Why Meetings With Your Auditor Are Important

Remote audit procedures can help streamline the audit process and protect the parties from health risks during the COVID-19 crisis. However, seeing people can be essential when it comes to identifying and assessing fraud risks during a financial statement [...]

By |2020-09-28T17:39:14-04:00September 28th, 2020|Categories: Audit, Blog|Tags: , , , , , |0 Comments

On-Time Financial Reporting Is Key In Times Of Crisis

Many companies are struggling as a result of shutdowns and restructurings during the COVID-19 crisis. To add insult to injury, some have also fallen victim to arson, looting or natural disasters in 2020. Lenders and investors want to know [...]

By |2020-09-21T12:39:02-04:00September 11th, 2020|Categories: Audit, Blog|Tags: , , , |Comments Off on On-Time Financial Reporting Is Key In Times Of Crisis

Reporting Discontinued Operations Today

Marketplace changes during the COVID-19 crisis have caused many companies to make major strategic shifts in their operations — and some changes are expected to be permanent. In certain cases, these pivot strategies may need to be reported under [...]

By |2020-09-04T13:15:09-04:00September 4th, 2020|Categories: Audit, Blog|Tags: , , , , |Comments Off on Reporting Discontinued Operations Today

Levels Of Assurance: Choosing The Right Option For Your Business Today

The COVID-19 crisis is causing private companies to re-evaluate the type of financial statements they should generate for 2020. Some are considering downgrading to a lower level of assurance to reduce financial reporting costs — but a downgrade may [...]

By |2020-08-28T13:44:47-04:00August 28th, 2020|Categories: Audit, Blog, GAAP, Uncategorized|Tags: , , , , |Comments Off on Levels Of Assurance: Choosing The Right Option For Your Business Today

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

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

Beware: Coronavirus may affect financial reporting

The coronavirus (COVID-19) outbreak — officially a pandemic as of March 11 — has prompted global health concerns. You may also be worried about how it will affect your business and its financial statements for 2019 and beyond. Close up on financial [...]

By |2020-03-25T18:15:12-04:00March 18th, 2020|Categories: Audit, Blog, COVID-19|Tags: , , , |Comments Off on Beware: Coronavirus may affect financial reporting

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: , |Comments Off on Let Financial Statement Audits Boost Your Business