Weak Internal Accounting Controls That Could Trigger an IRS Audit

19 December,2022

  • Books and records that cannot be reconciled to the tax return
  • Transactions that are not properly authorized
  • Recorded transactions are not valid
  • Existing transactions are not recorded
  • Transactions are improperly valued
  • Transactions are improperly classified
  • Transaction are recorded at the improper time
  • Transactions are incorrectly summarized
  • Transactions all made by the same person or related parties
  • Significant commingling of business and personal funds

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