Program Overview
In order that a quality management system can fulfil its potential, it is essential that it is regularly monitored and improved. This comprehensive training course looks in depth at Tax Audit, Tax Applicability, Tax Auditors, Compliance, Tax Audit Procedures, Documentation, and Tax Audit Reports.
The main meaning of the term audit is to check, review, and inspect. Tax audits are a critical part of finance, they are collectively championed by consultants, analysts, finance professionals and even by decision-makers who may have limited financial training.
Taxes are an unavoidable part of being in any kind of business. By understanding how to manage your tax burden and prepare for tax audits, you can maximise your profits over time and reduce the costs of not meeting your legally imposed tax obligations.
This unique course is designed for Internal Auditors or potential auditors who need an in-depth understanding of the auditing requirements of the standard and the compliance auditing program. This course will enable those attending to plan, perform, comply, and report the results of internal quality audits with the aim of developing and improving the quality management system of an organization. This course will provide participants with an understanding of the key role auditors play and a lasting memory of the information provided.
Texas certificate program is a powerful overview for managerial- and C-level professionals looking to thoroughly understand the tax compliance and planning landscape.
Tax Compliance Certificate courses are also designed for managers and business owners who want to understand how tax policies and business structures affect your company, and how prudent tax planning can help you stay organised and financially healthy.
Course Objectives
Upon completing this Tax compliance Certification Program for Auditors successfully, participants will be able to:
- Learn the definitions of complex tax-related terminology
- Gain a deeper understanding of why tax is levied and what it is used for
- Study the concept of and steps for tax audit preparation
- Identify scenarios in which tax reports and audits may be necessary
- Describe the main goal of tax audits and Tax treaty
- Explore how the tax audit space will be impacted by technology
- Identify the best time to prepare for tax audits
- Recognize the idea of tax independence and apply it in a scenario
- Identify the similarities and differences between tax audits and regular audits
- Explore how to conduct an audit from its inception to taking corrective actions
Training Methodology
This is a collaborative Tax compliance Certification Program for Auditors training program and will consist of the following training mechanisms:
- Lectures
- Seminars & Presentations
- Group Discussions
- Assignments
- Case Studies & Functional Exercises
Who Should Attend?
This Tax compliance Certification Program for Auditors Course would be suitable for:
- Taxpayers
- Tax agents
- Tax advisors
- Tax auditors
- Legal counsel and lawyers
- Tax advisers
- General tax practitioners
- Tax practitioners in advisory firms
- Beginners in tax commercial and trade industries
- Government officials
- In-house tax directors/managers
- Tax regulation bodies
- Financial analysts
Course Outline
Day 1: Organizational culture and strategy
- Definitions and models of culture
- Professional Ethics: Ethics & Professional Skills Module (EPSM)
- The psychology of decision making and how this may be influencing culture
- The regulatory environment and compliance culture
- Risk appetite and risk culture and suitable criteria with cultural issues.
Day 2 : Introduction to Tax Audit
- What is Tax Audit ?
- Audit process
- Triggers of Tax Audit
- Types of Audits
- Applicability & Tax Applicability
- Financial Standards and Information
- Day 3 : Introduction to Compliance
- Overview of the global regulatory environment
- The objectives of financial services regulation
- The role of the regulators
- The Compliance Function
- Compliance structure
Day 4 : Introduction to Risk Management
- Definition of Risk
- Concept of Risk Management
- Risk identification tools & techniques
- Compliance Risk Management
- Risk assessment plan
Day 5 : Introduction to Data Analytics
- What is Data Analytic?
- Data Analytics in Auditing
- Types of data analysis
- The key steps in a data analysis process.
- Identifying, gathering, and importing data
- The role of Statistical Analysis in mining and visualizing data
Advance level
Day 6: Financial Standards and Information
- Financial Standards definition
- Identification of financial Risk
- Transparency requirement and disclosure
- Organisational Structure to Improve Efficiency
- What is Tax Fraud?
- Tax Evasion
Day 7: Audit Execution
• Types of Tax Audit
• Planning audits
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- Pre-Audit Activities
- Pre-Audit Meeting
- Field Audit Process
- Post Audit (Closeout) Meeting
- Interim Report & Reconciliation of Audit Findings
- Closing an Audit
- Test Procedures for Tax Audit Assurance
Day 8: Tax Treaties
- What Is a Tax Treaty?
- Legal nature and effect of tax treaties
- Types of treaties dealing with tax matters
- Objectives of tax treaties
- How a Tax Treaty Works
Day 9: AML & Financial Crimes
- International Standards
- FATF methodology for mutual evaluations
- AML/CFT Programs
- Internal controls ,Fraud and financial crimes
- KYC-CCD-EDD
- Compliance Risk Management
Day 10: Tax Data Analysis and Reporting
- The Tax Function
- Data Analytics Types
- Tax & the role of Analytics
- Direct & Indirect Taxes
- Transfer Pricing
- Tax Data Analysis and Reporting: Skepticism in data analytics
Master Certification
Day 11: Tax Assessment
- Types of Tax Assessment Letter
- Products of Tax Audit
- Statute of Limitation
- Closing Conference
- Tax Audit’s Trigger Condition
- Audit Case Selection
Day 12: Compliance Risk Management
- Legal Framework on Compliance
- Post-audit tax compliance
- Administrative Approach to Promote Compliance
- Methodologies and Tools
- Facilitation
- Measuring Result
Day 13: Tax Treaties
- OECD Tax Treaty Model vs. UN Tax Treaty Model
- Contents of a typical tax treaty
- Relationship between tax treaties and domestic law
- Interpretation of tax treaties
- The process of negotiating tax treaties
- Withholding Taxes Policy
Day 14: Tax Fraud Investigation& international anti- fraud
- The fight against tax fraud and tax evasion
- Objectives of the Tax fraud Investigation
- Types of Tax fraud investigation
- Investigation team
- Legal Support
- Fraud Investigation tools – case study
Day 15: Tax Data Analysis and reporting
- Elements and Principles of Data Analysis
- Skepticism Matters
- False Positives and Costly Skepticism
- Conducts predictive analytics
- Audit report – Case study