HK Business News

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.

Could your manufacturing company owe tax in another state? One way to learn the answer is to conduct a nexus study.

Are your manufacturing company’s gross receipts under $25 million? If so, it may be eligible for small business tax benefits.

If your manufacturing company is struggling to attract top talent, a healthy selection of employee benefits, in addition to competitive pay, can be the key to landing the best candidates.

There are many tax-related variables when it comes to selling your manufacturing company. Read more about them.

If you’re purchasing equipment for your manufacturing company before year-end, determine if it qualifies for the Section 179 expensing deduction.

The CHIPS Act aims to bolster semiconductor production and economic competitiveness. Among its provisions are funding initiatives and an investment tax credit for manufacturing facilities and equipment.