Ten officers from the Inland Revenue Board (IRB) visited the office of Magnum Sdn Bhd (Magnum) this morning without any prior notice. On arrival, they informed Magnums finance director, Uma Devi, that the company is under tax investigation. As you are the tax adviser of Magnum, Uma Devi contacted you immediately. As he and his finance team are busy preparing for a corporate transaction, Uma Devi is wondering whether it is possible to ask the IRB officers to come back at a later date.

Required: Explain the difference between a tax audit and a tax investigation in terms of purpose and prior notice and whether it is possible for Magnum Sdn Bhd to request the Inland Revenue Board (IRB) to defer the investigation procedure.