If you’re a business owner or executive whose firm is currently under a business tax audit, or, have not completed an internal financial audit recently, then you will want to pay close attention…
Whether internal or currently being audited by the IRS, I have helped hundreds of local business owners, executives of firms, non-profits, and government contractors complete audits – painlessly.
Here’s how I can help you with your business audits and the IRS:
- Limit & Control Your Business Risk & Exposure
- Defend Against IRS Audits
- Conduct An Internal Business Audit (All with me!)
By definition, audit documentation is the written record of the basis for the auditor’s conclusion that provides the support for the auditor’s representations, whether those representations are contained in the auditor’s reports or otherwise. Audit documentation may also be referred to as work papers or working papers. Whatever the definition, just the word ‘audit’ can be scary.
Can’t think of a way “out of the audit mess” when it comes to your business financials? Your local expert is here to help.
Staring at a business financial audit notice from the IRS? Don’t delay. This is exactly where I jump in.
Business financial misstatements could cost you a ton. Managing business accounting services and bookkeeping processes can be the life or death of your business from an IRS audit or investor/lender perspective.
Here is my 7-step business & IRS financial audit process:
- Immediately Identify the Audit Areas
- Set An Auditing Schedule
- Notify Relevant Departments Of Audit
- Speak directly with your IRS Auditor
- Complete Interviews & Analysis
- Review & Deliver Audit Results to You First
- Submit & Clear the Audit Quickly
Whether your business is thriving or surviving, business accounting and bookkeeping audits happen and only successful audits allow businesses to continue to operate. I make that happen…
That’s why it’s imperative that you conduct a routine internal business financial audit process from time to time on your business…so that you keep your business compliant, your financials accurate, and up-to-date. Don’t let unreported income or overstated expenses trigger an audit or make the audit process worse. Let me ferret out the issues quickly.
Here are the “tools” auditors and I use to gather evidence:
- Analytical Analysis – Compare what’s expected to be on the books versus what’s actually on the books.
- Confirmations – Gather independent verifications that support the company’s assertions.
- Record Inspections – Request relevant documents in support of the company’s assertions.
- Observation – Watch employees fulfill job responsibilities to understand how the job gets done.
- Recalculation – Verify that the math in the financial statements (or other financial documents) is correct.
- Reperformance – Complete the business business accounting and bookkeeping for the company to make sure all rules, regulations, and laws are being followed.
- Scanning – Review general ledger or other business business accounting reports to verify accuracy.
- Review – Verify that all assets on the company’s balance sheet exist.
If you’re preparing for investors to invest or lenders to lend, then you need my expert internal financial audit to fulfill your duties as a business owner — and increase your chances of investors and/or lenders committing to your company.
And this is why as your Expert Auditor & Master Business Accountant along with my In-House CPA, I’m crucial to the financial success of your business.
As your Top Rated® Local Expert Auditor, & Master Virtual Business Accountant, I deliver the objectivity necessary when Audits are conducted delivering the Audited reports and documents on time.
Let me help you complete a third-party internal business financial audit, as well as assist your business when under an IRS audit.
Know where your business financials stand, right now.
What Is A Third-Party Financial Business Audit?
An internal financial audit process investigates internal business financials (and other information) through a third party so that there is no bias for or against the company or, misappropriation of funds.
The goal of this internal business audit is to make sure that your business is accurately tracking and reporting financials, as well as operating within regulatory laws and compliance, including corporate governance as it relates to managing business accounting processes. These internal controls determine whether or not a business is financially succeeding.
What’s more, a third-party business financial audit is required (and highly encouraged) if you plan to bring on investors or attract partners to your business, boardroom, or company/firm.
Lenders also dig into your financials to determine the risk against providing loans and other financial support.
Finally, routine internal business financial audits are a best practice to defend against IRS audits.
Certain revenue and income thresholds can trigger IRS financial audits, as well as inconsistent tax filings…which means if your business financials are not spot-on accurate, then you could be setting yourself up for an IRS audit—potentially costing you your business. Don’t let this happen.
If you’re struggling to “keep up” with your financials… or simply don’t have the time or acumen to manage them, then it’s time to trust your Expert Outsourced Bookkeeper, Master Auditor, and In-House CPA/Business Accountant all under one roof.
I can help you complete a third-party internal business financial audit process, as well as assist in defending your business against IRS audits. I am the auditor your business needs.
Know where your business financials stand, right now. Let me audit your Business and save you a ton.
Don’t let the IRS or the fear of NOT conducting a business review stand in your way. Let an expert handle your comprehensive audit, today. I’ll save you and your business.
What Clients Are Saying
Why Should You Trust Me?
I’m your 15+ year experienced Master Virtual Bookkeeper & Expert Outsourced Business Accountant. I help Owners & Top Executives of businesses & firms doing $500K – $75M+ in annual revenue bring back years of financials current. Re-creating & Reconstructing financials where necessary.
Over the years, I’ve helped hundreds of businesses across dozens of industries.
