MyIRSRelief

JUNE 14, 2024

Receiving an audit notice from the Internal Revenue Service (IRS) can be a daunting experience for any taxpayer. However, understanding the audit process and knowing your rights and options can significantly ease the stress. What is an IRS Audit? Office Audits: These audits are conducted at an IRS office.

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MyIRSRelief

JUNE 3, 2024

Tax Audit Representation Learn how to navigate tax audits with confidence. Facing a tax audit can be a daunting experience, but with the right representation, you can navigate the process with confidence. For professional audit representation help call us at 1-877-788-2937.

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audit Tax tax return public accounting 130

Accounting Today

SEPTEMBER 18, 2023

The service said Monday it plans to lower its audit rate of low-income taxpayers, even as some criticize its ability to protect taxpayer information.

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audit Tax 137

CPA Practice

OCTOBER 8, 2024

According to a new report from top six accounting firm BDO USA, company finance leaders are expecting technology like artificial intelligence to be used by their external auditors now to enhance their audit engagement and consider it the second-most important factor when choosing an audit firm. Graph courtesy of BDO USA.

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audit Finance auditor Technology 143

CPA Practice

NOVEMBER 19, 2024

A new analysis of audit committee disclosures of companies in the S&P 1500 reveals a plateau in disclosure rates across several areas important to investors, including considerations in appointing or reappointing the external auditor, length of auditor tenure, and how the audit committee evaluates audit fees in relation to audit quality.

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audit auditor Government 111

MyIRSRelief

JUNE 28, 2024

Tax audits can be a daunting experience for any taxpayer. The California Franchise Tax Board (FTB) conducts audits to ensure compliance with state tax laws and to verify the accuracy of tax returns. Understanding the audit process and knowing your rights can significantly ease the stress associated with an audit.

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audit California Tax tax return 130

CPA Practice

MAY 26, 2023

It is stepping up efforts to audit employers as aggressive promoters continue to make a pitch for fraudulent refunds (IR-203-40, 3/7/23). Also, they often don’t inform taxpayers that wage deductions claimed on the federal income tax return for the business must be reduced by the amount of the credit. How does the ERC work?

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audit general ledger income tax tax return 138

MyIRSRelief

JANUARY 7, 2024

Tax audits can be a daunting experience for any taxpayer, and when it comes to the Employment Development Department (EDD) audits, the stakes can be particularly high. An EDD tax audit focuses on ensuring that businesses comply with CA state payroll tax laws, which can be complex and multifaceted.

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audit payroll tax Tax auditor 130

CTP

JANUARY 17, 2025

One of the many roles we play as tax planners is as the taxpayers audit support system. Just the word audit can cause the typical taxpayer to panic. We can help reduce taxpayer stress by orienting them to audit basics long before that notice comes in the mail. billion of potentially fraudulent ERC claims.

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audit Tax auditor tax return 96

CPA Practice

JULY 11, 2024

a provider of assured integrated reporting, has added the Global Internal Audit Standards to the Workiva platform, making it the first SaaS company to incorporate the newest standards into its suite of GRC (governance, risk, and compliance) solutions. Workiva Inc., from July 15-17, 2024.

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audit auditor Washington Government 111

Withum

NOVEMBER 12, 2024

Understanding when audited financial statements of a retirement plan are required to be attached to a Form 5500 is an important part of demonstrating fiduciary responsibility over the plan and preventing unnecessary fines for an invalid filing of the 5500.

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audit financial statements accounted Account 122

TaxConnex

MAY 28, 2024

For more information on the taxability of SaaS, check out our SaaS map. Audit Notices. This one is not very surprising, as the purpose of an audit is to actually find noncompliance and rectify it. That being said an audit can uncover previous non-compliance that needs to be rectified.

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Sales Tax audit accountant 264

CPA Practice

NOVEMBER 11, 2024

The Public Company Accounting Oversight Board (PCAOB) revoked the registration of a Chinese audit firm on Nov. auditing rules and for failing to cooperate with an investigation into those violations. 8 for repeated violations of U.S.

