The Importance of Revenue in an Audit

Though balance sheet accounts are the customary focus of auditors, revenue is a key income statement account. And it may steal the spotlight in the coming audit season. Contact us to help ensure your company

Conducting Risk Assessments

Your auditor conducts an updated risk assessment every year when preparing financial statements. Learn how CPAs factor risk assessments into their audit procedures. 3-Prong Assessment Audit risk is a combination of three components: Control risk.

Financial Reporting Issues With Audit Opinions

Lenders and investors look to your company’s audit opinion letter for insight. They know which types of audit opinions tend to foreshadow financial reporting and going-concern issues. Do you? The Basics To find out what

Audit Procedures with Related-Party Transactions

Ultimately, people typically prefer to do business with people they know, like and trust. But related-party transactions can provide opportunities for individuals to act in a way that creates confusion between the concerns of the

5 Steps To Prepare For The New Lease Accounting Standard

There is a new standard that drastically changes the accounting for lease contracts that primarily affects lessees. On February 25, 2016 the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2016-02, Leases. This

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