SMBAccountant

JULY 14, 2020

If you are submitting proposals for a government contract, the government prefers the accrual basis of accounting because it gives a more accurate picture of the company’s profit or loss. The issue is that auditors don’t arrive only after the fiscal year has been closed.

Government 246

Government accrual accounting quickbooks Account 246

Going Concern

JUNE 1, 2023

In the WaPo opinion pages yesterday one Duncan Mavin, who got his start in the 90s, says the best way to solve the audit industry’s many conflicts is to kill it altogether. He starts the piece summoning the ghost of Enron, as all writers do when discussing what happens when audit goes wrong. billion in global revenue.

auditor 116

auditor audit Government Transportation 116

SMBAccountant

NOVEMBER 4, 2020

Quality management and accounting systems go hand in hand, especially when it comes to managing government contracts. DCAA auditors not only want to see that there is a policy in place, but there is continued effort to monitor the effectiveness through separation of duties and internal audits.

Government 246

Government Account accountant accounted 246

Going Concern

SEPTEMBER 20, 2023

note: This post brought to you by the Big Government Auditing lobby. Just kidding, it’s a guest post from Parker Skaats, CPA, an experienced government worker who’s here to pitch the joys of government work to the unwashed overworked masses. Enter the world of government auditing.

Government 124

Government audit CPA auditor 124

CPA Practice

OCTOBER 8, 2024

According to a new report from top six accounting firm BDO USA, company finance leaders are expecting technology like artificial intelligence to be used by their external auditors now to enhance their audit engagement and consider it the second-most important factor when choosing an audit firm.

audit 143

audit Finance auditor Technology 143

CPA Practice

SEPTEMBER 19, 2023

A proposal issued by the Public Company Accounting Oversight Board (PCAOB) on Tuesday would hold auditors and others more accountable when they negligently, directly, and substantially cause their firm to violate auditing standards.

auditor 115

auditor audit accounting firms public accounting 115

Going Concern

JANUARY 3, 2025

The new platform of roughly 12,000 professionals will include a united Trans-Atlantic advisory and tax practice, as well as independent audit practices. But in recent months, local governments have been waiting longer and paying more for required financial statements. We dont know, Matthew Dunlap, Maines state auditor, said.

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auditor audit Rhode Island cpa firm 98

ThomsonReuters

MARCH 17, 2025

Blog home With regulatory bodies intensifying their focus on audit quality , todays audit professionals face a growing level of scrutiny around their work. To adapt to an industry in flux, audit professionals must harness modern solutions that offer robust documentation frameworks, advanced technology, and proven audit methodology.

audit 52

audit auditor Technology financial statements 52

CPA Practice

NOVEMBER 11, 2024

In the coming months, my K2 organization and this column will continue to cover useful AI tools for Client Accounting Services (CAS), tax, and audit. Trullion : Data extraction, validation, and reconciliation; can pre-read an audit; manages lease accounting and revenue recognition. Trullion could be a replacement for DataSnipper.

accounting firms 111

accounting firms Technology Account accountant 111

CPA Practice

JULY 11, 2024

a provider of assured integrated reporting, has added the Global Internal Audit Standards to the Workiva platform, making it the first SaaS company to incorporate the newest standards into its suite of GRC (governance, risk, and compliance) solutions. Workiva Inc.,

audit 111

audit auditor Washington Government 111

CTP

JANUARY 15, 2025

Just the mention of the word audit can strike fear into a taxpayers heartbut with enough preparation, an audit does not have to be a reason for anxiety. Each year, a number of audits are randomly chosen by the IRS, so the possibility of being audited is unavoidable even if your tax return has been filled out perfectly.

audit 52

audit auditor Legal tax return 52

CPA Practice

AUGUST 12, 2024

Forming an environmental, social, and governance (ESG) strategy can be a resource intensive task given all the areas that it could impact. Luckily, companies with internal audit resources already have in place a valuable contributor to ensuring ESG success. By David Plajstek, Principal, UHY.

audit 119

audit auditor Government 119

Going Concern

JUNE 9, 2022

Those employers with a history of mismanaging their human capital , like the largest audit firms, are being hit the hardest. To stem the exodus of audit professionals , a udit firms are paying higher salaries to attract and retain the same level of relatively inexperienced professionals. Of course, this means audit fees are going up.

