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Audits Are a Joke and Here’s Why According to a Salty Old Industry Veteran

Going Concern

Industry OG and commentator Gene Marks has written an opinion piece for The Hill about what audits actually are that is less opinion and more brutal fact: Why you should be very skeptical of that auditor’s report. Most of the time, auditors can confidently (and legally) shrug their shoulders and say “not my job.”

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Preparing for Your First Audit – Steps to Follow for Consumer Products Companies

Withum

Although an independent financial statement audit may not gain the day-to-day attention of management the same way as growing revenue or projecting cash flows; for many, there will come a time when an audit becomes a vital part of the company’s lifecycle. When will audit fieldwork commence ?

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Monday Morning Accounting News Brief: Details on Grant Thornton’s PE Deal; What Is ‘Presented Fairly’ Anyway? | 5.13.24

Going Concern

She’s spent more than two decades at AT&T, steadily working her way up to the C-suite from a role as an accounting manager. We have further clarified that this responsibility provides the foundation for an objective and independent audit. On June 4, Cherry Bekaert is holding a Employee Retention Credit updates webinar.

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Here Are Even More 2024 Accounting Salary Projections

Going Concern

To keep things simple, we’ll stick to the tax and audit roles. The most lucrative of these is being a CFO in Boston ($302,309 versus national average of $261,739). The worst is being a data entry specialist…anywhere.

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Elevating Vendor Oversight: The Crucial Role of Performance Guarantees

Withum

For instance, a service provider handling claims processing assumes responsibility for various PGs, spanning account management, enrollment, claims processing, cost containment, and customer service. Audits often uncover significant discrepancies that may have otherwise gone unnoticed.

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Common Accounting Mistakes: Government Edition - Issue #4 Documentation to Prove It!

SMBAccountant

Timecards, and the process for documenting labor hours, can be audited by DCAA at any time without notice. If you have an electronic system, does it have an audit trail that shows when each employee logged in and out? If you have an electronic system, does it have an audit trail that shows when each employee logged in and out?

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Common Accounting Mistakes: Government Edition - Issue #4 Documentation to Prove It!

SMBAccountant

Timecards, and the process for documenting labor hours, can be audited by DCAA at any time without notice. If you have an electronic system, does it have an audit trail that shows when each employee logged in and out? If you have an electronic system, does it have an audit trail that shows when each employee logged in and out?