article thumbnail

Friday Footnotes: Consulting is Done For; Audit Partners Not Feeling Optimistic | 6.6.25

Going Concern

Audit Fraud culture was ‘pervasive’ at union, auditors say [ BBC ] There was a “pervasive fraud environment” at one of the UK’s largest trade unions Unite, an auditors’ report obtained by the BBC has concluded.

52
article thumbnail

What happens if you get audited and don’t have receipts?

xendoo

From there, you’ll communicate with your auditor and provide the documents they ask for. There are many reasons the IRS might audit a business, but most happen due to random selection or tax errors. If the IRS audits you, you’ll receive a notification letter.

audit 52
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

What happens if you get audited and don’t have receipts?

xendoo

From there, you’ll communicate with your auditor and provide the documents they ask for. There are many reasons the IRS might audit a business, but most happen due to random selection or tax errors. If the IRS audits you, you’ll receive a notification letter.

audit 52
article thumbnail

Friday Footnotes: Modernizing CPA Requirements in Pennsylvania; Master’s Degrees Are Hot Again; Don’t Dog the PCAOB | 5.9.25

Going Concern

Education Master of Accounting programmes in US report rise in 2024 [ The Accountant Online ] New data from the US Graduate Management Admission Council (GMAC) has revealed an increase in applications to Master of Accounting programs. Treasury Department’s watchdog.