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Limited Audit

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Limited Audit
An audit with a narrow scope. There are three types of limited audit. Some may only involve the investigation of certain departments, accounts or other units. Others may be short-term; that is, they may cover only the previous year. Finally, some may be limited to a specific subject, such as taxes or potential fraud.


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To augment self-reporting, FERC officials told us that, in 2008, they are using an informal plan to reallocate their limited audit staff to audit the affiliate transactions of 3 of the 36 holding companies it regulates.
The principal purpose of the Issue Focus approach is to set priorities in respect of LMSB's limited audit resources.
WALKER: Seek authority for limited audits of businesses that get tax subsidies to measure their job creation and other benefits.
 
 
 
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