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audit auditor public accounting cpas 124

TaxConnex

JANUARY 18, 2022

If you can’t produce a valid resale certificate for a transaction with a buyer/customer, an auditor is likely to assume the transaction was taxable. In many situations, but not all, schools, government offices, churches, etc… are exempt from sales tax on specific purchases.

auditor 246

auditor Manufacturing Sales Tax 246

Going Concern

MARCH 8, 2023

Babcock conducts most of its business with the government, particularly the Ministry of Defence (don’t @ us, that’s how they spell it across the pond). For example, there was no evidence that the audit team had, whether in FY2018 or before, obtained and read a 30-year Public Private Partnership contract with FY2018 revenue of c.£77m

audit 105

audit Government auditor financial statements 105

Cherry Bekaert

MAY 9, 2024

For many architecture and engineering (A&E) firms, overhead rate audits are a critical aspect of financial management since they can be a great way for firms to recoup incurred costs necessary to run their business from the government. Q: What is an overhead rate audit? Q: What are the benefits of an overhead rate audit?

audit 115

audit auditor Transportation Government 115

CPA Practice

SEPTEMBER 5, 2024

Keeping up with sales tax changes can be difficult and, even if you’re careful, your business can be selected for a state audit. Just the thought of being selected for a sales tax audit can be intimidating.

audit 115

audit Sales Tax auditor 115

Going Concern

JANUARY 8, 2024

Hey remember the Bloomberg story last March about how staff shortages at audit firms were causing municipal credit ratings to tank ? Said the Sheridan Press today : The city of Sheridan and Sheridan County’s FY2023 audits will come in after the state-mandated deadline. The late audit was due on the 31st of December.

Wyoming 126

Wyoming audit Government Montana 126

CPA Practice

AUGUST 26, 2024

Forvis Mazars, LLP, ranked among the largest public accounting and consulting firms in the United States, is expanding its Public Sector Advisory Services practice by launching a new line of Government Outsourced Accounting Services (GOAS) for clients. Leading the new service line is Karen Kurtin. Leading the new service line is Karen Kurtin.

Government 110

Government accounting and finance Account accountant 110

Going Concern

FEBRUARY 3, 2023

We are here to talk about how Hindenburg sniffed out Adani’s audit firm and what it found. From the report: The independent auditor for Adani Enterprises and Adani Total Gas is a tiny firm called Shah Dhandharia. The only other listed entity we found that it audits has a market capitalization of about INR 640 million (U.S.

audit 124

audit auditor accounting firms Government 124

Cherry Bekaert

SEPTEMBER 26, 2023

However, the Defense Contract Audit Agency (DCAA) does have some specific requirements they look for when performing accounting system audits and labor floor checks. View all Government Contracting Podcasts Questions? View all Government Contracting Podcasts Questions?

Government 105

Government auditor audit accounting system 105

CPA Practice

NOVEMBER 19, 2024

By Jeff Gramlich, CPA, CITP In today’s audit landscape, we’re witnessing the early stages of an AI revolution. Before AI can transform audit, we need to solve the fundamental challenge of making financial data flow freely and consistently across systems. Create audit trails that make decision-making transparent and accountable.

auditor 52

auditor audit Technology CPA 52

Going Concern

FEBRUARY 15, 2023

The independent auditor for Adani Enterprises and Adani Total Gas is a tiny firm called Shah Dhandharia. The only other listed entity we found that it audits has a market capitalization of about INR 640 million (U.S. Shah Dhandharia hardly seems capable of complex audit work. Shah Dhandharia seems to have no current website.

audit 116

audit auditor accounting firms Government 116

SMBAccountant

JULY 14, 2020

If you are submitting proposals for a government contract, the government prefers the accrual basis of accounting because it gives a more accurate picture of the company’s profit or loss. The issue is that auditors don’t arrive only after the fiscal year has been closed.

