TaxConnex

SEPTEMBER 2, 2021

Managing a sales and use tax audit can be challenging. First, you should always anticipate an audit – even if you’ve never been audited before. While they are definitely becoming more frequent as states try to crack down on economic nexus laws, rarely are you given advanced notice as to when an audit will occur.

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audit Sales auditor Tax 243

TaxConnex

APRIL 28, 2022

In years past, auditors could show up at your door asking to look at your records. Usually, you learn about an audit through a notice or letter from the state or jurisdiction in question with instructions on how the audit will proceed. Many audits are conducted remotely, and an auditor never visits your office.

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audit auditor general ledger Minnesota 245

TaxConnex

MAY 18, 2021

An audit of your customer – A customer undergoing its own sales tax audit may produce one of your invoices , resulting in the auditor questioning why you are not charging sales tax and potentially leading to an inquiry or nexus questionnaire being sent to your company. In this blog, we’ll examine 7 of the most common.

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audit auditor Missouri Sales 246

PYMNTS

JUNE 29, 2020

In the ongoing scandal of Wirecard , under fire for fraud, the focus is now turning to auditors Ernst & Young (EY), which reportedly failed to report Wirecard’s “unorthodox financial arrangements” as far back as 2016, The Wall Street Journal (WSJ) reported.

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auditor audit been audited financial statements 130

ThomsonReuters

MAY 12, 2022

What is a sales tax audit? A sales tax audit determines whether a business has collected and paid the correct amount of sales tax owed to the state for taxable transactions. Auditors examine financial documents and compare total sales revenue with sales that resulted in the collection of sales tax.

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audit Sales Tax auditor 105

Going Concern

FEBRUARY 10, 2023

Audit Americanas’ $4 Billion Accounting Scandal Puts More Scrutiny on PwC’s Auditing Record [ Bloomberg ] A $4 billion accounting shortfall would typically raise alarm bells for an auditor. Somehow, a PricewaterhouseCoopers LLP affiliate didn’t catch it at Americanas SA.

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Florida Tax North Dakota accountant 105

PYMNTS

JUNE 29, 2020

German regulators have faced accusations that they failed to adequately supervise Wirecard, which has been audited by Ernst & Young , the Times reported. Last week, the company filed for insolvency, owing creditors almost $4 billion.

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