Related Posts
Rising Star
Can someone please take a look at my resume
Additional Posts in Tax Bowl
Is the market due for a correction anytime soon?
Visual Storyteller
Coach
What is Op Transfer Pricing
New to Fishbowl?
Download the Fishbowl app to
unlock all discussions on Fishbowl.
unlock all discussions on Fishbowl.
Carefully???
2 year comparison
Source document to return current year, 2 year comparison for return and source document. Sometimes you need to check input too
First read 10K or FS - every page
Print off CY and PY returns
Lay them side by side in front of you
Go line by line comparing CY to PY
One page at a time
Things jump out at you
Software can also do 2 year comparison
But doing it this way first makes you think
When I reviewed returns after Manager review the thing that would really get me ticked off is for example big LIHTC or other recurring tax credit on prior year but no such credit on current year draft and preparer senior and Manager did not think to follow up. It’s that kind of obvious thing that’s so easy to see.
Actually reading the questions, create a checklist of stuff you’ve missed in past
I always open the PY first to go page by page amd note any major differences. The 2 year comp is good but it's aggregated, I like forms view.
Depends on the level of review. Self-review and detail review should be ticking and tying all the numbers, reading checkboxes, and comparing line by line with prior year as most have said. High level review isn’t going to look at every number, but the bigger items and presentation, but I’ll look in more detail if I know the detail reviewer ended up making a lot of updates themself.