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CPA Practice

DECEMBER 6, 2024

Staff report Audit firms have room to improve when it comes to creating cultures of accountability that promote audit quality, according to a new staff Spotlight report from the Public Company Accounting Oversight Board (PCAOB). audit firms. audit firms. The report, released on Dec. The report, released on Dec.

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audit auditor Government accountant 97

CPA Practice

NOVEMBER 13, 2024

Wolters Kluwer, a provider of information, software, and services for professionals, has collaborated with The Institute of Internal Auditors’ Internal Audit Foundation on a research report: Harnessing Generative AI for Internal Audit Activities. The time to seize this unique opportunity is here.

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audit auditor Government 111

Going Concern

MAY 7, 2024

“In other words, the reported deficiencies had to be so serious that, in our view, the audit firm could not provide reasonable assurance that the financial statements were free from material misstatement due to error or fraud,” explained former board member J. .” And you thought NOCLAR was controversial.

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audit financial statements Account accounted 111

MyIRSRelief

AUGUST 2, 2024

This dichotomy creates a complex tax landscape for cannabis businesses, particularly concerning compliance, audits, and the infamous Section 280E of the Internal Revenue Code (IRC). Navigating Audit s IRS Audits The IRS has made it clear that cannabis businesses are a priority for audits.

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audit Tax Nevada Colorado 130

CPA Practice

AUGUST 12, 2024

Luckily, companies with internal audit resources already have in place a valuable contributor to ensuring ESG success. Our ESG Solutions Practice recently spoke on the role of internal audit in ESG strategy. These were the key roles and use cases for internal audit resources in an ESG strategy.

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audit auditor Government 119

CPA Practice

SEPTEMBER 5, 2024

Keeping up with sales tax changes can be difficult and, even if you’re careful, your business can be selected for a state audit. Just the thought of being selected for a sales tax audit can be intimidating.

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audit Sales Tax auditor 115

CPA Practice

JUNE 25, 2024

auditing reporting requirements. When registered firms fail to comply with reporting requirements, it deprives investors of important information about those firms,” PCAOB Chair Erica Williams said in a statement.

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audit chartered accountant auditor CPA 111

Going Concern

APRIL 22, 2024

Industry OG and commentator Gene Marks has written an opinion piece for The Hill about what audits actually are that is less opinion and more brutal fact: Why you should be very skeptical of that auditor’s report. So they might catch a fine from the audit regulators. The devil’s in the details, people. I dunno, you guys.

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audit auditor financial statements Education 119

ThomsonReuters

DECEMBER 10, 2024

Predictive AI Predictive AI, which many firms already use, focuses on analyzing historical data to make forecasts and inform decisions. Access and integrate multiple data source: Agentic AI can pull information from various databases, tax codes, and real-time financial data to inform its actions. Read full press release 3.

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audit Tax Technology tax return 91

CPA Practice

SEPTEMBER 17, 2024

Accounting automation platform Trullion announced its Audit Suite, a cloud-based solution designed for auditors to leverage artificial intelligence to enhance accuracy and reduce human error in audits. Our Audit Suite is designed to meet these demands and put audit teams in the driver’s seat so they can see results fast.”

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audit auditor accounts payable financial statements 102

ThomsonReuters

DECEMBER 10, 2024

Predictive AI Predictive AI, which many firms already use, focuses on analyzing historical data to make forecasts and inform decisions. Access and integrate multiple data source: Agentic AI can pull information from various databases, tax codes, and real-time financial data to inform its actions. Read full press release 3.

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audit Tax Technology tax return 97

CPA Practice

FEBRUARY 23, 2024

Amid technological advancements, the audit professional’s role, characterized by a deep attention to detail, compliance and risk management, is proving to be vital well outside the traditional confines of finance. Auditors’ proficiency in validating data ensures the reliability and accuracy of financial information. By Nate Varel.

