JAINAM NALIN DELIWALAJAINAM NALIN DELIWALA asked 1 year ago
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1 Answers
RaviRavi Staff answered 1 year ago

Laws Having Direct Effect — Collect evidence for COMPLIANCE (All Audit Procedures)
Other Laws Which May Have Material Effect — Collect evidence for NON-COMPLIANCE (Inquiry + Correspondence with Authorities)
So nature of law determined nature of checking.
But if you detect non-compliance while performing any of above procedures then you have to get details, discuss with management, see proper accounting is done for impacts and if not report it. Once you detect non-compliance what kind of law it is doesn’t matter, it is relevant to determine initial audit procedures.

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