The following workpapers are generally examinable by the Service during an exami
ID: 2589912 • Letter: T
Question
The following workpapers are generally examinable by the Service during an examination of a corporate taxpayer:
A. Tax accrual workpapers.
B. Effective tax rate workpapers.
C. Audit workpapers prepared by an independent accountant during the process of examining the taxpayer's accounting books and records and methods of accounting to assure compliance with GAAP.
D. All of the above.
E. None of the above.
A. Tax accrual workpapers.
B. Effective tax rate workpapers.
C. Audit workpapers prepared by an independent accountant during the process of examining the taxpayer's accounting books and records and methods of accounting to assure compliance with GAAP.
D. All of the above.
E. None of the above.
Explanation / Answer
Answer a
A. Tax accrual workpapers.
Explanation : Tax accrual workpapers are kind od subset of audit workpapers & are prepared by corporate tax payers or any independent third party not being an audit firm. Tax accrual workpapers , generally gives an idea about the preparation of the return thus are generally examinable by the Service during an examination of a corporate taxpayer
Effective tax rate workpapers.are nither considered as audit workpapers nor tax accrual workpapers thus are not generally examinable by the Service.
Audit workpapers are prepared by an independent accountant are not examinable by the Service during the starting or intial phase of examination of a corporate taxpayer
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