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An audit is a process that the Internal Revenue Service uses to check that the numbers of an account correspond with the tax return. While the IRS chooses to audit those with suspicious activity on their returns, there a... More »

www.reference.com Business & Finance Taxes

The purpose of an audit report is to inform external stakeholders of an auditor's objective opinion of a company's financial health. Many auditor's reports are made up of three paragraphs, which explain the responsibilit... More »

www.reference.com Business & Finance Corporations

The purpose of an audit trail is to provide a complete historical accounting of business transactions for future use in tracking missing records, investigating fraud and demonstrating compliance with required standards, ... More »

www.reference.com Business & Finance Taxes
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During an IRS audit, a tax return is examined line-by-line to make sure that everything is in order and nothing unusual is listed. If a suspicious item is found, the auditor asks the taxpayer to explain or justify it. De... More »

www.reference.com Business & Finance Taxes

Mistakes made when filing a tax return may require filing an amended income tax form, states the IRS. Changes in filing status, income, deductions or credits require an amended return. Mathematical errors may be correcte... More »

www.reference.com Business & Finance Taxes

Employers use the 940 tax form for their annual federal unemployment tax return, states the Internal Revenue Service. As of 2014, the FUTA tax rate is 6 percent and applies to the first $7,000 an employer pays each emplo... More »

www.reference.com Business & Finance Taxes

To submit an online tax return, create and log into a myGov account, reports the Australian Taxation Office. Answer an online pre-lodgment questionnaire to determine whether you should use the simplified myTax program or... More »

www.reference.com Business & Finance Taxes