What To Do When The Audit Ends
Financial audits conducted by outside experts are among the most effective tools for revealing risks in non-profits. They help assure donors and other stakeholders about your stability — so long
Financial audits conducted by outside experts are among the most effective tools for revealing risks in non-profits. They help assure donors and other stakeholders about your stability — so long
Many companies are struggling as a result of shutdowns and restructurings during the COVID-19 crisis. To add insult to injury, some also have fallen victim to arson, looting, or natural
Today, many banks are working with struggling borrowers on loan modifications. Recent guidance from the Financial Accounting Standards Board (FASB) confirms that short-term modifications due to the COVID-19 pandemic will
The COVID-19 crisis is causing private companies to re-evaluate the type of financial statements they should generate for 2020. Some are considering downgrading to a lower level of assurance to
Marketplace changes during the COVID-19 crisis have caused many companies to make major strategic shifts in their operations — and some changes are expected to be permanent. In certain cases,
During the COVID-19 crisis, you cannot afford to lose sight of other on-going risk factors, such as cyberthreats, fraud, emerging competition, and natural disasters. A ‘stress test’ can help reveal
Increasing diversity is a key initiative at many companies in 2020. This movement goes beyond social responsibility — it can lead to better-informed decision-making, improved productivity, and enhanced value. Congress
Starting in 2019, auditors’ reports for certain public companies must contain a new element: critical audit matters (CAMs). The requirement was in effect for audits of large accelerated filers (with
There is a bright side to today’s unprecedented market conditions: Agile people may discover opportunities to start new business ventures. Start-ups need a comprehensive business plan, including detailed financial forecasts,
Your non-profit organization may be required to hire an independent outside CPA to audit its books, depending on its annual gross receipts and other factors. Even when external audits are