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Definition of 'Audit'
1. An unbiased examination and evaluation of the financial statements of an organization. It can be done internally (by employees of the organization) or externally (by an outside firm).
2. An IRS examination of a taxpayer's return or other transactions. The IRS performs this examination to verify the accuracy of these filings.
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Investopedia explains 'Audit'
1. Auditors ensure the fiscal accuracy and responsibility of organizations.
2. This is the ultimate fear of nearly every taxpayer.
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Keeping thorough records and knowing the penalties make this experience easier than you'd expect.
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Does a job as a financial sleuth sound interesting to you? Dig in to learn more.
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Don't make yourself a target - steer clear of these attention-grabbing tax-filing practices.
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Ditch your ego, prove that you'll work hard and don't settle for the wrong company.
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The auditor's review isn't always the last word. Many taxpayers who are audited can successfully appeal their audits and save thousands of dollars.
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Generosity may be its own reward, but some charitable giving also provides personal tax benefits.
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Corporate treasury management has evolved from an offshoot of accounting to a more specific and strategic career.
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Learn what it means to do your homework on a company's performance and reporting practices before investing.
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We give you seven guidelines to help you keep more of your money in your pocket.
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Co-op investors can often be penalized for other people's actions. Read on to learn about the most common types of co-op default.
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Appealing an unfavorable or unfair tax ruling may be your last chance to save your finances.
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