Internal audit?

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 …

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Compilation, review or audit: What’s the difference?

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 …

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Continuous auditing technologies in small businesses

The trend of smaller businesses is on a rise for using more continuous auditing technologies. Continuous auditing technology is a way for small businesses to improve their continuous auditing efforts with the purchase of packaged software audit systems. The boom in technology in the past few decades has enabled users to customize anything they’d like. …

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Is GASB exhausted yet?

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 …

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Productivity, efficiency, effectiveness: what does it all mean?

As auditors, accountants, and employees we often hear these three adjectives used interchangeably to describe a desired change among work processes and organizations. As a government auditor, we have gone through lots of CPE and conferences over the last few months. These conferences often have motivational speakers that try to point out one or two …

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What can finance learn from the control-heavy environment of IT?

IT is built around control. Control of all digital applications and information. IT picks apart sensitive information and reviews it frequently to ensure criminals are unable to gain access to our systems. Is there anything finance can take away from this control-heavy environment? Don’t miss: City of Atlanta ransomware  One item worth considering is called …

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City of Atlanta ransomware

Many of you are aware of the famous cyberattack on the City of Atlanta that occurred over a year ago, but you may not understand how it worked out. SamSam is a specific type of ransomware that is known for gaining entry by scanning the network for passwords or other entry data used by vendors …

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Emotional Intelligence in accounting

We’ve all heard about IQ, as the measurement has followed us through school and in pursuing careers. However, what about EQ? Emotional Intelligence matters both in the workplace and in interaction with the public. So, what is it? Emotional intelligence is “the capacity to be aware of, control and express one’s emotions, and to handle …

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Changes impacting debt issues for government entities

Are you, as well as other key personnel, aware of the new amendments? In February 2019, the Securities and Exchange Commission (SEC) amendments to Rule 15c2-12 went into effect for those entities that issue bond debt. This requirement is on new bond obligations being issued now and, in the future, and not a requirement for …

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Updated public debt disclosure requirements

Have you issued public debt? If so, you are going to want to be aware of the amendment the SEC approved to Rule 12c2-12. Effective February 27, 2019, all broker-dealers buying or selling municipal securities, governments, as well as any other obligated persons who issue obligations subject to the Rule will be required, through contractual …

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