Using agreed-upon procedures to target specific items of concern
If you want to know more about a specific account or nonfinancial matter, an agreed-upon procedures engagement may fit the bill.
News & Insights
Why auditors prefer in-person interviews to assess fraud risks
Psychologists estimate that more than 90% of communication happens through tone of voice and body language. So, when evaluating fraud risks during an audit, a face-to-face interview is critical to help detect nonverbal cues.
Clean Vehicle Credit comes with caveats
The Inflation Reduction Act’s Clean Vehicle Credit might alter the timing of purchasing a new or used qualifying electric vehicle. Learn why.
How your nonprofit can break bad budget habits
Your nonprofit may not have always approached its budget efficiently and productively or received the results it wanted. But it’s never too late to try some new budgeting ideas.
Want to see into the future? Delve deeper into forecasting
If your business wants to see what’s ahead, historical data and expert opinion can help paint the picture. That’s financial forecasting in action.
Manage your construction business … and your wealth
Construction business owners: Are you paying as much attention to your personal wealth management as you are to your company’s financials? It’s important to balance the two.
Is your current bad debt allowance reasonable?
A recent survey of audit partners found that 40% were uncertain about the outlook for their primary industries. In light of this uncertainty, many companies are re-evaluating their allowances for uncollectible receivables.
A financial dashboard can take your nonprofit where it wants to go
Similar to the dashboard in your car, a financial dashboard is an instant visualization tool that can tell you whether your nonprofit is running smoothly and efficiently. But it’s critical that you choose the right metrics.
IRS offers penalty relief for 2019, 2020 tax years
The IRS is providing broad-based penalty relief to most taxpayers who filed certain 2019 and/or 2020 tax returns late due to the COVID-19 pandemic. Find out if you might qualify.
How to share your nonprofit’s values and limit fraud losses
Requiring staffers to read and sign a code of ethics enables you to share and promote your nonprofit’s values. As a bonus, these codes are associated with reduced occupational fraud losses.
Maryland Student Loan Debt Relief
Comptroller Urges Marylanders to Apply for Student Loan Debt Relief Tax Credit by Sept. 15
Is your construction company a C corporation? Beware of “unreasonable” compensation
If your construction business is a C corporation, take care that you and other owners aren’t compensated “unreasonably” by IRS standards. A recent court case demonstrates why.