internal auditing is an objective assurance and consulting activity designed to add value and improve an organizations operations.it helps an organization accomplish its objectives by bringing a systematic, disciplined approach to evaluate and improve the effectiveness of risk management , control and governance processes . An internal audit reports to senior leadership, it is only that its activities are directed by CEO or board of director through its audit committee.

A partnership is a type of business entity in which partners (owners) share with each other the profits or losses of the business undertaking in which all have invested carried on by all and anyone of them acting for all, in accordance with the terms and goals set out in partnership deed.

when the IRS decide to examine your return a little more closely and verify that your tax return a little more closely and verify that your income and deductions are accurate. Typically, your tax return is chosen for audit when something you have entered on your return is out of the ordinary. similarly, income tax also mandates an audit called tax audit. It makes the process of income computation for filing of return of income easier. Tax audit in detail verification of book of accounts maintained by business and verify the accurateness of income earned & deduction claimed by assesse in income tax return.