https://padlet.com/vanloog/scgscbjepq3zcwdu Made with hopes and dreams of getting a good grade en-us 2022-04-20 14:55:39 UTC 2022-04-30 17:51:34 UTC hello@padlet.com vanloog https://padlet.com/vanloog/scgscbjepq3zcwdu/wish/2150510379 An audit is done by an outside party. By definition an audit is an inspection of an individuals or organizations accounts.]]> 2022-04-20 15:07:01 UTC https://padlet.com/vanloog/scgscbjepq3zcwdu/wish/2150510379 vanloog https://padlet.com/vanloog/scgscbjepq3zcwdu/wish/2150520159 2022-04-20 15:13:07 UTC https://padlet.com/vanloog/scgscbjepq3zcwdu/wish/2150520159 vanloog https://padlet.com/vanloog/scgscbjepq3zcwdu/wish/2150524990 There are definitely wrong, and right ways to do an audit. The steps followed and the purpose of an audit though should remain universal.]]> 2022-04-20 15:16:00 UTC https://padlet.com/vanloog/scgscbjepq3zcwdu/wish/2150524990 vanloog https://padlet.com/vanloog/scgscbjepq3zcwdu/wish/2154663049 An example of a possible audit format. Not all audits look the same, but the purpose never changes.]]> 2022-04-23 16:26:40 UTC https://padlet.com/vanloog/scgscbjepq3zcwdu/wish/2154663049 vanloog https://padlet.com/vanloog/scgscbjepq3zcwdu/wish/2156615825 This paper is about a specific genre in the accounting world, an audit. If you don’t know what an audit is don’t worry there’s a more detailed definition in the next section of this paper. An audit is an extremely important document, it is turned in to the recipient/client at the predetermined due date with the findings of the auditor. One thing to be noted is that the person who does the audit is not the accountant of the client. The auditor is an outside unbiased investigator. ]]> 2022-04-25 14:07:38 UTC https://padlet.com/vanloog/scgscbjepq3zcwdu/wish/2156615825 vanloog https://padlet.com/vanloog/scgscbjepq3zcwdu/wish/2157223798 The audience is not large. Depending on who the audit is done on it varies the amount of people who will be notified and involved. If it is an organization then strictly those with a need to know will be receiving copies. Aside from the client the auditor and IRS will also be privy to the findings of the auditor]]> 2022-04-25 19:26:43 UTC https://padlet.com/vanloog/scgscbjepq3zcwdu/wish/2157223798 vanloog https://padlet.com/vanloog/scgscbjepq3zcwdu/wish/2157241678 An audit attempts to make sure that the books and accounts of an individual or organization are properly maintained as required by law. Auditors consider the propositions before them, find evidence whether showing positives or negatives, and evaluate the propositions in their final report.]]> 2022-04-25 19:36:58 UTC https://padlet.com/vanloog/scgscbjepq3zcwdu/wish/2157241678 vanloog https://padlet.com/vanloog/scgscbjepq3zcwdu/wish/2157256491 An audit is a rather serious report and the need behind it is also rather serious. The need behind an audit is to make sure your accounts and books are balanced and completed as expected by the law. The IRS can send you to an auditor if there is reason to doubt the completion of your taxes. The auditor is given the clients books, reports, financial statements, and then investigates to see if there is anything missing or not adding up. Once the investigation is complete the auditor submits their final report whatever it may be. So, the exigence for an audit would be doubts that things were completed lawfully by an individual or organization.]]> 2022-04-25 19:46:25 UTC https://padlet.com/vanloog/scgscbjepq3zcwdu/wish/2157256491 vanloog https://padlet.com/vanloog/scgscbjepq3zcwdu/wish/2157272089 2022-04-25 19:58:49 UTC https://padlet.com/vanloog/scgscbjepq3zcwdu/wish/2157272089 vanloog https://padlet.com/vanloog/scgscbjepq3zcwdu/wish/2157286840 An example of those who receive the final audit report for Harvard]]> 2022-04-25 20:09:36 UTC https://padlet.com/vanloog/scgscbjepq3zcwdu/wish/2157286840 vanloog https://padlet.com/vanloog/scgscbjepq3zcwdu/wish/2165381692 For those unfamiliar, Exigence is the need or drive behind something. It's the why behind actions and decisions.]]> 2022-04-30 17:21:37 UTC https://padlet.com/vanloog/scgscbjepq3zcwdu/wish/2165381692 vanloog https://padlet.com/vanloog/scgscbjepq3zcwdu/wish/2165384575 Accounting is a large community and within it there are many different genres to go with each specific task or job you have within accounting. The genre I am most interested in focusing on is an audit report. To me, this seems fascinating because an auditor is like the detective of the accounting world and the report is the evidence and thoughts found after investigating.]]> 2022-04-30 17:27:52 UTC https://padlet.com/vanloog/scgscbjepq3zcwdu/wish/2165384575 vanloog https://padlet.com/vanloog/scgscbjepq3zcwdu/wish/2165388007 The constraints are rather interesting. The law must be followed in this process, but the auditor can only investigate what the client turns over to be reviewed. If the client leaves out important documents, then the conclusion the auditor comes to from the unfinished knowledge of their investigation may be wrong. Thus, the constraints are the law and the willingness of the client to follow the law.]]> 2022-04-30 17:35:08 UTC https://padlet.com/vanloog/scgscbjepq3zcwdu/wish/2165388007 vanloog https://padlet.com/vanloog/scgscbjepq3zcwdu/wish/2165390591 A little more in-depth discussion about an audit and the process behind it. How a person or business is selected is either by random selection or computer screening, or related examinations. If there is an error or a 'blip' in the tax information you provided the IRS will send you a notice in the mail that an audit must be performed. From there you can have your audit performed in various ways. It can be done by mail, or if there's too many books and records than an in-person interview can be conducted either at an IRS office (Office audit) or at the taxpayer's home or office, or at an accountant's office (field audit). ]]> 2022-04-30 17:41:25 UTC https://padlet.com/vanloog/scgscbjepq3zcwdu/wish/2165390591 vanloog https://padlet.com/vanloog/scgscbjepq3zcwdu/wish/2165392639 To go over everything, A audit is a report on the financial status of a person or business. It is done by an outside party either at an IRS office or an accountants office. Once the report is done the auditor turns it in to the client and the IRS. The need behind an audit is an error in the tax or financial statements of the client who is notified by mail that an audit needs to be done. The constraints are the law and clients willingness to be forthcoming with their financial information. I hope this paper was able to enlighten the interesting process and purpose of an Audit report.]]> 2022-04-30 17:46:22 UTC https://padlet.com/vanloog/scgscbjepq3zcwdu/wish/2165392639 vanloog https://padlet.com/vanloog/scgscbjepq3zcwdu/wish/2165393573 Here is an example of how you might appeal an audit.]]> 2022-04-30 17:48:30 UTC https://padlet.com/vanloog/scgscbjepq3zcwdu/wish/2165393573