internal audit
An audit performed by an organization’s personnel to ensure that internal procedures, operations, and accounting practices are in proper order.
Search Results for: internal audit
correspondence audit
An IRS audit of a taxpayer’s return conducted by mail or telephone. [Cases: Internal Revenue 4443. C.J.S. Internal Revenue §§ 616, 618.]
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field audit
An IRS audit conducted at the taxpayer’s business premises or lawyer’s offices. [Cases: Internal Revenue 4443. C.J.S. Internal Revenue §§ 616, 618.]
tax audit
The review of a taxpayer’s return by the IRS, including an examination of the taxpayer’s books, vouchers, and records supporting the return. — Also termed audit of return. [Cases: Internal Revenue 4443. C.J.S. Internal Revenue §§ 616, 618.]
correspondence audit
correspondence audit 〈美〉信函式纳税审计 国内税务署〔Internal Revenue Service〕通过邮件进行的审计活动。通常由该署写信要求纳税人确认某一特定的税务减免，纳税人则填报特定表格或寄回证明材料之副本或其他佐证便可。 (→audit)
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office audit
An IRS audit of a taxpayer’s return conducted in the IRS agent’s office. [Cases: Internal Revenue 4443. C.J.S. Internal Revenue §§ 616, 618.]
inspector general
inspector general. (often cap.) 1. One of several federal officials charged with supervising a particular agency’s audits or investigations. 2. A governor-appointed state official who oversees internal review within executive agencies to ensure that there is no waste or abuse of resources.
discriminant function
discriminant function (di-skrim-[schwa]-n[schwa]nt). An IRS method of selecting tax returns to be audited. • The method consists of (1) using a computer program to identify returns with a high probability of error (such as those showing a disproportionate amount of deductible expenses), and (2) having examiners manually review the selected returns to determine which ones
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thirty day letter
thirty-day letter. A letter that accompanies a revenue agent’s report issued as a result of an Internal Revenue Service audit or the rejection of a taxpayer’s claim for refund and that outlines the taxpayer’s appeal procedure before the Internal Revenue Service. • If the taxpayer does not request any such procedure within the 30-day period,