Audit firms have now started declaring tax returns as legally valid!
Audit firm is saying that the tax paid on declared income is correct. When you hire an audit firm for a tax advice, they don't investigate how many assets or investments you have, or how much was your income from all the sources. They only calculate the tax based on whatever you tell them about your assets/ investments, income sources and income.
So if a tax return shows that the income from all sources is X, and you have paid Y tax on this income, audit firm will review it, recalculate and advise you whether you need to pay more tax or vice versa.
I don't blame AFF & Co. Chartered Accountants. They have only said that the tax returns are correct. It doesn't mean that they are saying that all the taxable income has been declared on a particular tax return by a payee. This is out of scope of the tax advisory services provided by chartered firms, unless they are given special tasks of forensic investigation.
Unfortunately, government is using their statement to show the people (who do not know the process of tax returns or the scope of tax/ audit firms) that how clean Sharif family is. 98% will consider this statement as a clean chit from a reputed audit firm.
If court asks a special forensic advice from AFF or any audit firm, I can tell you that investigation will be very different. Sharifs will be caught naked.