Government 130

Government accrual accounting quickbooks Account 130

Going Concern

JULY 19, 2023

Hong Kong is suffering from “a serious talent shortage” according to an article today in South China Morning Post and The Hong Kong Association of Registered Public Interest Entity Auditors (PIEAA) says accounting firms should start looking overseas. And now for the offshore part.

auditor 98

auditor Account accountant accounted 98

MyIRSRelief

OCTOBER 28, 2022

The most frustrating method is the audit and if you receive an exam notice in the mail, you better take it seriously. This should include your right for CA FTB Audit representation. Our tax representation firm can help you get the best possible outcome from your audit. Reasons why you should have FTB Audit Representation.

California 130

California audit Tax income tax 130

CPA Practice

AUGUST 22, 2023

The Institute of Internal Auditors (IIA) – the internal audit profession’s leader in standards, certifications, education, research, and technical guidance worldwide – has approved Malta and Somalia as new affiliates to its global federation, further extending The IIA’s extensive international reach.

auditor 98

auditor audit Education CPA 98

CPA Practice

APRIL 29, 2024

The recruitment and hiring landscape for internal audit must evolve to ensure the profession keeps pace with a changing risk environment. According to the report, hiring managers tend to seek recent college graduates who have studied accounting (80%), followed by those from auditing (53%) and business (44%).

audit 111

audit Education auditor Technology 111

Going Concern

FEBRUARY 24, 2023

Some time last year PCAOB inspectors visited China and while details of their visit were kept somewhat quiet from both sides, we were told that the inspectors gained unprecedented access to Chinese audit work.

audit 105

audit auditor accounting and finance Washington 105

ThomsonReuters

SEPTEMBER 26, 2023

Jump to: Firms and clients are embracing remote auditing Remote auditing poses challenges, but there are solutions Leveraging technology is key to remote audit success Firms that have been introducing and experimenting with remote audits are finding it easier to embrace and collaborate with clients through cloud audit tools.

audit 98

audit auditor Technology Education 98

Going Concern

MARCH 17, 2025

EY issued an internal control warning on a client : UBS’s auditors have expressed an “adverse opinion” on the bank’s internal controls over its financial reporting for 2024 after it failed to resolve issues related to misstatements inherited from Credit Suisse, the Swiss lender said on Monday.

Oklahoma 71

Oklahoma Account accounted accountant 71

CPA Practice

OCTOBER 8, 2024

The 12th Annual Global Technology Audit Risks Survey by Protiviti and The Institute of Internal Auditors (IIA) highlights how AI is reshaping the perception of existing risks, with 59% of IT audit leaders identifying AI as a significant threat over the next two to three years.

audit 136

audit auditor Government Finance 136

Going Concern

MARCH 24, 2023

The federal government levies taxes on collectibles held for more than a year at a top rate of 28%. Auditors have done so too. Adler, ditched by its auditor KPMG last year after the Big Four firm issued a disclaimer opinion for the 2021 results, has so far been unsuccessful in its search for a replacement.

auditor 105

auditor Entertainment audit Real Estate 105

Cherry Bekaert

OCTOBER 17, 2023

Ultimately, the Federal government wants a reliable basis for cost comparison and decision making. View all Government Contracting Podcasts Questions? Contact Us The post Cost Accounting Standards (CAS): A Comprehensive Overview for Government Contractors appeared first on Cherry Bekaert. Contact us to discuss your situation.

accounting standards 105

accounting standards cost accounting Government Account 105

SMBAccountant

AUGUST 26, 2020

When a small business enters the world of government contracting, the risk associated with maintaining supporting documentation increases significantly. In addition, government contracts will not reimburse alcohol, so the itemized receipt is needed to show what was bought and alcohol must be recorded separately.

Government 100

Government Account accountant accounted 100

SMBAccountant

AUGUST 26, 2020

When a small business enters the world of government contracting, the risk associated with maintaining supporting documentation increases significantly. In addition, government contracts will not reimburse alcohol, so the itemized receipt is needed to show what was bought and alcohol must be recorded separately.

Government 100

Government Account accountant accounted 100

Going Concern

NOVEMBER 1, 2024

Audit Private Equity’s Ties to Companies’ Auditors Have Never Been Closer. The supplement provides audit firms with additional guidance regarding remediation, including making the most of the remediation period, the potential influence of non-technical factors on persistent quality control criticisms, and more.

audit 52

audit Florida auditor accounting firms 52