Reporting CAMs in the COVID-19 Era

Starting in 2019, auditors’ reports for certain public companies must contain a new element: critical audit matters (CAMs). The requirement was in effect for audits of large accelerated filers (with market values of $700 million or more) in fiscal years [...]

By |2020-07-31T14:08:58-04:00July 31st, 2020|Categories: Audit, Blog, COVID-19|Tags: , , |Comments Off on Reporting CAMs in the COVID-19 Era

Drive Success With Dashboard Reports

Timely, relevant financial data is critical to managing a business in today’s unprecedented conditions. Similar to the control panel in a vehicle or machine, dashboard reports provide a real-time snapshot of how your business is performing. Why you need [...]

By |2020-07-24T13:20:11-04:00July 24th, 2020|Categories: Audit, Blog|Tags: , |Comments Off on Drive Success With Dashboard Reports

External Audits Offer Many Benefits to Nonprofits

Your nonprofit organization may be required to hire an independent outside CPA to audit its books, depending on its annual gross receipts and other factors. Even when external audits aren’t mandated, however, they’re often recommended. These audits can provide [...]

By |2020-07-17T12:47:33-04:00July 17th, 2020|Categories: Audit, Blog, Nonprofit|Tags: , , , , |Comments Off on External Audits Offer Many Benefits to Nonprofits

Reporting Embedded Leases

In 2016, the Financial Accounting Standards Board (FASB) published guidance that requires major changes to how leases are reported on financial statements. One area of the guidance that’s especially complicated relates to “embedded” leases. Updated guidance Organizations are required [...]

By |2020-07-10T14:10:11-04:00July 10th, 2020|Categories: Audit, Blog, COVID-19|Tags: , , , |Comments Off on Reporting Embedded Leases

Guide: SOC 2 & Risk Management

Formally identifying and addressing risk is an audit requirement, but is also a responsible exercise for your company to undertake. Download our guide and gain insight into the types of risks that should be on your radar. [...]

By |2020-07-10T17:24:47-04:00July 10th, 2020|Categories: Audit, Blog, System and Organization Control, Technology, Venture Capital|Tags: , , , , , , |Comments Off on Guide: SOC 2 & Risk Management

Accounting for Cloud Computing Arrangements

The costs to set up cloud computing services can be significant, and many companies would prefer not to immediately expense these setup costs. Updated guidance on accounting for cloud computing costs aims to reduce differences in the accounting treatment [...]

By |2020-07-06T13:18:19-04:00July 6th, 2020|Categories: Audit, Blog|Tags: , , , , |Comments Off on Accounting for Cloud Computing Arrangements

Establishing Your Company’s Risk Appetite

The Committee of Sponsoring Organizations of the Treadway Commission (COSO) recently published new guidance on how companies can promote “risk appetite” as part of decision-making. It’s especially relevant in today’s uncertain marketplace. Digesting the new guidance The COSO guidance, [...]

By |2020-06-26T12:52:49-04:00June 26th, 2020|Categories: Audit, Blog, COVID-19|Tags: , , |Comments Off on Establishing Your Company’s Risk Appetite

Asset Impairment is Expected to Hit 2020 Financial Statements

Some companies are expected to report impairment losses in fiscal year 2020 because of the COVID-19 crisis. Depending on the nature of your operations and assets, the pandemic could be considered a “triggering event” that warrants interim impairment testing. [...]

By |2020-06-19T13:42:33-04:00June 19th, 2020|Categories: Audit, Blog, COVID-19, GAAP|Tags: , , , , |Comments Off on Asset Impairment is Expected to Hit 2020 Financial Statements

Is It Time To Outsource Finance and Accounting?

Outsourcing may appeal to organizations that are currently struggling with mounting overhead costs during the COVID-19 crisis. By outsourcing, you convert certain fixed overhead costs associated with compensating and supporting employees into variable costs that can be scaled back [...]

By |2020-06-12T15:51:15-04:00June 12th, 2020|Categories: Audit, Blog, Outsourced Accounting|Tags: |Comments Off on Is It Time To Outsource Finance and Accounting?

Overcoming The Challenges Of Remote Auditing During The COVID-19 Crisis

Many people are currently working from home to help prevent the spread of the novel coronavirus (COVID-19). Your external auditors are no exception. Fortunately, in recent years, most audit firms have been investing in technology and training to facilitate [...]

By |2020-05-22T13:27:17-04:00May 22nd, 2020|Categories: Audit, Blog, COVID-19|Tags: , , |Comments Off on Overcoming The Challenges Of Remote Auditing During The COVID-19 Crisis