Audits vs Fraud Detection: Bridging the Gap with Forensic Services
Victims of fraud often wonder why their auditors didn't flag the deception. "We got a clean opinion!" they might protest. "Why didn't they catch this ...
What is Residual Fraud Risk — and What Can Your Business Do About It?
By regularly analyzing risk, business owners and executives can better understand and manage the likelihood and potential impact of fraud. Generally, ...
Financial Statements at a Glance
Financial statements tell investors information about an organization’s financial performance, helping to ensure corporate transparency and ...
New Report Identifies High-Risk Areas in Financial Reporting
In July 2023, the Public Company Accounting Oversight Board (PCAOB) published a report that highlights common areas of audit deficiencies for public ...
What is Reasonable Compensation for an S Corp?
Reasonable compensation for owners of S Corporations is an IRS audit issue.
9 Signs You Need to Hire a Forensic Accountant
You own and operate a small-to-medium-sized business and have devoted your life to making this company profitable. You have sacrificed and dedicated ...
Pocket a Tax Break for Making Energy-efficient Home Improvements
According to the National Weather Service, an estimated 190 million Americans have recently been under heat advisory alerts. That may have spurred ...
Why Some Small Businesses Are Switching to Tax-Basis Reporting
Accrual-basis financial statements are considered by many to be the gold standard in financial reporting. But with the increasing cost and complexity ...
The Best Way to Survive an IRS Audit Is to Prepare
The IRS recently released its audit statistics for the 2022 fiscal year and fewer taxpayers had their returns examined as compared with prior years. ...