In the course of administering and ensuring steady tax compliance, the revenue authority may conduct tax audit and investigation on the taxpayers’ tax affairs. The main purpose of conducting tax audit and investigation is to detect fraudulent declaration made by the taxpayer through manipulation of financial information and verify whether the financial statements have been prepared in accordance to the General Accepted Accounting Standards (GAAP), and as per tax laws.

Tax audit and investigation is essential for efficient administration of self-assessed taxes and for ensuring that taxpayers pay neither more nor less tax than the law requires. Following tax audit and investigation, in most cases, entities may find that they have been exposed to further tax liabilities. This may be due to lack of awareness or the use of in appropriate procedures in the preparation of financial statements and tax returns. It is therefore essential to increase awareness to tax payers on issues that trigger/attract tax audit and investigation, and its related consequences. As it is a critical issue that face both private and public sector organisations today, the Institute of Finance Management (IFM) has organized a three-day training workshop that aims to provide knowledge, awareness and understanding of tax audit and investigation to organisations that face a risk of tax audit and investigation.