Tag: Audit and Assurance Services

Financial statements are an important piece of the business valuation puzzle. Appraisal professionals typically consider three approaches when valuing a business — the cost, market and income approaches — ultimately relying on one or two Read More

The IRS can initiate an audit of your nonprofit organization for any number of reasons. But one of the most common is a red flag sent up by your annual filing of Form 990, "Return Read More

Does your company use an external accountant to prepare its financial statements? There are several services CPAs offer that provide different levels of assurance. This term refers to how much confidence lenders and other stakeholders Read More

Footnote disclosures provide insight into account balances, accounting practices and potential risk factors. This information helps lenders, investors and other financial statement users make well-informed business decisions. Here are five critical risk factors that financial Read More

A role of CPA's is to act as "gatekeepers," emphasizing their responsibilities for identifying fraud risks and detecting material misstatements in the financial statements. These responsibilities are currently at the forefront due to changes to Read More

Analytical procedures are required for all financial statement audit engagements, according to the auditing standards published by the American Institute of Certified Public Accountants (AICPA). Audit analytics can help minimize the time and cost associated Read More

The IRS has historically considered construction a high-risk compliance industry because of its potential for cash transactions, underreported income and worker misclassification. What's more, as the tax agency rolls into the future under new leadership, Read More

If your organization has an internal audit function, you may be able to use your internal audit team to streamline financial reporting by external auditors. External auditors aren't required to use internal auditors in any Read More

The banking industry is reporting a significant increase in account fraud. A high number of instances are being reported where scammers reach out to businesses via email posing as a client or vendors informing them Read More

In our latest guide, Next Level Accounting Services, you’ll learn the benefits of accounting services that do far more than prepare your taxes and balance the books – and how to recognize when you need Read More