A well designed Audit Readiness process aligns compliant action to accounts payable
opening and payment activity. Based on our experience we have often discovered that these
processes are not aligned, resulting in an ineffective program with internal reviews not
addressing issues that really matter and creating increased opportunities for non-compliance with
taxing authorities rules and regulations.
The Audit Readiness process as developed and implemented by IRSCompliance reduces unnecessary
interruptions of the day-to-day business, supports demonstration of being in control, and will
result in a reduction of compliance activity costs.
Outcomes from a well balanced Audit Readiness process includes:
- An internal assessment of control deficiencies in relation to the information reporting program;
- Analyses of past compliance levels and any management reporting on information compliance levels;
- "B" and Penalty notice issues being resolved, supported and documented;
- Well documented information process with operation policies ensuring compliance activity, and
- An external consultant focusing on issue that matter.
With our extensive background in tax information reporting for federal, state and local taxing
authorities we are able to assist you in implementing a sustainable audit readiness process. We
focus on issues that matter and implement best practices which will improve the quality of reporting
and will reduce compliance costs.
How can we help?
We can help you design the Audit Readiness Process including;
- Risk Based Assessment Facilitations − focus on what matters;
- Integrated focus on the Account opening and payment process and along with your compliance actions;
- Enhance internal control and guidance over the information reporting process;
- Ensure that taxing authority audits are met with a clear and direct focus resulting in a positive outcome.