â I nsider tradingâ refers to transactions in a companyâs securities, such as stocks or options, by corporate insiders or their associates based on information originating within the firm that would, once publicly disclosed, affect the prices of such securities.
A: A management letter is an auditor's letter addressed to the client, according to Allbusiness.com. It is a letter written by company management that confirms the accuracy of an audit. An audit is an examination and verification of a company's financial and accounting records and supporting documents presented by a professional, such as a certified public accountant.
According to the IRS, most audits are conducted within two years of filing. If the agency decides to audit you, youâll get a letter in your mailbox -- the IRS doesnât call or email. The letter will outline which yearâs tax return is being examined and what you need to do about it.