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But if every new client made the request, he said, the time spent on audits would mean "there would be no one to manage the money".
That costs the 3,100-student Jericho district on Long Island $124,000 a year on audits, five times as much as when it went with just one auditor, the superintendent, Henry Grishman, said.
He said that Mr. DiIorio had received two one-week training courses as part of his preparation and had also gone on audits with other auditors.
The rules would take effect on audits after Dec. 15.
Valuations are based on audits of thrift and consignment shops.
UK companies spend nearly £1.5bn each year on audits of their financial statements.
There's so much more work because of the focus on audits".
The new study was based on audits of 46,000 individual taxpayers.
Yet, corporate social responsibility initiatives and legislation continue to rely on audits and adopt audits as regulatory instruments.
The companies, which are not publicly traded, valued the deal at $10.4 billion, based on audits of their operations.
It continues to rely primarily on audits and penalties, at least where information reporting and withholding are impossible.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com