Tax Audits

internal auditors perform an operational audit as part of their assurance services they render to oganisations.

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1. The allocative effects of direct taxes are superior to those of indirect taxes.

2. Direct taxes are progressive and they help to reduce inequalities.

3. The administrative costs of direct taxes are more than that of indirect taxes.

4. Direct taxes are more flexible than that of indirect taxes.

5. Indirect taxes are more growth oriented than direct taxes.

so that the handbook may be updated on a daily bases.

People who give Discounts on their shops just try to fool us. But the reality is that they make profit even by giving discounts .ìt is done by fixing the net price much higher than the cost price and then they offer the discount accordingly

Difference between social accounting and social audit?

Not sure what you're asking - a "Profit and Loss" is a slang name / jargon for an Income Statement.

. Internal audit can play a vital part in improving a company's performance. Internal auditors are helping companies identify the main risk factors. It helps the company to predict potential future problems and to recognize existing vulnerabilities. It also allows a company to recognize procedures and controls that do not work effectively and offers a chance to improve on them. An internal audit will help you take several steps forward to easily identify technical security risks so you can handle them just as effectively, as reliably and thoroughly as possible.

An internal audit is conducted by an unbiased party within the company. An interim audit (which is an audit conducted before the end of the fiscal year) can be conducted by someone outside the company.

before the start of audit

...not sure but an direct tax is when you are taxed right then and there and you know about it

...a indirect tax is when you are taxed later on and don't know about it

Electric shock is to electrocuted as burned is to cremated.

Electric shock is the same as electrocuted, except that electrocuted has actually induced death; to kill by electric shock.

An audit is performed by an outside party; a control is exercised by an internal party. A control provides assurance to management, while an audit provides assurance to outside investors.

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Besides salaries and wages earned by employees, employers incur costs for various payroll taxes, including the employer's share of Social Security and Medicare, workers' compensation premiums and unemployment insurance.

Often they also incur costs for certain employee benefits, including health insurance and post-retirement benefits. All in all, additional payroll related costs can amount to 30% to 40% of wages and salaries. Call 888-924-1776 for more information about payroll related operating costs.

The key concept is "reasonable" assurance. The auditor does not provide absolute assurance, because this is not attainable due to factors like the need for judgment, the use of testing, the inherent limitations of internal control and the fact that audit evidence is generally persuasive rather than conclusive.

Once a Week.

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direct tax