Auditing Is Too Important to Be Left to the Auditors!
The current system of audits — i.e. doing spot checks in the hopes they will be representative of the business' financial processes — could be entirely replaced by continuous blockchain traceability, said Hill.
However, it is also important to point out that it is also used for Trust audits (i.e. to facilitate projects approved by statutory audit committees).
Trump Won't Release Tax Returns, Citing IRS Audit: Is It A Legitimate Excuse?
See HUGE Taxpayer Win: Supreme Court Tells IRS 3 Years To Audit Is PLENTY!
HUGE Taxpayer Win: Supreme Court Tells IRS 3 Years To Audit Is PLENTY!
"I guess when you have a name, you are audited, but until such time as I'm not under audit I would not be inclined to do that," he said.
To get the idea of what an audit summary might look like, you can refer to an example audit I did last time I offered this course.
"Now we have a mini-audit — I guess because we have just one employee, they don't want to waste their time," Ms. Parker said.
