In cases where the taxpayer makes certain payments such as taxes, duties, or cess or provident fund contribution of employees after the tax audit report has been submitted in an assessment year, a revised audit report signed by the accountant can be given to claim relief for that spending or payment, CBDT said in a ...

Can statutory audit report be revised?

It also confirms that the audit report once issued cannot be withdrawn. However, it may be revised as per the procedure laid down in this Guidance Note. It is felt that this Guidance Note would enhance the confidence of public in independence of the profession.

Can audited balance sheet revised?

As per the Guidance Note (GN) on Auditors Report on Revised Accounts of Companies before circulation to Shareholders issued by the Institute of Chartered Accountants of India (ICAI) in December 1979, a companys financial statements, duly approved/authenticated by the Board of Directors and the statutory auditors can be ...