Tag Archives: Audit

What is a Correspondence Audit?

In short, a correspondence audit is an IRS audit that’s performed through the mail. The majority of IRS audits – over two-thirds – are correspondence audits. Rather than a full-blown, in-person examination of your assets, a correspondence audit simply requests … Continue reading

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OIG Highlights Recent Audit, Investigation, and Enforcement Accomplishments

The Office of Inspector General (OIG) of the Department of Health and Human Services has released its semiannual report for the period of April 1, 2017, through September 30, 2017. The report also includes aggregated data for all of fiscal … Continue reading

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Typical audit fees during 2009 were approximately one-tenth of total legal fees

The NY Times, Oct. 28, 2011 at B2, reports that in 2009 audit fees averaged $569,000 per billion dollars of revenue. For U.S. companies that year, what they spent on their law department and outside counsel averaged something like $5… … Continue reading

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Comptroller's audit focuses on school district's payroll and overtime practices

Comptroller's audit focuses on school district's payroll and overtime practices Source: Office of the State Comptroller, Division of Local Government and School Accountability The State Comptroller's Division of Local Government and School Accountability audit report of the Webster Central School … Continue reading

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Accountant fined for inadequate FCM audit

Accountant fined for inadequate FCM audit The CFTC has filed and settled charges against public accounting firm McGladrey & Pullen, LLP, and firm partner David Shane. When McGladrey and Shane performed an audit on registered Futures Commission Merchant ("FCM") One … Continue reading

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