Examples of compliance framework

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Nagabhushan Pai (Querist)
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14 April 2018 Dear Team

I was going through Fair presentation Framework and Compliance Framework as a part of SA 200 - Overall Objective of an Independent Auditor. Can you pls explain me what is Compliance framework means and can you give me one or two examples of compliance framework in India?

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Nagabhushan Pai

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Guest (Expert)

14 April 2018 It is a set of internal control you make to avoid non compliance of any law.
e. g. the entity may have a procedure to make payments over 10,000 only through banking mode, so to avoid expense disallowance in income tax of over 10,000 in cash.