When you hear the term audit, you may immediately think of a team of IRS officers rummaging through your files looking for discrepancies and errors in your business's tax returns. However, financial ...

Charlene Rhinehart is a CPA , CFE, chair of an Illinois CPA Society committee, and has a degree in accounting and finance from DePaul University. Katrina Ávila Munichiello is an experienced editor, ...

IN CERTAIN INSTANCES CPAs SHOULD CONSIDER preparing and reporting on financial statements using an “other comprehensive basis of accounting” (OCBOA). Tax-basis and cash-basis, including ...

Every business keeps records of its operations and transactions, and accountants take this information to produce four basic financial statements: a profit and loss statement, balance sheet, statement ...

When it is time to bring in an external audit firm — perhaps because lenders, investors or a regulatory body triggered the need to audit your financial statements — preparation and responsiveness are ...

Discover the key differences between compiled and certified financial statements, including auditing, reliability, and ...

When you apply for business funding, lenders and investors want to ensure they won’t lose money on your venture. That’s why bringing detailed financial statements to your pitch meeting is crucial.

TO HELP AUDITORS COPE WITH THE ISSUES surrounding the explosive growth in information technology use, the ASB issued SAS no. 94, The Effect of Information Technology on the Auditor’s Consideration of ...

Although some may see them as a headache, audits play a very important purpose in the operation of a nonprofit. For starters, ...

For many, the term “Air Force” conjures up images of fighter jets and airmen in combat. But there’s a lot more that happens behind the scenes. Budgeting, funding and accounting, for example, are ...

The Prince Albert Catholic School Division has received a clean audit on their financial statements for 2024-2025. As part of ...