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Statutory audit definition

Accounting Tools

What is a Statutory Audit? A statutory audit is an examination of an entity's financial records in accordance with the requirements of a government agency. A number of organizations must undergo statutory audits, including banks, brokerage firms, insurance companies, and municipalities.

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Government auditing standards definition

Accounting Tools

What are Government Auditing Standards? Government auditing standards are used to conduct financial audits and performance audits of government entities and entities that receive government awards.

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Types of accounting

Accounting Tools

There are several types of accounting that range from auditing to the preparation of tax returns. Or, if a company is publicly-held , it requires a knowledge of the standards issued by the government entity responsible for public company reporting in a specific country (such as the Securities and Exchange Commission in the United States).

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Yellow book definition

Accounting Tools

Related Courses Auditing State and Local Governments Governmental Accounting The Green Book Explained The Yellow Book Explained What is the Yellow Book? The Yellow Book contains the complete set of Generally Accepted Government Auditing Standards. Users of the Yellow Book are primarily CPAs and government auditors.

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External control definition

Accounting Tools

An external control is an action taken by an outside party that impacts the governance of a business. For example, a government could enact a law that prohibits a firm from using discriminatory hiring practices. Or, a company could impose audits on its suppliers to ensure that they are complying with minimum labor standards.

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Stay Tax-Savvy: Regional Invoicing Rules Explained

Invoicera

In this article, we’ll discuss regional invoicing rules and best practices for businesses to manage internal invoicing. Let’s explore regional invoicing and the laws governing it. Moreover, proper invoicing practices are highly crucial during tax audits. This guide should be all that you need. What Are Regional Invoicing Rules?

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Payroll procedure

Accounting Tools

Related Courses How to Audit Payroll Optimal Accounting for Payroll Payroll Management How to Process Payroll The processing of payroll can produce errors in several places, which calls for a detailed process flow that also incorporates several controls. Deposit Taxes Deposit payroll taxes and verify their transmission to the government.

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