Business People Talking Planning Job Concept | Business People Talking Planning Job Concept
Audit
November 4, 2019

Complying with ERISA Law with an Employee Benefit Plan Audit

Audits of financial statements are key factors to establish trust and reasonable assurance of your company’s financial reporting. It is common practice to hire an independent certified public accountant (CPA) to obtain reasonable proof that…
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COSO Framework | Diverse People Deal Teamwork Together Partnership
Audit
October 22, 2019

The COSO Internal Control Framework and Your Company’s Internal Control Processes

In 1992, the Committee of Sponsoring Organizations of the Treadway Commission (COSO) developed a flexible framework for designing, implementing and evaluating internal controls. On May 14, 2013, COSO issued a new Internal Control – Integrated…
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SOC Report | Two men working in an office looking at a computer screen
Audit
September 24, 2019

Establishing Trust with SOC Reports

When it comes to outsourcing different services related to your financial records or customer data, it is critical to verify that the service organization has effective internal controls in place. This is where a System…
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Elderly Businessmen having a meeting | Critical Audit Matters: The Most Important Change to Audit Reporting
Audit
August 22, 2019

Critical Audit Matters: The Most Important Change to Audit Reporting

In June 2017 the Public Company Accounting Oversight Board (PCAOB) issued perhaps the single most meaningful change to the auditor’s report since the 1940s. The new PCAOB auditing standard, dubbed AS 3101, includes the communication…
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Man working at his desk doing calculations and audit preparation | 5 tips for successful audit preparation
Audit
August 6, 2019

Audit Preparation: 5 Tips for a Successful IRS Audit

It is routine practice for the Internal Revenue Service (IRS) to perform audits. While an IRS audit typically carries a negative connotation, designation for an audit is not a steadfast indicator of any wrongdoing. In…
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Businessman making notes at his office desk | restatement of financial statements
Audit
July 26, 2019

Restatements: The Costly Result of an Error

Corporate officers, auditors and audit committees all work towards ensuring US publicly traded companies provide accurate corporate financial reports to investors. However, even with all of the different components working diligently to present clear and…
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Man in a bike shop holding a business meeting | SEC Compliance: Growing Scrutiny of Private Companies
Audit
July 25, 2019

SEC Compliance: The SEC and Growing Scrutiny of Private Companies

Public companies are subject to detailed disclosure laws regarding financial condition, operating results, management compensation and other business areas. However, private companies are not entirely exempt from SEC scrutiny. In March 2018, the SEC brought…
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Audit
June 14, 2019

AUP engagements: A middle ground between audits and consulting services

Your CPA offers a wide menu of services. An audit is a familiar type of attestation service that provides a formal opinion about whether the company’s financial statements conform to U.S. Generally Accepted Accounting Principles…
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Audit
June 10, 2019

Measuring “fair value” for financial reporting purposes

The standard for valuing certain assets and liabilities under U.S. Generally Accepted Accounting Principles (GAAP) is “fair value.” This differs from other valuation standards that may apply when valuing a security or business interest in…
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Audit
May 29, 2019

Close-up on financial statements

There are three types of financial statements under U.S. Generally Accepted Accounting Principles (GAAP). Each one reveals different, but equally important, information about your company’s financial performance. And, together, they can be analyzed to help…
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