Receiving an audit letter from the Internal Revenue Service can be really scary but you do not need to panic, Joliet Tax Preparation and CPA Services are available for you. We provide professional accounting and auditing services for your business and we take care of the IRS audit so you won't have to worry. Unless you're quite knowledgeable in handling IRS audit, it's best to let the experts take care of it as it can be quite a complicated process. We also offer CPA external auditing services for firms who wish to have an unbiased view from a tax and accounting expert. The firm's financial statements are thoroughly examined to verify that they are in accordance with accounting standards like the Generally Accepted Accounting Standards (GAAS). We act in the role of an independent auditor and provide you with expert advice on everything accounting and auditing.
What is Auditing?
Auditing refers to formal inspection or evaluation of the company's financial reports, to verify that they are accurate and are in line with the appropriate accounting standards. It is often performed by an independent or external party to ensure impartiality. Government officials like the IRS also perform audits on businesses and taxpayers to confirm the validity of their tax returns.
Types of Audit
There are 3 main types of audit: Internal audit, external audit, and government audit.