TaxConnex

APRIL 28, 2022

In years past, auditors could show up at your door asking to look at your records. Usually, you learn about an audit through a notice or letter from the state or jurisdiction in question with instructions on how the audit will proceed. Many audits are conducted remotely, and an auditor never visits your office.

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audit auditor general ledger Minnesota 179

TaxConnex

NOVEMBER 29, 2022

that the likelihood of your business being audited is low, but that likelihood has been increasing in recent years. more than one in four (26.7%) top finance professionals reported seeing an increase in state sales tax audits in the past two years. You received a sales tax audit notice from a jurisdiction. Data shows?that

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audit auditor general ledger Non-Profits 188

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.,

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audit auditor Washington Government 111

CPA Practice

SEPTEMBER 17, 2024

Accounting automation platform Trullion announced its Audit Suite, a cloud-based solution designed for auditors to leverage artificial intelligence to enhance accuracy and reduce human error in audits. Our Audit Suite is designed to meet these demands and put audit teams in the driver’s seat so they can see results fast.”

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audit auditor accounts payable financial statements 102

MyIRSRelief

JUNE 28, 2024

Tax audits can be a daunting experience for any taxpayer. The California Franchise Tax Board (FTB) conducts audits to ensure compliance with state tax laws and to verify the accuracy of tax returns. Understanding the audit process and knowing your rights can significantly ease the stress associated with an audit.

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audit California Tax tax return 130

Going Concern

NOVEMBER 1, 2022

Last week the Australian Securities and Investments Commission (think Aussie PCAOB) informed us that Deloitte and KPMG need to take “continued deliberate and concerted action” to improve the quality of their audit work because apparently it is just that bad. In short, things are not looking so hot for upside down auditors.

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auditor audit Start-ups Technology 111

MyIRSRelief

JANUARY 7, 2024

Tax audits can be a daunting experience for any taxpayer, and when it comes to the Employment Development Department (EDD) audits, the stakes can be particularly high. An EDD tax audit focuses on ensuring that businesses comply with CA state payroll tax laws, which can be complex and multifaceted.

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audit payroll tax Tax auditor 130

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.

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audit Sales Tax auditor 115

Cherry Bekaert

MAY 26, 2023

As organizations continue to rely on technology to achieve their business objectives, information technology (IT) risks continue to evolve, becoming increasingly complex and challenging to many organizations. IT auditors must ensure that organizations have appropriate controls in place to mitigate these risks.

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Technology audit auditor Legal 92

TaxConnex

APRIL 4, 2023

You just got notice of a sales tax audit. Wherever you are in your sales tax compliance, these steps will help your audit process run smoother. Many happenings can ignite an audit. An audit of one of your suppliers could turn up one of your exemption certificates for something the auditor may think is taxable.

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audit Sales auditor Tax 130

CPA Practice

AUGUST 12, 2024

Luckily, companies with internal audit resources already have in place a valuable contributor to ensuring ESG success. Our ESG Solutions Practice recently spoke on the role of internal audit in ESG strategy. These were the key roles and use cases for internal audit resources in an ESG strategy.

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audit auditor Government 119

Accounting Today

OCTOBER 23, 2024

Companies often face the tricky task of producing privileged and confidential information to their independent auditors for audit purposes.

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auditor audit 72

ThomsonReuters

SEPTEMBER 3, 2024

The audit industry stands out with its recognition of GenAI’s potential to revolutionize tasks such as predictive analytics, flagging potential areas of concern, data collection, and more. This growing consensus highlights the perceived relevance of GenAI in modernizing audit practices.

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auditor audit tax accountant Tax 72

Going Concern

DECEMBER 21, 2023

Assuming no one but select audit partners actually read this crap, let’s take a look at how auditors should expect increased vigilance in 2024 so everyone can be better informed and stock up on KY. These include prior inspection results and the emerging risks pertaining to a particular audit firm or industry.

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CPA Practice

NOVEMBER 15, 2024

AuditBoard , a cloud-based platform transforming audit, risk, compliance, and ESG management, has announced the results of a new research report, 2025 Focus on the Future: Inflection Point for Transformation at Mid-Decade. Conversely, fraud was a lower-ranked risk at #10 but ranked high at #3 in terms of planned audit efforts.

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audit auditor Government 52

TaxConnex

DECEMBER 23, 2021

If you and your company haven’t been hit with a sales tax audit yet, congrats. In TaxConnex’s recent market survey more than one in four (26.7%) top finance professionals in a variety of industries report seeing an increase in state sales tax audits in the past two years. Sales Tax Audit Triggers. Sales Tax Audit Triggers.

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audit Sales Tax auditor 171

Accounting Insight

SEPTEMBER 2, 2024

As businesses navigate an increasingly globalized economy, the concept of offshoring has gained traction across various sectors, including auditing. However, despite its growing adoption, offshore auditing is often surrounded by misconceptions that can create hesitation among professionals.

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MyIRSRelief

MAY 15, 2023

If you receive a notice of an IRS or state FTB-CDTFA-EDD tax audit, it’s important to understand your rights and options. Tax audits can be stressful and intimidating, but with the right representation, you can navigate the process with confidence.

