Recent Survey Unveils Primary Audit Committee Concerns

Thursday, July 11, 2024
Audit committees act as gatekeepers of the accounting and financial reporting processes, encompassing the efficacy of the company's control environment. Yet, with the regulatory scene growing more intricate and organizations...... Read More

4 Areas for Cost Reduction to Enhance Your Business's Profitability

Thursday, July 04, 2024
Many businesses prioritize increasing product and service sales to enhance profitability. However, solely concentrating on sales volume doesn't always lead to higher profits. In reality, funneling more sales through a...... Read More

How to Communicate Accounting Information to Laypeople

Thursday, June 27, 2024
Precise and prompt financial information is crucial for executives, board members, investors, and other stakeholders to make informed decisions. However, not all recipients of your financial statements will understand the...... Read More

It’s Time for a Midyear Checkup on Your Company’s Financial Health

Thursday, June 20, 2024
Interim financial reporting is crucial for managing a successful business. Yet, when reviewing midyear financial reports, it's important to acknowledge their potential shortcomings. These reports might not be as reliable...... Read More

Getting a Handle On Inventory

Thursday, June 13, 2024
Inventory is a key balance sheet item for many companies. Depending on the nature of your operations, inventory may include raw materials, work-in-progress (WIP) inventory, and finished goods. While you...... Read More

ESG Audits: Navigating new frontiers in corporate responsibility

Thursday, June 06, 2024
Reporting on environmental, social, and governance (ESG) matters is an increasingly crucial area of corporate compliance. While ESG reporting and disclosure apply primarily to public companies, there are efforts aimed at requiring private companies...... Read More

Auditing WIP Today

Thursday, May 30, 2024
External auditors spend a lot of time during fieldwork evaluating how businesses report work-in-progress (WIP) inventory. Here’s why this warrants special attention and how auditors evaluate whether WIP estimates seem...... Read More

Mind the GAAP: How to ensure transparency when using non-GAAP metrics

Thursday, May 23, 2024
At Financial Executives International’s Corporate Financial Reporting Insights Conference last November, staff from the Securities and Exchange Commission (SEC) expressed concerns related to the use of financial metrics that don’t...... Read More

How to Minimize Billing Bottlenecks

Thursday, May 16, 2024
Managing accounts receivable can be challenging, especially in an uncertain economy. To keep your company financially fit, it’s a good idea to occasionally revisit your billing and collections processes to...... Read More

Spotlight on Auditor Independence

Thursday, May 09, 2024
Auditor independence is the cornerstone of the accounting profession. Auditors’ commitment to follow the standards set forth by the American Institute of Certified Public Accountants (AICPA), the Securities and Exchange...... Read More