ARS 41-725: Increasing Governmental Transparency

Over the past several years there has been a great demand to increase the transparency of governmental spending as citizens want to know how tax dollars are being spent. ARS 41-725 requires the state and local governments to provide taxpayers with exactly that kind of information. The statute requires the State of Arizona provide information …

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Leased Employees – Do You Have Them?

The Employee Plans Compliance Unit (EPCU) – has recently completed a project on how benefit plan’s are treating leased employees in regards to qualified plan purposes.  What is a leased employee you may ask? According to the IRS, a leased employee generally is an employee meeting each of the following attributes: 1) Agreement – agreement for …

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Arizona Expert Witnesses to Be Tested – An Alert for CPAs Who Testify (Part 3)

If you provide testimony as an expert witness, you could soon be facing some new challenges from opposing attorneys regarding the opinions you will be rendering in the courtroom.  Effective January 1, 2012, Arizona joined several other states that have adopted the Federal Rules of Evidence relating to expert witnesses, i.e., the “Daubert”   standard. Rule …

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Don’t Forget about your Retainages

Most companies have a variety of projects going on every year.  One of the things that is negotiated early in the process of creating a contract for a project is if a retainage will be built into the terms.  A retainage refers to a portion of the payment that is withheld until the project is …

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Arizona Expert Witness to Be Tested – An Alert for CPAs Who Testify (Part II)

If you provide testimony as an expert witness, you could soon be facing some new challenges from opposing attorneys regarding the opinions you will be rendering in the courtroom.  Effective January 1, 2012, Arizona joined several other states that have adopted the Federal Rules of Evidence relating to expert witnesses, i.e., the “Daubert”   standard. The …

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10 Easy Tips to Prepare for Your 401(k) Audit

If your company’s 401(k) plan requires an audit this year, here are ten things you can do to help you prepare for, and pass your 401(k) audit. 1. Gather all plan documents including new amendments that were made during the current year.  Your auditor will ask for them, so you might as well pull them together …

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Arizona Expert Witness to Be Tested – An Alert for CPAs Who Testify (Part 1)

If you provide testimony as an expert witness, you could soon be facing some new challenges from opposing attorneys regarding the opinions you will be rendering in the courtroom.  Effective January 1, 2012, Arizona joined several other states that have adopted the Federal Rules of Evidence relating to expert witnesses, i.e., the “Daubert”   standard. Senate …

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Self-Fulfilling Going Concerns

In this heated political environment combined with one of the largest recessions in a century, it is no surprise to find that governments are slashing budgets and will no doubt continue to cut programs across the country.  Recently we were on an audit of an entity that relied heavily on government funding for its programs, …

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8 Tips to Manage Inbound Freight Costs

If you are in the business of providing goods, then you undoubtedly are in the business of managing your freight costs (both product in and product out).  This posting will focus on managing inbound freight costs. For many companies, freight expense can be a significant portion of total expenses incurred for the year. So, what …

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