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audit Tax auditor tax return 130

Airbase

JANUARY 31, 2023

Kelly Hicks and Robin Sharma share advice after Airbase successfully completes its first external audit. Few milestones in a company’s lifecycle demand a more focused response from finance and accounting than the first external audit. The lead-up: Choosing auditors and timing. When is the right time for a company’s first audit?

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audit auditor Spend Management Platform accounting and finance 130

Going Concern

NOVEMBER 1, 2023

The press release says: A number of Deloitte auditors in Ontario changed the date and time settings on their computer clocks to manually override controls in Deloitte’s audit software and backdate audit working paper signoffs between November 2016 and May 2018.

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auditor audit CPA accounted 138

Withum

MAY 9, 2024

In two weeks, I will be teaching a graduate course on audit concepts and methods to accounting students at Fairleigh Dickinson University. However, my role is not just to teach the material but to excite them about accounting as a profession and auditing in particular and share my pride in the vital role auditors play in our ecosystem.

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TaxConnex

JULY 20, 2023

Under audit, an otherwise exempt sale will be deemed taxable without such documentation from a customer – and just a few missing certificates can result in large penalties and interest. In this blog based on one of our recent webinars, here are how states and other tax jurisdictions are getting tougher with their exemption certificate audits.

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audit Sales Tax auditor 130

TaxConnex

MAY 18, 2021

sales tax audits ?were sales tax audits to become more common over the next two years. of respondents said they believe audit levels?will already seen an increase in the number of audits in the past two years. ramping up audits remains?anecdotal,?but How does a business get selected for an audit? anecdotal,?but

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audit auditor Missouri Sales 209

CPA Practice

FEBRUARY 23, 2024

Amid technological advancements, the audit professional’s role, characterized by a deep attention to detail, compliance and risk management, is proving to be vital well outside the traditional confines of finance. Auditors’ proficiency in validating data ensures the reliability and accuracy of financial information.

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audit auditor accounting and finance Technology 114

CPA Practice

MARCH 4, 2024

Auditors, like so many others today, are seizing the opportunity to transform how they work by adopting artificial intelligence. These findings make it critical for those of us in the audit profession to help the next generation understand the vision and opportunities that await those who choose this career path as auditors embrace AI.

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auditor audit general ledger Technology 69

Going Concern

MARCH 15, 2023

While the general investing public is asking “where were the auditors?” To any members of the general investing public reading this: “due professional care” means the independent auditor planned and performed the work required of them according to audit standards. Back to the auditors.

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CPA Practice

MAY 2, 2023

There is a brand-new section that debuted today in PCAOB inspection reports of audit firms, and it is devoted to auditor independence. “We These enhancements will provide relevant information that investors have asked for and support improvements in overall audit quality.”

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audit auditor financial statements 111

Going Concern

NOVEMBER 16, 2023

The Financial Education & Research Foundation (FERF) has released the findings of its 14th Annual Public Company Audit Fee Study , sponsored by Center for Audit Quality. The report is based on responses from 54 financial executives at public companies and an additional survey of 116 audit engagement partners.

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audit auditor accounting and finance Education 119

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.

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audit auditor Technology Education 98

SMBAccountant

AUGUST 4, 2023

Internal audits play a crucial role in the success and sustainability of a company. Conducting regular internal audits helps identify potential risks, improve operational efficiency, and ensure compliance with laws and regulations. Internal audits can be small random audits, or audits of the system as a whole.

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audit auditor Account accountant 130

MineralTree

NOVEMBER 2, 2023

That’s where accounts payable audits come into play. What Is an Accounts Payable Audit? An accounts payable audit is the process of validating invoices to ensure they are accurate and that the right controls are in place to guarantee an organization’s financial records are in order. Audits uncover and rectify these inaccuracies.

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accounts payable audit AP Automation auditor 81

CPA Practice

JUNE 25, 2024

auditing reporting requirements. When registered firms fail to comply with reporting requirements, it deprives investors of important information about those firms,” PCAOB Chair Erica Williams said in a statement.

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audit chartered accountant auditor CPA 111

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?

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audit auditor Transportation Government 115

Going Concern

APRIL 22, 2024

Industry OG and commentator Gene Marks has written an opinion piece for The Hill about what audits actually are that is less opinion and more brutal fact: Why you should be very skeptical of that auditor’s report. Most of the time, auditors can confidently (and legally) shrug their shoulders and say “not my job.”

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audit auditor financial statements Education 119

inDinero Accounting

AUGUST 19, 2024

As a small business owner, few phrases strike fear quite like “IRS audit.” ” While the chances of getting audited by the IRS are relatively low, understanding audit risk factors and implementing preventive measures can provide peace of mind and financial security. How Often Do Small Businesses Get Audited?

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audit tax return Tax accounting and finance 85

Going Concern

OCTOBER 19, 2022

The PCAOB has made it painfully clear that they are done pussyfooting around and sick of auditors not doing their jobs. Chair Erica Williams said in September the Board plans to use every tool at their disposal to bring the hammer down on naughty auditors and it seems that’s exactly what they’re doing.

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audit auditor Gaming 111

CPA Practice

JULY 29, 2024

Top 20 accounting firm Armanino has integrated generative AI capabilities into its SOC 2 assessment tool, Audit Ally , streamlining client communication and task completion. Audit Ally puts client privacy and data security at the forefront as well, ensuring compliance with data privacy regulations, Armanino said.

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