Ministry of Finance - Tax Department - 2013 [Executive Rules & Instructions]
Executive Rule No. 59 Concerning Auditor's Report
Audit firms accredited by Ministry of Finance, which approve tax declarations shall:
First: Review and approve the tax declaration submitted by the Incorporated Body and prepare opinion report as per the form designated for this purpose.
Second: Prepare the report in accordance with generally acceptable international review standards as applicable in State of Kuwait and in line with Income Tax Decree, the Executive Regulations and rules and instructions enforcing it.
Third: Disclose, in the report, the violations of the Decree and the executive regulations, rules and instructions enforcing it stated in the tax declaration. If the auditor expressly omits reference to any such violations intentionally or unintentionally in its report, the auditor shall be liable to the application of the provisions of the Resolution issued by Ministry of Finance in respect of approving audit firms.
Executive Rule No. 59 Auditor's Report Form
Auditor's report to:
The Ministry of Finance,
Tax Department
Auditor's report on the audit of the tax declaration submitted by the Incorporated Body for the fiscal year ended --/--/----
We have audited the accompanying tax declaration of the Incorporated Body for the fiscal year ended on --/--/----.
The management of the Incorporated Body is responsible for the preparation of this tax declaration under the provisions of income tax Decree, Executive Regulations and rules and instructions enforcing it. This responsibility includes designing, implementing and maintaining internal controls related to the preparation and fair presentation of the tax declaration.
Our responsibility is to express an opinion on tax declaration based on our audit. We have conducted our audit in accordance with International Standards on Auditing related to auditing of compliance. Those standards require that we comply with ethical requirements and plan and perform the audit to obtain reasonable assurance whether the tax declaration is free from material misstatement.
An audit involves performing procedures to obtain audit evidences about the amounts included in the tax Declaration. The selected procedures depend on the auditor's professional judgment, including the assessment of the risks of material misstatements in the tax declaration, whether due to fraud or error. In making those risk assessments, the auditor considers internal controls related to the incorporated body's preparation of tax declaration in order to design appropriate audit procedures.
We believe that the audit evidences we have obtained are sufficient and appropriate to provide reasonable basis for our audit opinion on tax declaration.
In our opinion, the tax declaration presents fairly, in all material aspects, the tax as per the income tax Decree for the fiscal year ended --/--/---- accounted for in accordance with the provisions of income tax Decree.
Without qualifying our opinion above, we draw attention to items mentioned in note (1)[1] to the tax declaration of the Incorporated Body which is not in line with the Decree, the Executive Regulations and rules and instructions enforcing it.
Kuwait:__________
Name of the auditor:
License No. and category:
Signature:
The note enclosed with the report on the audit of the tax declaration:
| SN. | Items not in line with Executive Regulations | Amount KD |
|---|---|---|