Analytical Software Tools for Auditing

Analytical software tools will never fully replace auditors, but they can help auditors do their work more efficiently and effectively. Here’s an overview of how data analytics — such as outlier detection, regression analysis and semantic modeling — can [...]

By |2021-07-23T15:14:28-04:00July 23rd, 2021|Categories: Audit, Blog|Comments Off on Analytical Software Tools for Auditing

Internal Control Questionnaires

Businesses rely on internal controls to help ensure the accuracy and integrity of their financial statements, as well as prevent fraud, waste and abuse. Given their importance, internal controls are a key area of focus for internal and external [...]

By |2021-07-19T11:42:37-04:00July 16th, 2021|Categories: Audit, Blog|Comments Off on Internal Control Questionnaires

Agile Audit – Is Your Company Ready?

Agility — or the ability to react quickly — is essential to surviving and thriving in today’s competitive landscape. Though agile techniques were originally used in the realm of software development, this concept has many applications in the modern [...]

By |2021-07-12T11:18:28-04:00July 9th, 2021|Categories: Audit, Blog|Comments Off on Agile Audit – Is Your Company Ready?

Cutoffs for Revenue and Expenses

Timing counts in financial reporting. Under the accrual method of accounting, the end of the accounting period serves as a strict “cutoff” for recognizing revenue and expenses. However, during the COVID-19 pandemic, managers may be tempted to show earnings [...]

By |2021-06-30T12:58:29-04:00June 25th, 2021|Categories: Audit, Blog|Comments Off on Cutoffs for Revenue and Expenses

Accounting Methods for Private Companies

Businesses need financial information that’s accurate, relevant, and timely. The Securities and Exchange Commission requires publicly traded companies to follow U.S. Generally Accepted Accounting Principles (GAAP), often considered the “gold standard” in financial reporting in the United States. But [...]

By |2021-06-21T09:51:19-04:00June 18th, 2021|Categories: Audit, Blog|Tags: , , , , , , |Comments Off on Accounting Methods for Private Companies

Accounting Estimates in Uncertain Times

In today’s unprecedented market conditions, it can be challenging to predict metrics that underlie your company’s accounting estimates. Examples of key “unknowns” include how much longer certain pandemic issues will continue, how federal stimulus spending will affect the economy [...]

By |2021-06-11T12:43:27-04:00June 11th, 2021|Categories: Audit, Blog|Tags: , , , |Comments Off on Accounting Estimates in Uncertain Times

Getting Your Ducks in a Row Before an IPO

Along with providing an infusion of capital to a growing company, going public brings strict financial reporting and compliance requirements that need to be in place well before the offering. To meet investor expectations for a timely closing and [...]

By |2021-06-08T19:00:20-04:00June 8th, 2021|Categories: Audit, Blog, Consulting, Internal Audit, Kevin Shives, Sarbanes-Oxley Compliance, Technology|Tags: , , , , , , , , , |Comments Off on Getting Your Ducks in a Row Before an IPO

Is Your Working Capital on Target

Working capital equals the difference between current assets and current liabilities. Organizations need a certain amount of working capital to run their operations smoothly. The optimal (or “target”) amount of working capital depends on the nature of operations and [...]

By |2021-06-07T19:23:59-04:00June 4th, 2021|Categories: Audit, Blog|Tags: , |Comments Off on Is Your Working Capital on Target

How to Strengthen your Internal Controls

Internal controls are a system of policies and procedures organizations put in place to protect assets and improve operating efficiency. Effective internal controls are critical to accurate financial reporting. A solid system of controls can help prevent, detect and [...]

By |2021-05-28T20:11:35-04:00May 28th, 2021|Categories: Audit, Blog, Internal Audit|Tags: , |Comments Off on How to Strengthen your Internal Controls
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