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.
Correspondence Audit: This is the most common type of audit and is done by mail. The IRS will normally request specific documentation to support particular items on the tax return. Field Audit: This is when the IRS wants to come to your home, place of business, or your tax professionals office to perform the audit.