When you hear the term audit, you may immediately think of a team of IRS officers rummaging through your files looking for discrepancies and errors in your business's tax returns. However, financial ...

When it is time to bring in an external audit firm — perhaps because lenders, investors or a regulatory body triggered the need to audit your financial statements — preparation and responsiveness are ...

The primary objective of an audit of the books is to validate the financial information management provides. Employees, owners and potential investors rest easier knowing that accounting professionals ...

Discover the audit cycle process, from identification to management review, and learn how it ensures accurate financial ...

IN CERTAIN INSTANCES CPAs SHOULD CONSIDER preparing and reporting on financial statements using an “other comprehensive basis of accounting” (OCBOA). Tax-basis and cash-basis, including ...

The debate about responsible financial reporting has not been sidelined by the COVID-19 pandemic. In fact, the future of audit—and how it should adapt to changing stakeholder demands—has only grown in ...

Although some may see them as a headache, audits play a very important purpose in the operation of a nonprofit. For starters, audits are designed to help ...

When you apply for business funding, lenders and investors want to ensure they won’t lose money on your venture. That’s why bringing detailed financial statements to your pitch meeting is crucial.

CPAs CAN USE DATA ON AUDIT MALPRACTICE claims filed with CNA, which underwrites 22,000 CPA firms in the AICPA professional liability insurance program, to help them avoid high-cost claims when they ...

For many, the term “Air Force” conjures up images of fighter jets and airmen in combat. But there’s a lot more that happens behind the scenes. Budgeting, funding and accounting, for example, are ...