audit

[samileo31]

Which audit sampling approach is used when we want to select a random sample and when we use probability theory to evaluate sample results, including measurement of sampling risk?


NOTE: You are not required to give the details of the selected approach. You are just supposed to write only the name as an answer.

For example:


Answer: ___________Sampling

(Be specific and to the point. Only provide one word answer as given above.)

[The Old Sarge]

Is this a test?

On how many fora have you posted this?

Is there a prize/reward for the correct answer?

[alive]

1. An examination and verification of a company's financial and accounting records and supporting documents by a professional, such as a Certified Public Accountant.

2. An audit is an IRS examination of an individual or corporation's tax return, to verify its accuracy. There are three types of audits: correspondence audits (the IRS mails a request for additional information), office audits (an interview is conducted at a local IRS office), and field audits (an interview is conducted at a taxpayer's place of business, for a corporate tax return). Since there is always the chance of an audit, experts recommend keeping good records to support all the information in a return. The reason detailed and accurate bookkeeping is so important is that the burden of proof is on the filer, not the IRS.