Tag: Audit

Under the accrual method of accounting, the end of the accounting period serves as a strict cutoff for recognizing revenue and expenses. However, during economic downturns, managers may be tempted to artificially inflate earnings or Read More

Putting your business financials and processes under the microscope can be an intensive process. At the same time, the benefits of your financials undergoing such scrutiny are hard to overestimate. The revelation of even a Read More

Fraud risk assessments have been shown to prevent occupational fraud and limit losses for victimized organizations. These tools have become more prevalent in recent years, according to "Occupational Fraud 2022: A Report to the Nations" Read More

What triggers an IRS tax audit? While the IRS isn't about to publish a list of items that cause an audit red flag, there are a number of items that are known to raise the Read More