What is Audit?
The word "audit" originated from the Latin word audire which means "to hear". The word audit generally applies to a financial statement inspection or verification. An accounting audit is an unbiased examination and evaluation of the financial statements of an organization to make sure that the financial records are a just and precise representation of the transactions they claim to represent. The audit can be conducted internally by employees of the organization or externally by an outside Certified Public Accountant (CPA) firm . Types of Audits External audits Internal audits: Internal Revenue Service (IRS) audits. Accounting Audit services have become the most wanted financial service now. Whether it’s a large firm or a small one if it has to go through IRS or state tax audit, it needs professional Auditing services. When you receive a notification about an Audit regarding your accounts, This can be an alarming and terrifying situation, especially when you ar