When is a Gift a Bribe?
When is a gift a bribe? Vendors often give sporting event tickets to clients. Or maybe they take them…
Understand Engagement Quality Reviews and Monitoring and Remediation
The new quality management standards include (1) engagement quality reviews and (2) monitoring and remediation. So what are these,…
AICPA Quality Management: Why You Need to Start Now
All firms performing any engagement in an accounting and auditing practice must comply with the new Quality Management (QM) standards,…
Accounting Tricks Used to Inflate Earnings
Companies can inflate earnings easily with accounting tricks such as cookie jar reserves. This article explores how businesses inflate…
Audit or Tax, Which is the Better Job?
Should you work in tax or audit?If you’re near graduation, you may wonder, “Which is best for me? Tax…
Why Accountants Use ChatGPT (or should be)
Accountants use ChatGPT—or if not, they should be. The old way of Googling for information is not the most…
CECL’s Impact on Private Nonbank Companies
What is CECL’s impact on private nonbank companies? This article provides an overview of how CECL might impact your…
See How to Audit Journal Entries: AU-C 240
Journal entry testing is required in all audits. Why? The use of journal entries to manipulate financial statements is…
Secret Bank Accounts Cause Fraud Losses
Secret bank accounts lead to havoc. Substantial losses can occur when unauthorized bank accounts are opened by company personnel. …