There are certain skills and expertise required to do an audit properly; it is not something that just anybody can do. The primary goal of a tax audit is to examine whether or not an individual or a business taxpayer is current on their tax obligations.
We use a fine-tooth comb to filter through data at Nordens. Practice with unrivalled precision is critical to us, and the years of collective expertise we’ve gathered allows us to achieve exactly that!
One of the primary responsibilities of the audit is to provide impartial and qualified reports based on an examination of the objective information that underlies the data that has been collected and evaluated.
What is the purpose of a tax audit?
If a business wants to minimise financial risk and save as much money as possible, it’s a must to conduct an annual tax audit to verify and analyse its tax status. This helps the firm to identify the degree of financial risk it is taking on. Businesses and entrepreneurs must be conscious and manage the risks they take in order to grow their businesses.
What does a tax audit consist of?
It is a wide analytical method that considers numerous elements to determine if the company’s economic and financial operations are up to date. The tax audit entails reviewing a company’s financial position, which entails analysing numerous areas in order to determine the company’s situation. These elements include balance sheets, which are regarded as ‘photographs’ of the business since they depict the true condition of the firm at a certain point in time; and the income statement, which is also necessary to evaluate the monetary status of the organisation.
Tax auditing is important – though perplexing – aspect of operating a business. Contact us if you require our specialist tax auditing services.
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OUR SERVICES
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Tax
We value that the majority of new customers come to us through recommendations and that they strongly believe we provide an excellent accounting service.
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Strategic Advisory
Our strong, enduring relationships with our clients mean we can concentrate on creating better strategies for their businesses to succeed.
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Audit & Assurance
Nordens Audit Ltd conducts all audits; these are an in-depth investigation of a firm and are used to determine the state of a corporation.
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Accounting Compliance
Every business, no matter how large or small, has to make the correct choices, and figuring out how to effectively manage your accounts might raise a lot of questions.
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Restructuring & Insolvency
Within our professional restructuring and insolvency team we have a plethora of experience in assisting companies, creditors, and individuals' concerns.
