June 8, 2015
The application of Lean Six Sigma principals has helped countless organizations objectively re-evaluate and streamline their production processes. Lean Six Sigma is a consulting methodology gaining favor in the accounting profession for its focus not ...
June 5, 2015
As if getting audited wasn’t bad enough, now the IRS has added a new twist: the short timeframe audit. With these types of audits, it is possible that an audit case could be closed by the IRS before your client has a chance to show you the letter. This ar
June 4, 2015
Accounting and advisory firm Baker Tilly Virchow Krause, LLP (Baker Tilly) has rearticulated the necessity of improving audit quality after a May 28th United States Department of Labor (DOL) report on its inspection of 2011 employee benefit plan audits.
May 27, 2015
The Center for Audit Quality (www.TheCAQ.org) has launched an online video series that aims to highlight critical issues facing the public company auditing profession and the markets.
May 14, 2015
The American Institute of CPAs (AICPA) has released a Six-Point Plan to Improve Audits that provides a roadmap for the profession’s continued journey to audit excellence. The plan concentrates on financial statement audits for private companies ...
April 23, 2015
The Illinois CPA Society has published a digital feature exploring the issue of audit quality, its impact on the CPA brand and profession in both the public and private sectors, and potential solutions to this high-profile problem.
April 15, 2015
Court nullifies $37,000 deduction for donations of used property to charities, then adds 20% penalty.
March 2, 2015
Running a small business subjects an owner to various twists and turns on a daily basis. Few events, however, will raise an entrepreneur’s blood pressure quicker than a U.S. Department of Treasury letter informing them the business has been selected ...
January 21, 2015
It's tax season, and Americans dread doing their taxes. On the other hand, it's tax season, and millions of Americans will soon be anxiously awaiting their income tax refunds. But they need to avoid the scammers.
December 17, 2014
The most widespread challenge facing audit, risk management and compliance professionals is putting their work into a context that speaks to executives. According to the 2014 GRC Technology Pulse Survey, conducted by ACL, the company that is ...
December 15, 2014
The AiCPA has prepared a new advisory to provide plan sponsors, administrators and trustees with an understanding of the importance of hiring a quality auditor to perform employee benefit plan financial statement audits
December 8, 2014
To help public company auditing firms address risks in a proactive and accelerated manner, the Center for Audit Quality (CAQ) has published a member alert, “Select Auditing Considerations for the 2014 Audit Cycle.”