Frequently Asked Questions About Critical Audit Matters (CAMs)
In July, the Public Company Accounting Oversight Board (PCAOB) published two guides to help clarify a new rule that requires auditors of public companies to disclose CAMs in their audit
In July, the Public Company Accounting Oversight Board (PCAOB) published two guides to help clarify a new rule that requires auditors of public companies to disclose CAMs in their audit
The Securities and Exchange Commission (SEC) does not monitor just publicly traded companies. It also looks at the dealings of some private companies, often to the surprise of their owners
Every year, research firm Audit Analytics publishes a study about financial restatement trends. In 2018, the number of public companies that amended their annual reports increased by 18 percent. Many
Failure to collect accounts receivable (AR) in a timely manner can lead to a myriad of financial problems for your company, including poor cash flow and the inability to pay
The Securities and Exchange Commission requires certain public companies to publish quarterly financial statements to give investors insight into midyear performance. Though interim reporting generally is not required for private
Your CPA offers a wide variety of services. An audit is a familiar type of attestation service that provides a formal opinion about whether the company’s financial statements conform to
Every financial transaction your company records generates nonfinancial data that does not have a dollar value assigned to it. Though auditors may spend most of their time analyzing financial records,
In today’s global economy, multinational corporations engage in numerous cross-border transactions. But how they report those transactions is often vague. To help reduce stakeholders’ exposure to potential hidden risks, the
CPAs typically report historical financial performance, but sometimes they are hired to predict how a company will perform in the future. Prospective reporting options There are three types of reports
The standard for valuing certain assets and liabilities under U.S. Generally Accepted Accounting Principles is ‘fair value.’ This differs from other valuation standards that may apply when valuing a security