Have you received notice for a tax audit from the IRS? Are you prepared to deal with this legal matter? Most of the people hire tax attorneys to fight the issue. However, there are few people who think that they can deal with the IRS on their own. It is possible, but most of the time they find themselves in a mess just because of misinformation and little knowledge about work ethics of the IRS. For most people the main reason for not hiring any tax professional or tax attorney is to save money.

The ACCA (Association of Chartered Certified Accountants) hosted a public debate entitled “Future of Audit” to discuss the increasing public interest in the work of auditors in current economic conditions around the world. Topics discussed included role of audit in society, tackling the lack of transparency, addressing corruption, calls for stricter adherence to existing regulations and greater cooperation with regulators, the economics of audit in times of downturn, proportionate and fair limitation of auditor liability.