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Two-thirds of clients ready to change auditors

Accounting Today

Businesses" report found that 34% of respondents said they are "very likely" to switch auditors in the next three years, 36% are "somewhat likely" and 15% are "not sure." Gary Boomer June 9 Audit Two-thirds of clients ready to change auditors Seventy percent of U.S. Inflos "Creating a New Audit Experience for U.S.

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What's the Difference Between Business Fraud and Negligence?

Summit CPA

The majority of returns with incorrect information are due to mistakes rather that fraud. However, there are common areas that you should be extra cautious so that you can avoid any unnecessary scrutiny of your tax return. Padding business deductions with non-deductible personal expenses may be considered tax fraud.

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Preparing Your Client for a Tax Audit: Walking the Taxpayer Through IRS Audits 101

CTP

Our clients should know the reasons they might be selected for an audit, how they will find out they are being audited, and what an IRS auditor might ask for. We will especially want to have this conversation if our clients tax return features one of the IRS red flags of the season. Auditors will often request books and records.

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Friday Footnotes: PwC Scandal Somehow Gets More Scandalous; Deloitte Denied in Court; Withum Embiggens in Florida | 11.8.24

Going Concern

Municipal Messes Delayed audit finds ‘material weaknesses’ in Elton’s finances and procedures [ KPLC (Louisiana)] The town agreed to address such deficiencies including timely adopting an operating budget, hiring someone qualified to prepare financial statements, and submitting required paperwork to the Legislative Auditor’s Office by the due date.

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New year, new sales tax obligations

TaxConnex

Review your nexus and taxability and such paperwork as your sales tax returns, federal income tax returns, G/Ls and sales journals. Earmark insignificant items for disclosure before an auditor asks, which could result in less scrutiny of the rest of your sales and use tax obligations.

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Pitfalls of sales tax compliance: in-house resources

TaxConnex

It’s just sales tax. There are nuances beyond putting numbers on a sales tax return. There are 50 different state sales tax systems and 50 different sets of laws and rules. No ‘additional task’ Sales tax compliance is not a value-added responsibility for you: It’s a tax-collection responsibility imposed on you.

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Top Remote Accountants of the Week | December 5, 2024

Going Concern

Are you having trouble finding remote accountants, CAS experts, auditors, or tax professionals for your firm or internal team? Accountingfly can assist you! With our Always-On Recruiting service, you can access a pool of top remote accounting candidates without any upfront costs.