India Audit Lens
Maintain, approve, and trace statutory rates
Maintain firm-resolved statutory thresholds and rates with effective dates, citations, history, and maker-checker review. A saved rate is configuration used by product calculations; it is not a substitute for…
By India Audit Lens product team · Updated 2026-07-17
Review the rate catalogue
Navigate to Settings → Customization → Statutory Rates. Review each rule's code/title, category, current value, unit, effective period, source/scope, and approval status. Click History to inspect the full timeline before proposing a change. Confirm whether the current value comes from the system catalogue, a firm rate, or a pending proposal. Read the cited notification/provision and verify its effective period independently.
Do not change a rate merely because a current-year figure differs from a prior engagement. First check rule identity, units, entity/transaction applicability, retrospective/prospective effect, and the product calculation that consumes it.
Propose a change to an existing rule
Click Change beside the exact rule. Enter Value in the displayed unit. Enter Effective from and optional Effective to. Enter a clear Reason. Enter Source (notification / citation) with enough detail for an independent reviewer to locate the authority. Click Propose. Return to the catalogue and verify the proposal/status rather than assuming it is already active.
Where maker-checker is enabled, the proposer must not treat the pending value as approved.
Approve or reject a proposal
An authorised reviewer opens the pending proposal. Compare the rule code, unit, value, dates, reason, and source against the authoritative text. Check for an overlapping firm version or an unintended gap between effective periods. Click Approve only when complete and correct; otherwise click Reject and record the reason. Reopen History and confirm the decision, approver state, and effective timeline. Test the affected calculation on a synthetic engagement/date at, before, and after the boundary.
Maintain separation between maker and checker under firm policy even if a broadly privileged role can technically see both controls.
Add a firm-private rule
Click Add custom rule. Enter a unique uppercase Code such as FIRMCUSTOM1. Select Category and Unit. Enter a clear Title and Citation. Enter the Initial value, Effective from, and optional Effective to. Click Add. Verify the rule is visibly firm-private and test its consumer before relying on it.
Adding a custom rule does not automatically connect it to a product calculation. The calculation or rule mapping must already resolve that code. If no consumer exists, record the need as a product configuration/development gap rather than assuming the value is being used.
Understand engagement overrides
The same statutory-rate component can appear in an engagement with Override instead of Change. An engagement override is scoped to that engagement. Record why firm-wide configuration is unsuitable, use the correct effective date, and obtain review. Do not use an override to avoid correcting an erroneous firm rate that affects all work.
Correct an error
Do not edit history outside the supported workflow. Propose a corrected version with the appropriate effective dates and an explanatory reason. Obtain approval. Identify calculations, findings, reports, and engagements that used the erroneous version. Re-run only controlled drafts, compare changes, and document the impact on reviewed or issued outputs.
Expected result
The catalogue shows a continuous, reviewable effective-date history; pending changes are clearly distinguished from approved values; citations support every firm version; and affected calculations are tested at their date boundaries.