When it comes to making informed organizational decisions, accurate financial statements are essential. So, managers and other stakeholders may express concern when an organization issues financial restatements. However, before jumping
In some situations, organizations may need to hire CPAs to perform agreed-upon procedures (AUPs) instead of (or in addition to) a review or an audit. According to the American Institute
According to “Occupational Fraud 2024: A Report to the Nations,” a study published by the Association of Certified Fraud Examiners, financial misstatement schemes are the costliest type of fraud with
According to the U.S. Chamber of Commerce, there are currently more than 33 million small businesses in the United States. To succeed in today’s competitive markets, it’s critical for your
When you hear the word “audit,” you may think of financial reporting or the IRS. However, auditing warehouse operations can be helpful for some businesses, such as manufacturers, distributors, and
Implementing effective expense reporting best practices is essential for maintaining financial health and profitability in any business. By closely monitoring employee expenditures, companies can track spending, control costs, and ensure
Many organizations struggle with the procurement process, whether they are hiring contractors, buying equipment, or paying vendors. Implementing a structured approval process for purchase orders (POs) can significantly streamline operations.
The key to an organization’s success is reliable, audited financials. Here’s why your organization should consider investing in audited financial statements. Weighing The Differences Most organizations maintain an in-house accounting
Four antifraud controls are associated with at least a 50% reduction in both fraud loss and duration, according to “Occupational Fraud 2024: A Report to the Nations” published by the
Accurate bookkeeping is critical to successfully operating a small business. The problems created by inadequate bookkeeping practices can have significant, long-lasting consequences. Here are four common bookkeeping pitfalls — and
