TaxConnex
APRIL 28, 2022
In years past, auditors could show up at your door asking to look at your records. Many audits are conducted remotely, and an auditor never visits your office. And of course, save paper. Auditors can also use artificial intelligence to dig up even more evidence. Always treat the auditor with respect and dignity.?Assign
ThomsonReuters
APRIL 19, 2023
While some have expressed concerns that automation may replace human auditors, the reality is that technology is here to enhance the profession rather than replace it. Automation tools can help streamline processes , reduce inefficiencies, and free up human auditors to focus on higher-value tasks.
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ThomsonReuters
JANUARY 16, 2024
How mobile apps meet client expectations Streamlining your 1040 source document collection According to a recent survey by Protiviti and The Institute of Internal Auditors (IIA) , almost 75% of respondents, including 82% of technology audit leaders, view cybersecurity as a high-risk area, and with good reason.
ThomsonReuters
FEBRUARY 23, 2024
To prepare for a sales tax audit, it is important to understand what auditors are looking for and why. State auditors, for example, are usually trying to locate revenue they can recover, so they are looking for instances when taxes have either been underpaid or underreported. Think Black Friday and Cyber Monday, November and December.”
ThomsonReuters
JUNE 28, 2023
To do this, auditors must leverage technology and data analytics to innovate and sustain their edge over the competition. In this article, we will explore how using data analytics and automation can help enhance the auditing process, achieve greater operational efficiency, and ultimately set your firm apart.
ThomsonReuters
MARCH 19, 2024
To justify contesting a sales tax audit over documentation issues, Bobby says a company must first believe it has the invoice(s) or exemption certificate(s) to prove to auditors that their assessment is invalid. But suppose you bought 1,000 compressors in 2024, and you know auditors will raise the same tax issue in the future.
ThomsonReuters
MARCH 20, 2024
A lot of companies are in situations of unknown unknowns,” she says, “where they don’t even realize they have nexus and they end up finding out in painful ways when auditors come knocking.” Auditors typically request data encompassing several years, Davis notes, but large retailers may be processing millions of transactions per day.
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