Benefits of Using a Lease Management Software Tool to Implement ASC 842
As the time frame for implementing the new lease accounting standard, ASC 842, is only a few short months away, it may be beneficial to look at some of the advantages of using a lease management software tool rather than relying on more conventional methods. Compliance with the new standard is the most important factor […]
Time to Increase Your Internal Audit Awareness
May is Internal Audit Awareness Month. While your business may not be required to undergo regular audits, you should consider the benefits of conducting one. An internal audit can reassure stakeholders that you take seriously your fiduciary responsibility. Audits can also help you identify risks before they become intractable problems. Here’s how to initiate and […]
New Audit Standards for Entities with Fiscal Years Ending after December 15, 2021
After a one-year delay in implementation due to COVID-19, auditors will be required to implement a new suite of audit standards intended to provide more transparency into the basis of the audit opinion and more closely align the reporting requirements of U.S. generally accepted auditing standards with those of the PCAOB and International Auditing and […]
Single audits expected to increase due to CARES Act
As a result of the Covid-19 pandemic, the U.S. government has implemented a number of measures to provide economic support to businesses. Perhaps the most impactful has been the Coronavirus Aid, Relief, and Economic Security (CARES) Act, which provided $2.2 trillion of funding for individuals, Paycheck Protection Program (PPP) loans, unemployment benefits and direct aid […]
Nonprofits – Here’s why internal audits still matter
Fraud doesn’t simply take a vacation during crises, such as the COVID-19 pandemic. If your not-for-profit’s internal controls aren’t effective, crooked individuals can find ways to exploit them and steal from your organization — even if they’re working remotely. Other threats, such as financial shortfalls, might also loom. So it’s important to continue to schedule […]
What to do when the audit ends
Financial audits conducted by outside experts are among the most effective tools for revealing risks in nonprofits. They help assure donors and other stakeholders about your stability — so long as you respond to the results appropriately. In fact, failing to act on issues identified in an audit could threaten your organization’s long-term viability. Working […]
Cincinnati – New Lease Accounting and Revenue Recognition Standards
Time is running out to comply with the new lease accounting and revenue recognition standards. Many companies have underestimated the significance of the changes and the amount of effort required to implement the new guidance. Has your business fully assessed the potential impact these new guidelines could have on your organization and your financial statements? […]
Cleveland – New Lease Accounting and Revenue Recognition Standards
Time is running out to comply with the new lease accounting and revenue recognition standards. Many companies have underestimated the significance of the changes and the amount of effort required to implement the new guidance. Has your business fully assessed the potential impact these new guidelines could have on your organization and your financial statements? […]
Columbus – New Lease Accounting and Revenue Recognition Standards
Time is running out to comply with the new lease accounting and revenue recognition standards. Many companies have underestimated the significance of the changes and the amount of effort required to implement the new guidance. Has your business fully assessed the potential impact these new guidelines could have on your organization and your financial statements? […]
Making Internal Audit Agile
Please note CPE is available for live events only. CPE is not available for webinars on-demand. The image of auditors as compliance champions and rule defenders doesn’t seem synonymous with flexible processes. But what if you could transform formal, comprehensive methods into a fluid, adaptable approach? Successful implementation of agile internal auditing (Agile IA) allows […]