Responding to widespread taxpayer concerns regarding audit procedures, the Bureau of Internal Revenue (BIR) took a decisive step by suspending tax audits in November. This strategic pause allowed the ...
On November 16, 2022, the IRS released a long-awaited update to the procedure for large corporate taxpayers and large partnerships under continuous audit to obtain Qualified Amended Return (QAR) ...
The suspension of audit and field operations following the issuance of Revenue Memorandum Circular (RMC) No. 1072025 on Nov. 24 marked a deliberate pause in the Bureau of Internal Revenue’s (BIR) ...
Audit procedures refer to the steps undertaken by an auditor to achieve the specific objectives of an audit when conducting the fieldwork phase of the audit. These objectives include ensuring the ...
Dealing with the Internal Revenue Service (IRS) is sometimes a difficult and complicated process. Even more so now given the pandemic. Interactions with a Revenue Agent may not happen in person, but ...
The American Institute of CPAs’ Auditing Standards Board has released a new standard for audit evidence for private companies, updating the existing standards in recognition of the increasing role ...
The corporation said the problems stemmed entirely from an outside accounting firm it employed from 2017 to mid-2025.