Posts Tagged ‘Audit’

Accounting & Audit Alert- Avoiding conflicts of interest with auditors

A conflict of interest could impair your auditor’s objectivity and integrity and potentially compromise you company’s financial statements. That’s why it’s important to identify and manage potential conflicts of interest. What is a conflict of

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Posted In: Alerts & Advisories

Accounting & Audit Alert- Gifts in kind: New reporting requirements for nonprofits

On September 17, the Financial Accounting Standards Board (FASB) issued an accounting rule that will provide more detailed information about noncash contributions charities and other not-for-profit organizations receive known as “gifts in kind.” Here are

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Posted In: Alerts & Advisories

Accounting & Audit Alert- Auditing revenue

Traditionally, audit procedures for private companies tend to focus on the balance sheet. That is, auditors evaluate whether the book values of the company’s assets are overstated and its liabilities are understated. However, the income

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Posted In: Alerts & Advisories

Accounting & Audit Alert – How to report COVID-19-related debt restructuring

Today, many banks are working with struggling borrowers on loan modifications. Recent guidance from the Financial Accounting Standards Board (FASB) confirms that short-term modifications due to the COVID-19 pandemic won’t be subject to the complex

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Posted In: Alerts & Advisories

Bob Babine to Present at Massachusetts Brewers Guild Conference

On Tuesday, October 6, 2020, Accounting & Audit Partner, Bob Babine, will be presenting at the Mass Brewers Guild Technical Brewing & Business Conference (MBG Con). Bob will be presenting with Adam Romanow, Founder of

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Posted In: Events

Accounting & Audit Alert- Reporting discontinued operations today

Marketplace changes during the COVID-19 crisis have caused many companies to make major strategic shifts in their operations — and some changes are expected to be permanent. In certain cases, these pivot strategies may need

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Posted In: Alerts & Advisories

Accounting & Audit Alert- Levels of assurance: Choosing the right option for your business today

The COVID-19 crisis is causing private companies to re-evaluate the type of financial statements they should generate for 2020. Some are considering downgrading to a lower level of assurance to reduce financial reporting costs —

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Posted In: Alerts & Advisories

Accounting & Audit Alert- Promoting and reporting diversity

Increasing diversity is a key initiative at many companies in 2020. This movement goes beyond social responsibility — it can lead to better-informed decision-making, improved productivity and enhanced value. Congress has also jumped on the

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Posted In: Alerts & Advisories

Accounting & Audit Alert- 3 steps to “stress test” your business

During the COVID-19 crisis, you can’t afford to lose sight of other ongoing risk factors, such as cyberthreats, fraud, emerging competition and natural disasters. A so-called “stress test” can help reveal blind spots that threaten

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Posted In: Alerts & Advisories

Accounting & Audit Alert – Forecasting financial results for a start-up business

There’s a bright side to today’s unprecedented market conditions: Agile people may discover opportunities to start new business ventures. Start-ups need a comprehensive business plan, including detailed financial forecasts, to drum up capital from investors

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Posted In: Alerts & Advisories