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.
References in periodicals archive ?
You may suddenly find yourself over-staffed for the limited audit. If the IRS goes back to a full-scale audit the next cycle, however, then you may suddenly be understaffed.
Even what appears to be a very limited audit of the efficiency of monetary policy operations could, in fact, turn into pressure for a change in monetary policy itself.
This is a screening device that aids in assigning limited audit resources among audit objectives and subobjectives.
WTO's review noted that there are no changes to the US foreign investment policies as they maintain existing open policies, except for limited audits and restrictions on foreign investment in a few industries, especially aviation, nuclear power.
WALKER: Seek authority for limited audits of businesses that get tax subsidies to measure their job creation and other benefits.
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