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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auditor audit accounting principles financial statements 145

CPA Practice

NOVEMBER 19, 2024

A new analysis of audit committee disclosures of companies in the S&P 1500 reveals a plateau in disclosure rates across several areas important to investors, including considerations in appointing or reappointing the external auditor, length of auditor tenure, and how the audit committee evaluates audit fees in relation to audit quality.

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audit auditor Government 111

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

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

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

CPA Practice

JULY 23, 2024

The largest audit firms in the U.S. The integration of GenAI in audits and financial reporting is in its early stages but rapidly evolving,” the PCAOB said in the report. Audit firms and preparers alike emphasized that they are continuing to explore various ways of integrating GenAI-enabled tools in auditing and financial reporting.”

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auditor audit financial statements Legal 109

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

CPA Practice

NOVEMBER 13, 2024

Wolters Kluwer, a provider of information, software, and services for professionals, has collaborated with The Institute of Internal Auditors’ Internal Audit Foundation on a research report: Harnessing Generative AI for Internal Audit Activities. The time to seize this unique opportunity is here.

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audit auditor Government 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

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

TaxConnex

JULY 27, 2021

In the absence of a valid resale certificate, an auditor is likely to assume the transaction was taxable. As a result, it’s critical for the seller to maintain copies of these resale certificates in the event of an audit. Depending on the state, additional information may also be required. Why ‘resale’? The importance.

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auditor Sales audit Tax 246

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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auditor audit financial statements 119

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

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

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

TaxConnex

JULY 9, 2024

On portals you’ll also find information on other taxes, such as Washington’s B+O tax. Audits Thankfully, you may never go through a sales tax audit. Regarding reconciliation of data to your sales tax returns, auditors don’t generally look at returns, but you still should prepare your return as accurately as possible.

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Sales Tax Colorado tax return 264

CPA Practice

NOVEMBER 13, 2024

The Public Company Accounting Oversight Board (PCAOB) introduced on Wednesday a new series of staff guidance, “Audit Focus,” that is intended to provide easy-to-digest information to auditors, especially those who audit smaller public companies, with critical audit matters (CAMs) as the first topic.

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auditor audit financial statements accounted 81

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

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

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. It’s also a good idea to request exemption certificates even in states where you don’t have nexus, as insurance against future audits.

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auditor Manufacturing Sales Tax 246

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

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

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

Going Concern

DECEMBER 10, 2022

The PCAOB should be dropping the first batch of 2021 inspection reports soon, and as an appetizer before the main course, the audit cops issued a report Dec. 8 on how the 141 annually and triennially inspected firms did overall during the most recent inspection cycle, in which portions of 690 audits were reviewed. In Part I.B

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audit auditor financial statements Maine 121

CPA Practice

NOVEMBER 11, 2024

The Public Company Accounting Oversight Board (PCAOB) revoked the registration of a Chinese audit firm on Nov. auditing rules and for failing to cooperate with an investigation into those violations. 8 for repeated violations of U.S.

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audit auditor cpa firm public accounting 111

CPA Practice

JANUARY 23, 2023

With markets changing and capital becoming more constrained by the day, there is a rapidly heightened awareness of the role that due diligence and audits play. These manual verification procedures are painstaking — and most often relegated to the audit professionals early in their career. By Tod McDonald.

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audit auditor forensic accounting Technology 124

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

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.

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audit auditor accounting firms Government 124

TaxConnex

OCTOBER 26, 2021

This will help streamline your audits when they occur. This may seem obvious, maybe even trivial – but come audit time or if you have turnover in your organization, this trick will be useful. This may seem obvious, maybe even trivial – but come audit time or if you have turnover in your organization, this trick will be useful.

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Sales Tax audit auditor 246

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

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

Accounting Today

OCTOBER 10, 2023

A majority of chief audit executives and information technology audit leaders consider cybersecurity to be a top risk over the next year, but they're less concerned about artificial intelligence.

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auditor audit Technology 134

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 accounted Account 130

SMBAccountant

DECEMBER 16, 2020

More information regarding these programs can be found at sbir.gov/about. These different methods of accounting for R&D costs can be audit hot spots for both the government contracting and IRS auditors. These programs are offered by the government to encourage innovation with the potential for commercialization.

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Government Account accounted accountant 246

SMBAccountant

JULY 14, 2020

If the information entered into QuickBooks doesn’t accurately provide all the data needed to determine the timing, the accrual reports will not be accurate. The issue is that auditors don’t arrive only after the fiscal year has been closed. This is the simplest form as your books match your bank account.

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Government accrual accounting quickbooks Account 246

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

CPA Practice

DECEMBER 6, 2024

Staff report Audit firms have room to improve when it comes to creating cultures of accountability that promote audit quality, according to a new staff Spotlight report from the Public Company Accounting Oversight Board (PCAOB). audit firms. audit firms. The report, released on Dec. The report, released on Dec.

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audit auditor Government accounted 97