The Public Company Accounting Oversight Board (PCAOB) recently voted to finalize two related standards aimed at improving audits of accounting estimates and the work of specialists. Though…Read More
Archive for the ‘Audit’ Category
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Transparency is key with related party transactions
In recent years, external auditors have focused more attention on related party transactions. Although related party transactions aren’t necessarily bad, they do raise some concerns about the…Read More
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ESG issues: To report or not to report?
Securities and Exchange Commission (SEC) Chairman Jay Clayton recently said that public companies shouldn’t be required to disclose information concerning environmental, social and governance (ESG) matters in…Read More
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How to report stock compensation paid to nonemployees
The accounting rules for reporting stock compensation have been expanded. They now include share-based payments to nonemployees for providing goods and services, under recent guidance issued by…Read More
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Audits hone in on cybersecurity
In 2018, U.S. organizations that suffered a data breach lost an average of $7.91 million as a result. That’s the highest average organizational cost of all the…Read More
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Auditing cashless transactions
Like most businesses, you’ve probably experienced a significant increase in the number of customers who prefer to make cashless payments. And you may be wondering: How does…Read More
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Public companies to disclose stock hedging policies and practices
Does your company have policies in place regarding the use of hedging transactions by company insiders? Final Securities and Exchange Commission (SEC) guidance will soon require public…Read More
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Private companies: Have you implemented the new revenue recognition standard?
Private companies that follow U.S. Generally Accepted Accounting Principles (GAAP) must comply with the landmark new revenue recognition standard in 2019. Many private company CFOs and controllers…Read More
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Evaluating your audit committee
Under the Sarbanes-Oxley Act, the audit committee — not management or the full board of directors — is directly responsible for appointing, compensating and overseeing external auditors….Read More
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4 ideas for fostering a partnership between internal and external auditors
External audits aren’t required for every business. But whether required or not, they can provide lenders and investors with assurance that your financial statements are free from…Read More