As of March 13, 2020, we were notified that all schools would be closed as a preventative measure due to the COVID-19 outbreak. This has resulted in multiple effects in our general community among other things. From a business perspective, new questions have surfaced for the March 31 deadline. Don’t miss: $21 million missing and …
A CPA can perform a number of services for an organization based on the organization’s needs. Typically, the three financial statement engagements are an audit, review or compilation. In all three instances the result is a set of financial statements, that are the responsibility of the organization’s management, where different assurances are provided by the …
Recently the Arizona Auditor General released its report for Northern Arizona University’s (NAU) internal control and compliance for the year ending June 30, 2019. The report includes only one finding, that the “University inappropriately paid for $40,277 of the President’s and her spouse’s travel expenses that conflicted with policies and lacked appropriate documentation, which put …
We want our clients to get more out of their audits! We are not talking about heartburn either. We invite you to look behind the audit curtain. Maybe this will shed some light on what is going on. We have an action plan, some things you can do to help turn your audit from good …
An audit can be defined as a process where business records are examined by an auditor to determine whether a business’s financial statements appear to be accurate. There are two types of audits: external and internal. It is important to understand the meaning of the two as your organization may at one-point experience both. It’s …
There has been an increased number of ransomware attacks reported in the last year including municipalities in the state of Texas, as well as attacks on the cities of Baltimore and Atlanta. It should not be a surprise that data breaches continue to be a top fraud trend. Unfortunately, ransomware is not the only fraud …
I recently came across an article about a small town in Virginia, who allegedly had $21 million missing all due to the top tier of the County Government individuals. Front Royal, Virginia is in Warren County and had big plans for the growth of buildings, jobs, and other developments within the town. These big new plans …
For a CPA these three words have a very distinct meaning. But to the non-auditing world, these words can have very different meanings. As the client, you may have found yourself wondering what these words really mean. This article will provide a crash course in audit terminology. A brief explanation of the key characteristics and …
We previously posted a blog on how to reduce the number of meetings you attend. Once you actually step into a meeting, how do you make the most of your time in that meeting? There is always additional information or topics that tend to creep into the meeting which can either hinder or improve the …
It seems as if the Governmental Accounting Standards Board (GASB) never sleeps. I mean, they are currently working on GASB Statement No. 90 – that’s right, NUMBER 90! Of course, they are amending past GASB Pronouncements with No. 90, but still, they have made it to the 90s! I’m sure you are thinking, “When will …