Hulse then evidently told the company that there had been "significant" cost overruns on the fiscal 2002 audit, "no doubt caused by the massive reconstruction necessary to correct PwC's own errors, " the suit says.

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Only 1 out of every 503 individual returns filed got a face-to-face examination in fiscal 2010 (a 4 percent increase in coverage over fiscal year 2009), while 1 of every 110 returns got an audit by mail (a more than 8 percent increase over fiscal year2009).

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In June 2002, PwC began working on its audit of Amerco's fiscal 2002 annual filing.

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The 2010 proxy statement, dated March 2, 2010, says the IGT Audit Committee held fifteen meetings during fiscal year 2009, which ended September 30, 2009.

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These proliferated along with the Internet and a drop in individual audit rates--the IRS audited just 0.57% of returns in fiscal 2002, down from 1.67% in fiscal 1996.

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The IGT 2010 proxy goes on to say that the Audit Committee conducted a competitive process to select an independent registered public accounting firm for the 2011 fiscal year.

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Under the Companies Act of 2006, effective for the whole of the United Kingdom, auditors must sign audit opinions in their own name, for and on behalf of the firm, effective with fiscal years starting after April 6, 2008.

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The Fiscal Responsibility Law needs complementing with further reforms, for example, one to give more power and independence to the audit tribunals that are supposed to check the books at all levels of government.

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