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An audit is the examination of an entity’s accounting records, as well as the physical inspection of its assets. If performed by a certified public accountant (CPA), the CPA can express an opinion on the fairness of the entity’s financial.
An audit is a systematic and independent examination of books, accounts, statutory records, documents and vouchers of an organization to ascertain how far the financial statements as well as non-financial disclosures present a true and fair view of the concern.
Accounting is the systematic and comprehensive recording of financial transactions pertaining to a business, and it also refers to the process of summarizing, analyzing and reporting these transactions to oversight agencies and tax collection entities.
The Adhimukti Associates Tax Audit Process: Procedure, Rules & Guidelines for IRS to Audit. The purpose of a tax audit is to verify that the tax reported is correct. Most of the time when the IRS selects your return for an audit it is because statistically there is a problem based upon the numbers you provided. Get a free consultation for prepaire of Accounts and Audit and Business Setup in India by Scheduling an appointment with an Adhimukti Associates Advisor.
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