No
Audit is not necessary for all companies, in some countries the small companies are exempt from audit.
39th in largest private companies
NPOs are given tax-exempt status because as IRS Code Section 501 states, "no part of the net earnings shall inure to the benefit of, or be distributed to, its members, trustees, officers, or other private persons."
Publicly traded companies are required to have audits. Reviews are similar to audits, but are less comprehensive in scope. Private companies often opt for reviews instead of audits because they are less costly. Private companies may also request an accounting review in order to meet the requirements of a lender or private investor.
As far as I'm concern, since the exempt private companies are by far the most lenient as it does not have to comply many rules like what other classification of companies do. The reasons could be probably due to no public money are involve thus the advantages of the exempt private companies includes the following: 1) It does not have to disclose its financial information and accounts to the public and therefore enjoy the confidentiality of the company. 2) The exempt private company can provide loan to the directors of the company which other form of company don't.
All public and private disability benefits are exempt from creditor garnishment. All SS, SSI, SSD SSID benefits, military pensions and most private pensions are exempt from creditor garnishment.
Yes a Government company can be private company wherein the rules as applicable to a pvt co., shall apply to such government co., Central Government can exempt any class of companies from certain provisions of the companies act by an official gazette
Gov't backed student loans are exempt from BKruptcy....they will come after you thru tax refunds or garnishment.
No
No institution exempted from audit
Audit is not necessary for all companies, in some countries the small companies are exempt from audit.
Sales tax exempt forms are for individuals or companies that are exempt from sales tax. This could be if you run a charitable, educational or other organizations.
No, unions are not private companies, but they are a type of economic organisation.
Private Companies
NJ has state mandated short term disability insurance for workers of private companies. Public employees are exempt from the mandate, but can buy coverage should the group choose the option.
Sarbanes-Oxley Act (SOX) of 2002. SOX transferred the regulation of accountants auditing the financial statements of public corporations from the AICPA to the Public Companies Accounting Oversight Board (PCAOB), a new private sector, not-for-profit body.