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audit auditor accounting and finance Technology 114

Cherry Bekaert

MAY 9, 2024

For many architecture and engineering (A&E) firms, overhead rate audits are a critical aspect of financial management since they can be a great way for firms to recoup incurred costs necessary to run their business from the government. Q: What is an overhead rate audit? Q: What are the benefits of an overhead rate audit?

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audit auditor Transportation Government 115

CPA Practice

APRIL 29, 2024

The recruitment and hiring landscape for internal audit must evolve to ensure the profession keeps pace with a changing risk environment. According to the report, hiring managers tend to seek recent college graduates who have studied accounting (80%), followed by those from auditing (53%) and business (44%).

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audit Education auditor Technology 111

TaxConnex

OCTOBER 26, 2021

This will help streamline your audits when they occur. This may seem obvious, maybe even trivial – but come audit time or if you have turnover in your organization, this trick will be useful. You should include sufficient information in file names to identify the data quickly. What’s in the name.

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Sales Tax audit auditor 246

Going Concern

JANUARY 9, 2025

Training Hours for Audit Personnel. Experience of Audit Personnel. Average years of career experience of senior professionals in key industries audited by the firm at the firm level and the audited companys primary industry at the engagement level. Retention of Audit Personnel (firm-level only). across the firm.

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audit auditor Education accounting firms 125

TaxConnex

NOVEMBER 9, 2021

It’s critical to maintain an accurate calendar that reflects where your business is registered for sales tax purposes, the filing frequency of each return, the e-file login credentials and other state-specific information. Audit work papers. In the event of an audit, documentation is both your best tool and your best defense.

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Sales general ledger Tax tax return 246

Going Concern

JANUARY 8, 2024

Hey remember the Bloomberg story last March about how staff shortages at audit firms were causing municipal credit ratings to tank ? Said the Sheridan Press today : The city of Sheridan and Sheridan County’s FY2023 audits will come in after the state-mandated deadline. The late audit was due on the 31st of December.

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Wyoming audit Government Montana 126

TaxConnex

AUGUST 25, 2022

Reporting sales tax and the amount of information required on each return varies with each state and local jurisdiction.?Returns Audits are a clear danger. If you and your company haven’t been hit with a sales tax audit yet, congrats. Tax calendars aren’t static. Returns are typically due either monthly, quarterly, or annually.

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Sales Tax audit Alaska 243

TaxConnex

JULY 27, 2021

As a result, it’s critical for the seller to maintain copies of these resale certificates in the event of an audit. Depending on the state, additional information may also be required. In the absence of a valid resale certificate, an auditor is likely to assume the transaction was taxable. Why ‘resale’? The importance.

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auditor Sales audit Tax 246

TaxConnex

JANUARY 10, 2023

Top worries remain around keeping up with changing nexus rules, understanding taxability and being audited, yet specific industries sway from this a bit and add filing returns on time and charging the correct sales tax rate to the list. Sign up here: [link].

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Sales Tax audit Finance 246

TaxConnex

NOVEMBER 30, 2021

For sales tax, data consistency is critical because inaccurate or incomplete data can lead to inaccurate return filings and, ultimately, notices and increased risk of audit. Include sufficient information in file names to identify the data quickly; shorthand should be understood by all employees as quickly as possible. Smooth flow.

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E-commerce tax return Sales Tax 246

TaxConnex

OCTOBER 28, 2021

Once you add in the threat that you could receive a notice of audit at any moment and it may not be just your company at risk, but you personally (due to responsible party laws ), it can be downright terrifying. A frightening threat. What’s your shield when the sales tax monster comes after you? Create a process.

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TaxConnex

JUNE 8, 2023

To ensure we are protecting digital information from unauthorized access we have implemented strong security controls as evidenced by 10 years of successful AICPA SOC I and II Audits,” explained Jackie Breiter, TaxConnex partner and COO.

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tax return audit Tax Sales 246