When you choose me, you work with The Top Rated Local® Master Bookkeeper & Expert Business Accountant in Maryland, N. Virginia, DC, Delaware, Pennsylvania & Nationwide.
No more working with mass, out of touch call centers that aren’t invested in you or your business's success. I am.
I act as your local, online Master Bookkeeper, Business Accountant AND tax & business accounting department.
All in one!
Getting Audited-Who Do I Help?
Business Owners, Executives & Non Profits
Business & IRS Audits assistance for single and multiple business entities, executives of firms & non-profits servicing every industry:
How Do You Work With Me?
Step #1
Call me today OR fill out my FREE financial analysis submission form.
Step #2
We'll discuss the exact details surrounding your Audit.
Step #3
I'll propose a sound comprehensive Audit solution specifically for your business & then, get it done!
Serving Top Owners & Executives in Maryland, N. Virginia, DC, Delaware, Pennsylvania & Nationwide.
*All tax consulting, preparation and filing conducted via Rescue Business Tax Services, LLC and can only be performed by a licensed CPA.
Frequently Asked Questions
We're currently going through an IRS audit and some of our records aren't in great shape, is that going to make things worse?
When your books are disorganized, expenses are mixed together, or documentation is missing, every unanswered question creates more friction. The longer that mess sits there, the more difficult it becomes to explain what actually happened.
IRS Audit Defense means cleaning up the records fast, separating what belongs where, and building the documentation that supports the numbers you are standing behind.
The IRS is already looking. Do not give them more to question. Clean up the records, tighten the documentation, and take control of the audit.
A labor board audit found that we misclassified our workers, and now the IRS is involved too, how do these two audits connect?
They connect fast, because worker classification directly affects payroll taxes.
Once a labor board determines those 1099 contractors should have been W-2 employees, the tax exposure is already on the table. If you do nothing, one audit turns into a second problem with payroll taxes, penalties, and more scrutiny.
A Worker Classification Audit response needs to address the classification issue, correct the payroll setup, and deal with the tax consequences before they keep expanding.
One audit already opened the door. Fix the classification and payroll tax exposure before the IRS pushes it wide open.
We got a notice that we're being audited and we're honestly not sure what triggered it, how do we figure that out?
You figure out exactly what the IRS is questioning before you make another move.
An audit notice is not the time to guess. Inconsistent filings, missing income, unsupported expenses, or years of filing issues could all put specific areas of your return under scrutiny. If you respond without knowing what they are targeting, you risk creating more questions.
A strong IRS Audit Defense starts by identifying the exact issues under review, gathering the right records, and building a response around the facts.
Do not guess your way through an IRS audit. Find out exactly what they are targeting, build the right response, and get ahead of it fast.
Should I do an internal audit even if the IRS hasn't contacted us yet?
Yes. The best time to find a financial problem is before someone else finds it for you.
Bad classifications, missing documentation, inaccurate balances, and weak financial records do not become less dangerous because nobody has questioned them yet. The longer they sit, the more exposure you carry into an IRS review, financing request, investor conversation, or business sale.
An Internal Business Audit puts your financials under pressure before an outside party does, so you know exactly what needs to be corrected.
Find the problem before someone else does. Pressure-test the financials now, fix the weak spots, and keep control on your side.
We're trying to get financing and the bank wants audited financials from past years, but our books aren't in that kind of shape, what now?
Then the books become the bottleneck, and the financing stops until they are fixed.
Banks do not approve serious money based on sloppy records. If your P&Ls, balance sheets, and supporting documents do not hold up under review, the lender has every reason to slow the deal down or walk away.
The solution is to get the historical books cleaned up, corrected, and audit-ready so the financial statements stand up to scrutiny.
Weak books can kill a strong deal. Get the records audit-ready, give the bank what it needs, and keep the financing moving.
Our accountant told us everything was fine right before we got hit with an audit finding, how did that happen?
Because “everything looks fine” is not the same as proving everything is right.
If your accountant misses a worker classification issue, reporting problem, or weak documentation, you are the one who deals with the fallout when an auditor finds it. And once that happens, the penalties, cleanup, and pressure land on your business.
A Third-Party Audit Review puts a fresh set of eyes on the areas that matter and finds the gaps before they turn into another expensive surprise.
“Everything looks fine” is not proof. Verify the numbers, expose the gaps, and make sure the next surprise is not an expensive one.
If we're not currently being audited, is there still a reason to go through this process now?
Yes. The worst time to find a financial problem is when someone else is already looking at it.
If your books are weak, your documentation is sloppy, or your financials do not hold up under scrutiny, that problem is already there. Waiting until the IRS, a bank, or a buyer finds it only puts you on the defensive.
Routine Internal Financial Audits expose the gaps, correct the records, and make sure your numbers are ready before the pressure hits.
The problem is cheapest to fix before the pressure hits. Find it now, correct it now, and make sure your numbers are ready when it counts.
