Audit Team
The team performs audits of business operations to ensure equitable licensing classification, accurate business assessment reporting, and compliance with other taxing directives as propagated by the Commonwealth of Virginia and the City of Norfolk.
Basic Audit Procedures
Audit selection is conducted with the use of trend, risk, and financial ratio analysis. An audit engagement letter or request for information requires a business to make available for examination, all pertinent:
Books of record
Client prepared work papers
Federal, state, and local tax returns
Source documents, receipts, and invoices
Transaction journals