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Preparing for Your First Financial Audit: A Checklist for Startups

Shay CPA

Enter: a financial audit. This tool gives you a way to validate that your company is following proper accounting practices and that your books are accurate. Thats not to say that audits arent burdensome. Thats not to say that audits arent burdensome. And this isnt just an audit-specific to-do.

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Financial Accounting Foundation Seeks Nominations for the Financial Accounting Standards Advisory Council

CPA Practice

The Board of Trustees of the Financial Accounting Foundation ( FAF ) is seeking nominations for new members to join the Financial Accounting Standards Advisory Council ( FASAC ) for an initial one-year term beginning January 1, 2025. Corporate governance community.

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Friday Footnotes: PwC Completes Its Punishment; Hybrid Work Should Stay in 2025; Deloitte Clutters Up the Dark Web | 1.3.25

Going Concern

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. Audit firms face a unique set of challenges.

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Grant Thornton Appoints New Leaders to Audit Quality & Risk Leadership Team

CPA Practice

Grant Thornton LLP, one of America’s largest audit, tax and advisory firms, has appointed two new leaders to the firm’s Audit Quality & Risk practice. Decker assumes her new role from Mary Ropes, an Audit partner at Grant Thornton, who retires after more than 35 years of service at the firm. Thank you for your leadership.”

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What TF Is Going on With CPA Exam Pass Rates?

Going Concern

Audit Q4 results also raise concerns. I question this table though since CPA exam sections in 2003 were Auditing (AUDIT), Business Law and Professional Responsibilities (LPR), Financial Accounting and Reporting-Business Enterprises (FARE), and Accounting and Reporting-Other Areas (ARE).

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Common Accounting Mistakes: Government Edition - Issue #11 What is GAAP?

SMBAccountant

GAAP are a set of accounting principles established by the Financial Accounting Standards Board (FASB) to provide clarity, consistency, and comparability of financial reporting and information. All publicly traded companies are required to follow GAAP.

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Financial Accounting Foundation Appoints Hillary H. Salo Vice Chair of the Financial Accounting Standards Board

CPA Practice

The Board of Trustees of the Financial Accounting Foundation (FAF) today announced that Hillary H. Salo, whose five-year term on the Financial Accounting Standards Board (FASB) begins July 1, 2024, will serve as the board’s vice chair upon the start of her term.