Auditing Accounting Estimates and the Use of Specialists

The Public Company Accounting Oversight Board (PCAOB) recently voted to finalize two related standards aimed at improving audits of accounting estimates and the work of specialists. Though the new, more consistent guidance would apply specifically to public companies, the effects [...]

By |2019-04-05T13:19:33-04:00April 5th, 2019|Categories: Audit, Blog, Tax|0 Comments

There’s Still Time for Small Business Owners to Set Up a SEP Retirement Plan for Last Year

If you own a business and don’t have a tax-advantaged retirement plan, it’s not too late to establish one and reduce your 2018 tax bill. A Simplified Employee Pension (SEP) can still be set up for 2018, and you [...]

By |2019-03-23T19:21:15-04:00March 11th, 2019|Categories: Audit, Blog, Tax, Uncategorized|Tags: |0 Comments

Auditing Cashless Transactions

Like most businesses, you’ve probably experienced a significant increase in the number of customers who prefer to make cashless payments. And you may be wondering: How does the acceptance of these types of transactions affect the auditing of your [...]

By |2019-03-11T14:48:42-04:00February 15th, 2019|Categories: Audit, Blog|Tags: |0 Comments

Evaluating your audit committee

Under the Sarbanes-Oxley Act, the audit committee — not management or the full board of directors — is directly responsible for appointing, compensating and overseeing external auditors. Periodically, it’s a good idea to assess the effectiveness of your audit [...]

By |2019-03-11T15:17:52-04:00January 25th, 2019|Categories: Audit, Blog, Tax|0 Comments

M&A due diligence: Don’t accept financial statements at face value

The M&A market was hot last year, and that momentum is expected to continue in 2019. Before acquiring another business, however, it’s important to do your homework. Conducting comprehensive due diligence can be a daunting task, especially if you’ve [...]

By |2019-01-18T12:20:05-04:00January 18th, 2019|Categories: Audit, Blog, Small Business Services|0 Comments

4 Ideas for Fostering a Partnership Between Internal and External Auditors

External audits aren’t required for every business. But whether required or not, they can provide lenders and investors with assurance that your financial statements are free from material misstatement and prepared in accordance with U.S. Generally Accepted Accounting Principles [...]

By |2019-03-11T20:01:01-04:00January 4th, 2019|Categories: Audit, Blog|Tags: , |0 Comments

How to Handle Disagreements with the IRS

You're stuck in a tax audit. After an IRS examiner receives your documentation and makes a decision regarding proposed changes to your return, there are several options available as follows: You can sign the letter stating that you agree [...]

By |2019-01-02T14:58:25-04:00January 2nd, 2019|Categories: Audit, Blog, Small Business Services, Tax|Tags: |0 Comments

Conducting an Effective Post-M&A Audit

So, you’re about to merge with another company. What’s next? The integration process typically starts with audited financial statements that reflect the results and financial position of the combined entity. This exercise requires a close partnership between the external [...]

By |2019-03-11T20:09:34-04:00December 21st, 2018|Categories: Audit, Blog, Small Business Services, Tax|Tags: , |0 Comments

How to Prepare for Year-End Physical Inventory Counts

As year end approaches, it’s time for calendar-year entities to perform physical inventory counts. This activity is more than a compliance chore. Proactive companies see it as an opportunity to improve operational efficiency. Inventory basics Under U.S. Generally Accepted [...]

By |2019-03-11T20:06:52-04:00December 14th, 2018|Categories: Audit, Blog, Small Business Services, Tax|Tags: , |0 Comments