When it comes time to prepare for an audit, it’s easy to get overwhelmed. With the current COVID-19 health crisis, many auditors are still working remotely, creating an unprecedented need for remote audits. While auditing remotely sounds difficult,...

Many business people are not aware that the scope of a typical accounting engagement does not include services relating to the disclosure of employee fraud, which may leave your business vulnerable. Implementing good internal controls can help minimi...

As an employee benefit plan sponsor, your job seems never ending with the numerous Department of Labor (DOL) rules and regulations concerning a plan fiduciary. If you take an organized, methodical approach, you can satisfy your fiduciary obligations ...

Recently, the Department of Labor (DOL) released a final rule that radically increases the thresholds for overtime rules, expanding the number of employees eligible for overtime pay protection to over 4 million workers within the first year of implem...

The Financial Accounting Standards Board recently announced that it will move forward with its Current Expected Credit Loss (CECL) standard (an expected loss model), but will push the implementation period back by one year – a huge relief for many ...

As an employee benefit plan sponsor, you have a fiduciary responsibility to ensure that your qualified plan complies with all current employee benefits laws and regulations, and operates within the plan’s current provisions. To help ensure your def...

A recent study conducted by the Institute of Internal Auditors (IIA) shows the median salaries for U.S. internal audit positions have decreased despite the modest pay raises received this past year. Surveying 10 internal audit positions, the 2015 int...

After much anticipation, the Financial Accounting Standards Board (FASB) issued final guidance on lease accounting, Accounting Standard Update (ASU) No. 2016-02, Leases. Initiated to address transparency concerns, the new guidance will bring a major...