Audit opinions: How your financial statements measure up

Audit opinions differ depending on the information available, financial viability, errors discovered during audit procedures and other limiting factors. The type of opinion your auditor issues tells stakeholders whether you’re in compliance with accounting rules and likely to continue [...]

By |2018-10-12T13:32:51+00:00October 12th, 2018|Categories: Audit, Blog, Small Business Services|Tags: , |0 Comments

Should cloud computing setup costs be expensed or capitalized?

Companies will be able to capitalize, or spread out the costs of, setting up pricey business systems that operate on cloud technology under an update to U.S. Generally Accepted Accounting Principles (GAAP). Here are the details. FASB responds to business [...]

By |2018-10-05T12:43:32+00:00October 5th, 2018|Categories: Audit, Blog, Small Business Services, Tax|Tags: , |0 Comments

Sustainability reports look beyond the numbers

In recent years, environmental, social and governance (ESG) issues have become a hot topic. Many companies voluntarily include so-called “sustainability disclosures” about these issues in their financial statements. But should the Securities and Exchange Commission (SEC) make these disclosures [...]

By |2018-09-14T14:21:54+00:00September 14th, 2018|Categories: Audit, Blog, Tax|Tags: |0 Comments

Let Financial Statement Audits Boost Your Business

As a privately held company, you are not required to prepare and submit financial statement audits. Currently, U.S. government regulators require that only public companies that sell stock or bonds, or companies that are in the process of going public [...]

By |2018-08-28T20:41:27+00:00August 28th, 2018|Categories: Audit, Blog|Tags: , |0 Comments

How to Prepare for a Business Valuation

A key starting point to establishing your business worth is to assemble all the required information: the business financial statements, operational procedures, marketing and business plans, customer and vendor information, and staff records. Well-documented financial statements and tax returns [...]

By |2018-08-28T20:37:58+00:00August 28th, 2018|Categories: Audit, Blog|Tags: |0 Comments

Identifying and reporting critical audit matters

For over 40 years, the Securities and Exchange Commission (SEC) has required only a simple pass-fail statement in public companies’ audit reports. But the deadline for mandatory reporting of critical audit matters (CAMs) in audit reports is fast approaching. [...]

By |2018-08-24T14:23:43+00:00August 24th, 2018|Categories: Audit, Blog|0 Comments

It’s important to monitor your SEC filing status

As public companies grow, they may move from one filing status or issuer category to another. Recent and proposed changes to the Securities and Exchange Commission (SEC) rules for some categories could affect your company’s financial reporting and audit [...]

By |2018-08-10T12:17:29+00:00August 10th, 2018|Categories: Audit, Blog|Tags: , , |0 Comments

Auditing the use of estimates and specialists

Complex accounting estimates — such as allowances for doubtful accounts, impairments of long-lived assets, and valuations of financial and nonfinancial assets — have been blamed for many high-profile accounting scams and financial restatements. Estimates generally involve some level of [...]

By |2018-08-03T17:54:19+00:00August 3rd, 2018|Categories: Audit, Blog|Tags: , , , |0 Comments