The article focuses on the Compliance Assurance Process (CAP) program, a simultaneous auditing process that aims to potentially reduce audit procedures after the corporate tax filing date in the U.S. The process by which the program work is explained, which involves a corporation working an entire tax year with an account coordinator assigned by the Internal Revenue Service (IRS). Benefits of the CAP program include increased corporate tax compliance, while its disadvantages include resistance by a company to participate in a real-time audit program.
Cleaveland, M. Catherine, Kathryn K. Epps, and Cassie F. Bradley. "Real-Time Corporate Tax Audits and Their Impact on Financial Reporting." CPA Journal 80.1 (2010): 46-47