are audits a bad thing 
the term audit conjures up negative feelings for a lot of people because they re usually associated with tax agencies that want to review tax returns people often believe they ll be responsible for a hefty tax bill after an audit but being audited isn t necessarily a bad thing most agencies just want to ensure that you re following the law and taking tax credits and deductions that you re entitled to claim audits in the corporate world help companies remain compliant by reviewing financial statements to ensure that they accurately represent their financial positions 