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. Contact Us The post Top Information Technology Audit Risk Considerations in 2023 appeared first on Cherry Bekaert.

Technology 92

Technology audit auditor Legal 92

Shay CPA

NOVEMBER 6, 2024

Today, we’re focusing on investor information rights. Information rights and when to grant them Remember that investing in your company doesn’t automatically entitle the investor to anything. In most cases, if the investment is large enough, the investor will expect information rights. But that’s not the only area to be wary.

CPA 52

CPA financial statements audit accounted 52

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

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. Graph courtesy of BDO USA.

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audit Finance auditor Technology 143

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

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

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.

auditor 72

auditor audit financial statements accounted 72

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., from July 15-17, 2024.

audit 111

audit auditor Washington Government 111

Airbase

MAY 15, 2023

At the same time, because compliance, audit, and security requirements can become more stringent, more information is required to ensure requests to spend company money are compliant. Someone from the legal team needs to collect additional information so that they can conduct a legal review for requests over a certain dollar amount.

Approval Workflows 130

Approval Workflows Legal audit accounts payable 130

TaxConnex

APRIL 28, 2022

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. Fear and perception of audits are as tangible as the real examinations. Fear and loathing.

audit 179

audit auditor general ledger Minnesota 179

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

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?

audit 85

audit tax return Tax accounting and finance 85

MyIRSRelief

AUGUST 2, 2024

This dichotomy creates a complex tax landscape for cannabis businesses, particularly concerning compliance, audits, and the infamous Section 280E of the Internal Revenue Code (IRC). Navigating Audit s IRS Audits The IRS has made it clear that cannabis businesses are a priority for audits.

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audit Tax Nevada Colorado 130

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

audit 188

audit auditor general ledger Non-Profits 188

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

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

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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audit auditor international accounting standards accounting standards 64

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

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.

audit 119

audit auditor Government 119

Going Concern

MAY 7, 2024

“In other words, the reported deficiencies had to be so serious that, in our view, the audit firm could not provide reasonable assurance that the financial statements were free from material misstatement due to error or fraud,” explained former board member J. .” And you thought NOCLAR was controversial.

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audit financial statements accounted Account 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.

audit 119

audit auditor accounting and finance Education 119

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.

audit 111

audit chartered accountant auditor CPA 111

Withum

NOVEMBER 12, 2024

Understanding when audited financial statements of a retirement plan are required to be attached to a Form 5500 is an important part of demonstrating fiduciary responsibility over the plan and preventing unnecessary fines for an invalid filing of the 5500.

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audit financial statements accounted Account 52

Withum

JANUARY 4, 2024

Withum and Kostelanetz LLP collaborate to break down ERC tax audits. The IRS audit process can be time consuming and expensive, and the complexity of the ERC makes these audits particularly vexing to taxpayers. Let’s Chat The post Navigating ERC Tax Audits and Investigations appeared first on Withum.

audit 110

audit Tax 110

Accounting Today

SEPTEMBER 18, 2023

The service said Monday it plans to lower its audit rate of low-income taxpayers, even as some criticize its ability to protect taxpayer information.

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audit Tax 137

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.

audit 52

audit auditor Government 52

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

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

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

audit 209

audit auditor Missouri Sales 209

CPA Practice

NOVEMBER 4, 2024

Withum , a nationally ranked advisory and public accounting firm, has announced the implementation of its integrated cloud-based digital audit platform, marking a significant milestone in its innovation offerings. The result is deeper client insights at an earlier stage in the audit lifecycle.”

audit 52

audit Technology financial statements public accounting 52

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

SEPTEMBER 22, 2023

Taylor, Kiplinger Consumer News Service (TNS) IRS audits raise anxiety for many taxpayers. But beyond the EITC, there have been concerns over the years whether the IRS focuses enough on higher earners and has the resources to effectively audit complex partnerships and large corporations. Now, in a Sept. Now, in a Sept.

audit 119

audit income tax tax return Tax 119

CPA Practice

SEPTEMBER 25, 2024

auditing rules and standards related to communications that firms are required to make to audit committees. In addition, the audit regulator sanctioned an additional U.S.-based based audit firm on Tuesday for violating rules related to required reporting to the PCAOB. two in Canada, and one in Switzerland—on Sept.

audit 69

audit accounting firms financial statements tax services 69

Going Concern

OCTOBER 19, 2022

Yesterday, the PCAOB announced a settlement in which audit partner Jonathan B. Taylor added or modified approximately 80 audit work papers before providing the improperly altered documentation to PCAOB inspectors for a 2021 inspection. Wanna alter work papers and then double down when you’re caught?

audit 111

audit auditor Gaming 111

CPA Practice

AUGUST 3, 2023

The IRS is not adhering to its own internal guidelines when sending large volumes of sensitive taxpayer information to and from its tax processing centers, according to a new report from the Treasury Inspector General for Tax Administration, the watchdog entity that oversees the nation’s tax agency.

Tax 98

Tax audit income tax 98

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. When is the right time for a company’s first audit? The lead-up: Choosing auditors and timing.

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audit auditor Spend Management Platform accounting and finance 130