Automated Auditing Tools sub-Activity Sample Clauses

Automated Auditing Tools sub-Activity. MCC Funding will purchase software licenses for automated auditing tools and provide computers to run them. MCC Funding will also pay for a subscription to a data base service to provide BIR with transfer pricing information and provide training for the use of these tools. The automated auditing tools will leverage a recent BIR decision that requires large taxpayers to maintain and submit tax records in digital form and will also expand on a pilot program sponsored by the Swedish International Development Agency that demonstrates the values of these tools. These auditing tools have demonstrated their revenue-raising potential, and they also reduce by half the number of days it takes to complete an audit. These tools also remove one taxpayer concern about the fairness of an audit that is based on sampling rather than a review of all transactions. The reduction in man days per audit will help the BIR to reduce its backlog of unfinished audits.