Recent News and Happenings
Recent News
Achieving the right balance of working capital
Working capital — the funds your company has tied up in accounts receivable, accounts payable and inventory — is a critical performance metric. During times of rising inflation and interest [...]
Beware of the gray areas in accounting
Accounting and auditing standards have come under scrutiny in the wake of recent high-profile bank failures. Investigations are currently underway about what went wrong with Silicon Valley Bank and Signature [...]
Close-up on sources of substantive audit evidence
Organizations that understand how auditors verify account balances and transactions can minimize disruptions during audit fieldwork and maximize the effectiveness of financial statement audits. Here’s a summary of the types [...]
Now hiring: 10 questions to ask bookkeeper candidates
Are you looking for someone to manage the books and records for your small business? Whether you’re operating a startup or an established business that recently lost its bookkeeper, hiring [...]
5 benefits of outsourcing your accounting needs
CPA firms do more than audits and tax returns. They can also help you with everyday accounting-related tasks, such as bookkeeping, budgeting, payroll and sales tax filings. Should your organization [...]
Update on remote auditing
Remote work became a buzz topic when the United States went into lockdown mode in 2020 to combat the effects of COVID-19. Like many companies, audit firms quickly shifted to [...]
Pick the right accounting method for your business
Timely, accurate financial information is essential to running a successful business. There are a number of accounting methods you can use to record and track your business’s financial performance. Here’s [...]
What to do if your CFO or controller leaves
A leadership departure in your accounting department can create turmoil, at least temporarily. However, it also provides an opportunity to assess the department’s performance and create a vision for how [...]
Boo! Consider a surprise audit to keep your accounting department on its toes
One of the best ways to tackle financial statement fraud is to conduct periodic surprise audits. In fact, surprise audits were associated with at least a 50% reduction in both [...]
Ratio analysis: Extracting actionable data from your financials
What do you do with your financial statements when your auditor delivers them? Resist the temptation to just file them away — they’re more than an exercise in compliance. With [...]
SEC Chair Gensler warns about conflicts of interest
Securities and Exchange Commission (SEC) Chair Gary Gensler spoke during a recent webcast to commemorate the 20-year anniversary of the Sarbanes-Oxley Act. Gensler recommended that the SEC take a “fresh [...]
Using agreed-upon procedures to target specific items of concern
Your CPA offers a wide menu of services. One flexible offering, known as an “agreed-upon procedures” engagement, provides limited assurance on a specific aspect of an organization’s financial or nonfinancial [...]