Word: audite
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...University's top finance official has described the Internal Revenue Service's decision to include Harvard in its audit of 40 institutions of higher education as a natural consequence of Harvard's large and diverse operations...
...Jill Gerber, Grassley’s press secretary, said Wednesday that the Senator's office had not pushed the IRS to audit Harvard and that the IRS tends to maintain a degree of independence in these types of decisions...
...coming audit will focus on the University’s unrelated business income (revenue streams that are not tax-exempt) and compensation practices—an issue which has drawn scrutiny from some alumni in the past...
...unclear Wednesday which University officers' compensation would be examined in the audit and whether the audit would also include HMC. The IRS did not return requests for comment...
...earlier version of the Jan. 13 news article "IRS To Audit Harvard as Part of Non-Profit Probe" stated that Steven M. Rose, former tax director of Harvard Management Company, raised questions last year regarding HMC's investment practices and "profit-driven mentality." To clarify, Rose voiced such concerns to a Crimson reporter last year, but the concerns focused on HMC's practices at the time of his employment in 2001. University spokesman John D. Longbrake's statement has been added to further clarify the timing of Rose's concerns and the University's response...