Business Expenses Are Subject To Auditing By The
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Audit firms are like their clients they work to make a profit.
Business expenses are subject to auditing by the. Tax returns submitted by an individual or business are audited. Because expenses reduce revenue basic audit procedures help preserve the bottom line particularly when processing expense reports which is a common task for bookkeepers and accountants. There are some common triggers that raise red flags on small business tax returns.
Audit firms are under cutting each in attempts to secure the assignment. Expense auditing is a fundamental risk management task that s often critical to a company s profitability. Moreover practitioners are subject to rigorous legislation and standards from regulatory bodies such as hmrc and companies house.
If you avoid them on your income tax returns your odds of a field audit will be greatly reduced.
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