Risk Assessment: A Critical Part of the Audit Process

Audit season is right around the corner for calendar-year entities. Here’s what your auditor is doing behind the scenes to prepare — and how you can help facilitate the audit planning process. The big picture Every audit starts with [...]

By |2019-12-18T18:31:36-05:00December 18th, 2019|Categories: Audit, Blog|Tags: , , |0 Comments

Close-Up on Pushdown Accounting for M&As

Change-in-control events — like merger and acquisition (M&A) transactions — don’t happen every day. If you’re currently in the market to merge with or buy a business, you might not be aware of updated financial reporting guidance that took effect [...]

By |2019-11-18T15:17:58-05:00November 18th, 2019|Categories: Audit, Blog|Tags: , , , |0 Comments

5 Ways to Withdraw Cash from Your Corporation While Avoiding Dividend Treatment

Do you want to withdraw cash from your closely held corporation at a low tax cost? The easiest way is to distribute cash as a dividend. However, a dividend distribution isn’t tax-efficient, since it’s taxable to you to the [...]

By |2019-10-16T16:47:09-04:00September 16th, 2019|Categories: Audit, Blog, Small Business Services, Tax|Tags: , , , |0 Comments

AUP Engagements: A Middle Ground Between Audits and Consulting Services

Your CPA offers a wide menu of services. An audit is a familiar type of attestation service that provides a formal opinion about whether the company’s financial statements conform to U.S. Generally Accepted Accounting Principles (GAAP). Consulting services, in [...]

By |2019-10-17T13:41:59-04:00June 17th, 2019|Categories: Audit, Blog, Consulting, Small Business Services, 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 [...]

By |2019-03-11T15:43:07-04:00August 28th, 2018|Categories: Audit, Blog|Tags: , |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 |2019-03-11T20:52:10-04:00August 10th, 2018|Categories: Audit, Blog|Tags: , , |0 Comments

Transitioning to remote audits

Are you comfortable communicating electronically with your auditors? If so, a logical next step might be to transition from on-site audit procedures to a more “remote” approach. Remote audits can help reduce the time and cost of preparing audited [...]

By |2018-07-20T13:36:52-04:00July 20th, 2018|Categories: Audit, Blog|Tags: , , |0 Comments

Using analytical procedures in an audit provides many benefits

Analytical procedures can make audits more efficient and effective. First, they can help during the planning and review stages of the audit. But analytics can have an even bigger impact when used to supplement substantive testing during fieldwork. Defining [...]

By |2018-06-29T13:10:09-04:00June 29th, 2018|Categories: Audit, Blog|Tags: , , |0 Comments

Spotlight on auditor independence and hosting arrangements

With Independence Day coming up, it’s a good time to check up on auditor independence issues. This is especially important in 2018. Why? New rules go into effect this fall that may warrant changes to the services provided by [...]

By |2018-06-25T17:36:15-04:00June 25th, 2018|Categories: Audit, Blog|Tags: , , |0 Comments

Auditing related-party transactions

Business owners generally prefer to work with entities they know and trust. But related-party transactions can provide opportunities for individuals to act in a manner that’s inconsistent with the interests of shareholders. That’s why auditors take pains to identify [...]

By |2018-06-08T13:21:14-04:00June 8th, 2018|Categories: Audit, Blog|Tags: , |0 Comments