TaxConnex
DECEMBER 23, 2021
The Sales Tax Institute reports that Maine, Illinois, California, Massachusetts, Wisconsin and Washington have been the most aggressive states in sending notices and audit requests. Auditors know that competitors tend to have similar business models and that some industries are more susceptible than others to tax deficiencies.
TaxConnex
FEBRUARY 3, 2022
Bad luck for one, or a customer of yours undergoing their own audit might produce one of your invoices, resulting in the auditor possibly contacting you for an exemption certificate or other documents. An audit of one of your suppliers could turn up one of your exemption certificates for a transaction that the auditor may think is taxable.
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TaxConnex
DECEMBER 10, 2020
The case was referred to investigators after an auditor found that the business hadn’t filed quarterly sales tax returns or remitted sales tax collected for that period. Massachusetts , one of the many states with revenue potentially slammed by COVID shutdowns, is reportedly looking for quicker remittance of taxes owed.
TaxConnex
OCTOBER 25, 2022
Arkansas , Massachusetts , New York , Texas and Tennessee were among states that recently beat year-over-year or projected sales tax revenues. Auditors reported problems with the Louisiana Sales and Use Tax Commission for Remote Sellers. Blue bayou.
Going Concern
SEPTEMBER 22, 2023
Audit PCAOB offers forum for auditors; SEC releases several updates [ Journal of Accountancy ] Days after issuing a proposal to strengthen individual accountability for firm violations in audits, the PCAOB has announced a livestreamed forum aimed at educating auditors on how to avoid deficiencies. Williams said in a news release.
Going Concern
FEBRUARY 19, 2024
Underemployed staff at the Big Four auditors risk losing their jobs as firms step up their scrutiny of employee workloads in a downturn. The liquidators were “taking steps to protect [their ability to bring] legal claims against auditors”, one of the people said. billion debt burden and total liabilities in excess of $300 billion.
Snyder
OCTOBER 12, 2022
Department of Labor’s Bureau of Labor Statistics (BLS), bookkeepers and accounting clerks will experience almost a 4% employment decline in the decade 2018-2028, compared to a projected 6,4% increase in accountants and auditors during the same period, which is shown in the table 1. for accountants and auditors, which is almost half fewer.
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