Category: Assurance
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Surprise audits are proven to fight fraud
Does your organization conduct surprise audits? A recent study found that companies without this antifraud control in place are at significantly higher risk for occupational theft and financial misstatement.
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New survey reveals top audit committee concerns
Our audit team understands the challenges audit committees face today. Here are five top concerns identified in a recent study.
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Auditing WIP today
Are your accounting estimates for work in progress (WIP) inventory reasonable? To find out, your auditors will carefully analyze your methods of allocating costs and recognizing revenue.
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Spotlight on auditor independence
External auditors are supposed to be public watchdogs who are “independent” of their audit clients, both in appearance and in fact. Here’s why independence and ethics are at the forefront of stakeholder concerns today.
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Cash vs. accrual accounting: What’s the difference?
Is your business using the optimal method of accounting? What’s right depends on your company’s size, level of sophistication and other key factors.
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Liquidity overload: Why having too much cash may be bad for business
Businesses often stockpile cash during times of uncertainty. But this could be an inefficient, and costly, use of capital.
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Inventory management systems: What’s right for your business?
Carrying too much inventory can be costly. Here are two alternative inventory management systems that could reduce your business’s inventory carrying costs and boost profits.
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Best practices for M&A due diligence
Are you contemplating a merger or acquisition in 2024? Comprehensive financial due diligence is the cornerstone of a successful deal.
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Auditing concepts: Close-up on materiality
What’s materiality? This is an important accounting concept to review before audit fieldwork starts for your 2023 year-end financials.
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6 tips to improve job-costing systems
Is your company’s job-costing system accurate and user friendly? Tracking costs can help identify which projects and customers are the most (and least) profitable.
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What is your external auditor’s responsibility for cybersecurity?
What’s the average cost of a data breach? As average losses continue to rise, it’s important for companies to understand the scope of auditors’ responsibilities related to cybersecurity.
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FASB issues new segment expense disclosure rules
Starting in 2024, public companies must comply with new accounting rules requiring them to disclose more details about their business unit costs. This is the most significant change to segment expense reporting in 25 years.