If you are a business owner, you might be searching online for ‘bookkeepers near me’. There are more reasons to perform a corporate audit than you think. Although you are aware of the IRS audits, did you know that your business might get inspected by any of the local, state, and federal departments too?
Depending on the type of business you are running, there can be multiple reasons why these agencies would want to audit your corporation. It might be because of fire safety, verification of building codes, monitoring health, and safety related issues.
Why You Might Get Audited
Sometimes, the local authority might also want to figure out if there are any violations performed by your business related to ADA (Americans with Disabilities Act). In contrast, the state agencies might conduct an audit operation for monitoring your sales tax, and business registration along with employment issues, if any such concerns are raised.
There are several federal agencies such as the Occupational Health and Safety Agency (OSHA), the Americans with Disabilities Act (ADA), the Equal Employment Opportunities Commission (EEOC), the Department of Labor, immigration/customs (ICE), etc. They might want to audit your company to evaluate your commitment to fulfilling specific departmental requirements.
Stay Prepared Ahead of an Audit
No matter what the reason for the inspection is, you must take your time to prepare for the audit, well ahead of time. But, how do you do so? First of all, start with preparing a list of possible agencies that might want to inspect your business. Depending upon the nature of your business, specific departments might want to conduct the inspection. Keep the specific criteria in mind, and act to rectify any fault from your end.
Be Aware of Your Rights
Each type of inspection comes with several rights for the business owners. You must take into account all the instances when you might ask for something. For example, are you eligible enough to ask the audit officers to return after a few days so that you can prepare yourself for the audit? Or else, do you have the privilege of accompanying the auditor? Before allowing the inspector to enter your commercial property, can you ask them for a search warrant?
All these questions need to be answered properly for a smooth operation. You might also consider consulting with an attorney. It’s also important to contact a reliable bookkeeping firm to keep your accounts in good shape. If you are looking for a high-quality bookkeeping consultant, try contacting Virtual Jeannie Bookkeeping Services at 707-664-1425.