Contributor: Denis C. Higgins

Accounting & Audit Alert- Are you ready for the upcoming audit season?

An external audit is less stressful and less intrusive if you anticipate your auditor’s document requests. Auditors typically ask clients to provide similar documents year after year. They’ll accept copies or client-prepared schedules for certain

READ MORE

Posted In: Alerts & Advisories

Accounting & Audit Alert- Look to the future with a QOE report

Are you thinking about merging with or acquiring a business? CPA-prepared financial statements can provide valuable insight into historical financial results. But an independent quality of earnings (QOE) report can be another valuable tool in

READ MORE

Posted In: Alerts & Advisories

Accounting & Audit Alert- How to assess fraud risks today

Auditing standards require external auditors to consider potential fraud risks by watching out for conditions that provide the opportunity to commit fraud. Unfortunately, conditions during the COVID-19 pandemic may have increased your company’s fraud risks.

READ MORE

Posted In: Alerts & Advisories

Accounting & Audit Alert- FASB offers practical expedient for private companies that issue share-based awards

On October 25, the Financial Accounting Standards Board (FASB) issued a simpler accounting option that will enable private companies to more easily measure certain types of shares they provide to both employees and nonemployees as

READ MORE

Posted In: Alerts & Advisories

Accounting & Audit Alert- Data visualization: A picture is worth 1,000 words

Graphs, performance dashboards and other visual aids can help managers, investors and lenders digest complex financial information. Likewise, auditors also use visual aids during a financial statement audit to quickly identify trends and anomalies that

READ MORE

Posted In: Alerts & Advisories

Accounting & Audit Alert- Demand mounts for ESG attestations

Interest in environmental, social and governance (ESG) matters has grown significantly during the COVID-19 pandemic. And that momentum may continue under the Biden administration. Currently, about 90% of large public companies voluntarily publish so-called “sustainability

READ MORE

Posted In: Alerts & Advisories

Accounting & Audit Alert- Going concern disclosures today

With the COVID-19 pandemic well into its second year and the start of planning for the upcoming audit season, you may have questions about how to evaluate your company’s going concern status. While some industries

READ MORE

Posted In: Alerts & Advisories

Accounting & Audit Alert- 10 financial statement areas to watch for COVID-related effects

The COVID-19 pandemic is still adversely affecting many businesses and not-for-profit organizations, but the effects vary, depending on the nature of operations and geographic location. Has your organization factored the effects of the pandemic into

READ MORE

Posted In: Alerts & Advisories

Accounting & Audit Alert- Flash reports: Real-time financial reporting

Timely financial reporting is key to making informed business decisions. Managers need to know what’s in the pipeline to respond promptly and decisively. Unfortunately, it typically takes several weeks to prepare financial statements under U.S.

READ MORE

Posted In: Alerts & Advisories

Accounting & Audit Alert- Is it time to upgrade your accounting system?

Timely financial data is key to making informed business decisions. Unfortunately, it’s common for managers to struggle with their companies’ accounting systems to get the information they need, when they need it. Often, it takes

READ MORE

Posted In: Alerts & Advisories