Accounting books review
Review accounting books, tax reports, financial statements is one of extremely important works to ensure consistency, accuracy, reasonableness and legality in the tax accounting system of the enterprise.
When should enterpise review their accounting books?
- Upon receipt of decisions or proactively requests Tax Authorities to conduct tax inspection and examination;
- Enterprises are not assured of the currently applied tax policy, current accounting system;
- Enterprises conduct year-end tax finalization without sufficient accounting records and books.
Benefits of enterprises upon their usage of TPM services:
- TPM shall consult to help enterprises with supplementation to their accounting documents, accounting books and tax finalization profile as well as offer readjustment in accordance with the provisions of the current tax laws before the inspection, examination conducted by Tax Authorities;
- TPM shall protect interests and representatives of enterprises for direct explanation in case of decision of tax inspection;
- TPM shall take responsibilities according to regulations in case of any mistake related to expertise.
The content of TPM accounting book reviewing:
- Check the legality and validity of the original documents;
- Classify documents according to the operating section;
- Compare documents with tax declarations and reports;
- Check the accounting recording and accreditation for the arising operations;
- Reviewing tax policies currently applied by enterprise;
- Discuss with enterprises regarding existing risks and propose the best solution;
- Make necessary adjustments on financial statements and tax reports;
- Issue a review report.