IFRS (Pty) Ltd Planning by Reviewed Performed by Final review 07.

50
Year end: Wednesday, 28 February 2018 Page 1 of 1
Current liabilities compilation program

PROCEDURES Exceptions Performed Ref.

by
Taxes and levies
1. Obtain a schedule of taxes and levies balances and totals at year end, with comparative
figures, if applicable, for the previous year, and:
(a) Agree comparative figures with the previous year’s working papers and financial
statements.
(b) Review the list and investigate unusual items.
(c) Agree the list to the supporting schedules, trial balance and / or control accounts.
(d) Compare items per category with previous years and obtain reasons for unusual
changes.
2. Prepare the taxes and levies notes and accounting policies using records, documents and
other information provided by management, in accordance with .
3. Confirm that:
(a) Taxes and levies items are measured in accordance with .
(b) Taxes and levies items are correctly presented and disclosed in the financial statements
as required by .
(c) Taxable income was reconciled to pre-tax accounting income.
(d) Deferred tax was raised as appropriate in accordance with .
(e) Value Added Tax, where applicable, was accounted for as appropriate in accordance with
.
Conclusion
Financial statement area Results
Taxes and levies

CONCLUSION Yes / No Initials and Ref.

date
Suspected non-compliance with laws and regulations to be considered and reported in terms of
the Non Compliance with Rules and Regulations (NOCLAR) standard and the local Code of
Professional Conduct.
Did the results of the above procedures indicate that information supplied by management is
incorrect, incomplete or otherwise unsatisfactory?

2017/10/20 Current liabilities compilation program 07.50

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