Broadly Internal Auditing involves the following:
- Audit is a verification of financial accounts and other records particularly records relating to production, clearance of goods or provision of service by the assessee to ascertain that duties of Central Excise / Service Tax are correctly paid.
- The Central Excise officers posted in Commissionerate of Audit conduct Audit which include Assistant / Deputy Commissioner, Joint / Additional Commissioner or Joint Director (Cost).
- The returns filed with the department are based on self assessment. The correctness of the payment and application of statute are verified during the periodical Audits conducted by the department.