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  • Assessing going concern issues in an audit March 27, 2017 The Auditing Standards Board (ASB) has unanimously voted to issue a final going concern standard. This standard will align the AICPA’s auditing guidance with accounting guidance issued by the Financial ...
  • Income tax disclosure proposal receives negative feedback March 27, 2017 When the Financial Accounting Standards Board (FASB) proposed adding a number of disclosure requirements to the guidance for income taxes, the board sought to balance the cost of the proposed ...
  • FASB resumes work on its hedge accounting project March 27, 2017 In January, the Financial Accounting Standards Board (FASB) went back to work on its project to simplify hedge accounting. So far, FASB members have agreed to include a number of ...
  • How auditors evaluate fraud risks March 24, 2017 Assessing fraud risks is an integral part of the auditing process. Statement on Auditing Standards (SAS) No. 99, Consideration of Fraud in a Financial Statement Audit, requires auditors to consider ...
  • Offer plan loans? Be sure to set a reasonable interest rate March 22, 2017 Like many businesses, yours may allow retirement plan participants to take out loans from their accounts. Such loans are governed by many IRS and Department of Labor (DOL) rules and ...
  • FAQs about agreed upon procedures March 17, 2017 An agreed upon procedures (AUP) engagement uses procedures similar to an audit, but on a smaller and limited scale. Here’s how a customized AUP engagement differs from an audit and ...
  • Getting your money’s worth out of a company retreat March 16, 2017 Company retreats can cost enormous amounts of time and money. Are they worth it? Sometimes. Large-scale get-togethers can involve considerable out-of-pocket costs. And if the retreat is poorly planned or ...
  • Evaluating going concern issues March 10, 2017 Financial statements are generally prepared under the assumption that the business will remain a “going concern.” That is, it’s expected to continue to generate a positive return on its assets ...
  • Listen and trust: The power of collaborative management March 8, 2017 Many business owners are accustomed to running the whole show. But as your company grows, you’ll likely be better off sharing responsibility for major decisions. Whether you’ve recruited experienced managers ...
  • Ireland appeals Apple state aid decision March 7, 2017 The European Union’s Official Journal published Ireland’s appeal asking for an annulment of the European Commission’s decision that Ireland had granted unlawful state aid to technology company Apple Inc. Following an ...