Were you ever notified by FBR?
Were you ever notified by FBR? Were you ever notified by any Provincial revenue authority about Tax Audit? We get panic when there is a Tax Audit. No need to worry. It is simply re-checking of what you have filed or paid. If you have not filed or paid, then all you need is to fix it. Tax Audit of a business and an individual increase value to your resources. Tax audit companies has a higher chance of increasing their revenue due to transparency. Tax audit increases accountability at an individual level. If you delay the Tax Audit, it means you have some issues that you need to resolve. And that is perfectly fine. You can always ask Tax Audit authorities to give you more time. The Tax Audit department will work with you. Every auditor engaged in government audit is required to be familiar with audit theory, practice, standards, and techniques described in Financial Audit Manual (FAM), which includes the Audit Working Papers Kit. FAM is supported by standard Audit Working Papers Kit that provides the auditor with practical tools for conducting audit. The audit process generally follows a standard Audit Cycle comprising the following phases: General audit planning, Detailed activity and resource planning, Fieldwork, Evaluation, Reporting, Follow-up.