Accounting and Assurance

Could the Inflation Reduction Act have unintended financial reporting consequences? Many accounting professionals are concerned that the new law could compromise the perceived objectivity of U.S. accounting rulemakers.

A recent survey of audit partners found that 40% were uncertain about the outlook for their primary industries. In light of this uncertainty, many companies are re-evaluating their allowances for uncollectible receivables.

Businesses today are dealing with unprecedented levels of operational, financial, compliance, reputational and strategic risks. Stress testing may be the key to keeping those risks in check.

External auditors are supposed to be public watchdogs who are “independent” of their audit clients, both in appearance and in fact. This may seem like common sense, but independence issues remain at the forefront of stakeholder concerns today.

External confirmations are one of the simplest, but most effective, audit tools. Do you understand how they work?

Psychologists estimate that more than 90% of communication happens through tone of voice and body language. So, when evaluating fraud risks during an audit, a face-to-face interview is critical to help detect nonverbal cues.

The year is almost half over. Is your business on track to meet its goals for 2022? Interim financial reporting can help gauge your progress.

Exploring financial statement footnotes can be a rewarding endeavor.

Is your company being transparent about contingent liabilities? In today’s uncertain conditions, reporting contingencies can be challenging. Here’s a refresher on the accounting rules for disclosing and estimating expected losses.

Use your accountant for more than reporting historical results. Here’s how an accounting professional can help you prepare for the future.

Take your audited financials to the next level by implementing the improvements contained in the management letter.

Financial distress rarely happens overnight. There are usually red flags indicating that trouble is brewing, but it might take some effort to spot them.