Audit
April 3, 2019

Transparency is key with related party transactions

In recent years, external auditors have focused more attention on related party transactions. Although related party transactions aren’t necessarily bad, they do raise some concerns about the risk of misstatement or omission in financial reporting.…
Read More
Audit
March 28, 2019

ESG issues: To report or not to report?

Securities and Exchange Commission (SEC) Chairman Jay Clayton recently said that public companies shouldn’t be required to disclose information concerning environmental, social and governance (ESG) matters in their financial statements using a standardized format. Right…
Read More
Audit
March 15, 2019

Audits hone in on cybersecurity

In 2018, U.S. organizations that suffered a data breach lost an average of $7.91 million as a result. That’s the highest average organizational cost of all the countries and regions covered in the 2018 Cost…
Read More
Audit
March 14, 2019

How to report stock compensation paid to non-employees

The accounting rules for reporting stock compensation have been expanded. They now include share-based payments to non-employees for providing goods and services, under recent guidance issued by the Financial Accounting Standards Board (FASB). Old rules…
Read More
Audit
February 25, 2019

Auditing Cashless Transactions

Like most businesses, you’ve probably experienced a significant increase in the number of customers who prefer to make cashless payments. And you may be wondering: How does the acceptance of these types of transactions affect…
Read More
Audit
February 19, 2019

Public companies to disclose stock hedging policies and practices

Does your company have policies in place regarding the use of hedging transactions by company insiders? Final Securities and Exchange Commission (SEC) guidance will soon require public companies to disclose whether their officers, employees and…
Read More
Audit
February 13, 2019

Private companies: Have you implemented the new revenue recognition standard?

Private companies that follow U.S. Generally Accepted Accounting Principles (GAAP) must comply with the landmark new revenue recognition standard in 2019. Many private company CFOs and controllers report that they still have significant work to…
Read More
Audit
February 8, 2019

Evaluating your audit committee

Under the Sarbanes-Oxley Act, the audit committee — not management or the full board of directors — is directly responsible for appointing, compensating and overseeing external auditors. Periodically, it’s a good idea to assess the…
Read More
Audit
February 5, 2019

M&A due diligence: Don’t accept financial statements at face value

The M&A market was hot last year, and that momentum is expected to continue in 2019. Before acquiring another business, however, it’s important to do your homework. Conducting comprehensive due diligence can be a daunting…
Read More
Audit
January 15, 2019

4 ideas for fostering a partnership between internal and external auditors

External audits aren’t required for every business. But whether required or not, they can provide lenders and investors with assurance that your financial statements are free from material misstatement and prepared in accordance with U.S.…
Read More