Cost Accounting Standard Considerations for a Growing GovCon
Cherry Bekaert
NOVEMBER 6, 2023
Contact Us The post Cost Accounting Standard Considerations for a Growing GovCon appeared first on Cherry Bekaert.
This site uses cookies to improve your experience. By viewing our content, you are accepting the use of cookies. To help us insure we adhere to various privacy regulations, please select your country/region of residence. If you do not select a country we will assume you are from the United States. View our privacy policy and terms of use.
Cherry Bekaert
NOVEMBER 6, 2023
Contact Us The post Cost Accounting Standard Considerations for a Growing GovCon appeared first on Cherry Bekaert.
ThomsonReuters
JUNE 6, 2022
When you can flag changes in accounting, auditing, and tax that clients didn’t know about, and help them manage commercial impacts with innovative solutions, then you’re well on your way to gaining their trust. But how do you stay current on accounting and auditing standards when there are new developments happening all the time?
This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.
CPA Practice
AUGUST 10, 2023
Grant Thornton LLP, one of America’s largest audit, tax and advisory firms, has appointed two new leaders to the firm’s Audit Quality & Risk practice. Decker assumes her new role from Mary Ropes, an Audit partner at Grant Thornton, who retires after more than 35 years of service at the firm. Thank you for your leadership.”
Going Concern
AUGUST 2, 2023
Audit Analytics has released “ A Twenty-Year Review of Audit Fees ,” an in-depth look at audit fee trends from 2002 to 2022 and there are some fun charts inside. Mainly we care about this one: In FY2003, average audit fees were $681,000; in FY2022, this number was $2,243,000. God bless Audit Analytics.
Withum
DECEMBER 19, 2023
As these companies gain traction and seek external investments, audited financial statements play a crucial role in instilling trust among stakeholders, investors, and potential partners. 10 Key Steps Here are the key steps startup e-commerce companies can take to prepare for their audited financial statements.
Going Concern
OCTOBER 12, 2023
KPMG Audit Plc was also hit with a fine — £3.5 million — as were the two audit partners in charge of the Carillion work for years 2013-2018. KPMG failed to conduct its audit work with an adequate degree of professional scepticism. million fine, reduced by 30% to £18.5 But that’s not all!
CPA Practice
JANUARY 30, 2024
18 initiated administrative and cease-and-desist proceedings against a longtime assurance partner at top 15 accounting firm Marcum who is accused of improper professional conduct by repeatedly not following U.S. auditing standards over a 10-year period. These failures violated PCAOB auditing standards, the SEC said.
Going Concern
APRIL 15, 2024
The audit opinions they issue typically have meaning and value because the firms operate with public trust. In the public company audit arena, this transparency is maintained through PCAOB inspections of auditors. They’re private entities specifically designed to serve the public interest. The new rule would be welcome news.
Withum
FEBRUARY 17, 2023
This webinar, presented by Ryan Miller, and Sienna Richert of Withum’s Healthcare Services Group, will provide an accounting and auditing update applicable to healthcare organizations. Identify best practices for implementing new accounting standard updates, including ASC 842 leases, updates, and other matters.
Withum
AUGUST 21, 2023
As tokenization gains momentum, the role of accounting and audits becomes increasingly vital in ensuring transparency, accountability, and trust in these emerging technologies. Every token transfer and ownership change is recorded transparently, creating a comprehensive audit trail.
ThomsonReuters
JANUARY 12, 2023
The primary role of an accountant is to handle a variety of tasks including tax preparation, financial planning and audits. . One of these expanded service areas is audit. . But what exactly does offering auditing services entail? How does it compare to traditional accounting services?
PYMNTS
OCTOBER 1, 2019
have led the Financial Reporting Council (FRC) to enact more stringent accounting standards, The Guardian reported on Monday (Sept. According to reports, the FRC issued an updated going concern standard, adding “significantly stronger requirements” for U.K. More high-profile corporate collapses in the U.K.
ThomsonReuters
JANUARY 12, 2023
Amidst a complex audit environment, today’s accountants have many opportunities to take advantage of technology and specialize in up-and-coming focus areas. One of these specialties is ESG audits. . What is an ESG audit? Like any audit, ESG audits can be internal or external. Who performs an ESG audit?
Cherry Bekaert
FEBRUARY 22, 2024
The annual financial statements must be audited, and the date of effectiveness must be within one year and 45 days from the audited balance sheet date. Our Accounting Advisory team regularly interprets and applies U.S.
Going Concern
JANUARY 31, 2023
Bloomberg reported today that KPMG UK CEO Jon Holt told them the firm plans to raise audit fees, news that comes on the same day we find out KPMG UK revenue increased 12% to £2.72 Much of that did not come from audit however, deal advisory is up 24% and consulting 22%. billion ($3.3 billion) for their fiscal year ending in September.
Cherry Bekaert
APRIL 5, 2023
Accounting, Compliance and Internal Control Solutions for Current and Prospective SEC Filers Our Risk Advisory Services practice helps organizations comply with SEC financial reporting, internal control and corporate governance requirements to deliver value and build resilience through effective Internal Audit services.
Going Concern
MARCH 4, 2022
Deloitte considers Russia pull out as pressure grows on western firms to exit [ Financial News ] Deloitte is considering pulling out of Russia, becoming the first Big Four audit firm to do so as pressure grows on Western companies to cut ties with the country following its invasion of Ukraine.
Anders CPA
JANUARY 8, 2024
Jeanne Dee, CPA/CGMA, audit and assurance partner at Anders CPAs + Advisors (Anders), has been appointed to the Financial Accounting Standards Board (FASB) Not-for-Profit Advisory Committee (NAC) effective January 1, 2024. Jeanne also served as a board member and secretary for the Missouri State Board of Accountancy.
CPA Practice
MARCH 1, 2024
By Amrita Choudhary, Kiplinger Consumer News Service (TNS) In recent years, lease accounting standard ASC 842 has replaced the ASC 840 standard. All companies—whether big or small, public or private—have to implement this new accounting standard. Despite AI’s capabilities, human verification remains crucial.
ThomsonReuters
NOVEMBER 8, 2022
Who needs to know : Small, midsize and large finance and accounting professionals that prepare or audit financial statements in compliance with US GAAP. Want more clarity around how to account for revenue-generating contracts in business combinations? Accounting Standards Update (ASU) No.
Withum
JANUARY 4, 2024
Click Here Listen in as John Smith and James Trubenbach-Byrne discuss in this timely webinar how to ensure your healthcare organization is prepared for all the year-end tax accounting and auditing qualifications. Recognize recently issued accounting standard updates applicable to the healthcare industry.
SMBAccountant
DECEMBER 2, 2020
Many small business government contractors are exempt from complying with cost accounting standards (CAS) and defined by the code of federal regulations (CFR). However, compliance with generally accepted accounting principles (GAAP) is required. What exactly is GAAP? All publicly traded companies are required to follow GAAP.
Cherry Bekaert
FEBRUARY 13, 2024
Governmental Accounting Standards Board (GASB) Statement No. 100, Accounting Changes and Error Corrections, an amendment of GASB Statement No. Related Resources: Navigating GASB 100: Accounting Changes and Error Corrections View All Podcasts in this Series Questions?
Going Concern
MARCH 22, 2024
Day Named Technical Director of the Financial Accounting Standards Board [ FASB ] The Financial Accounting Standards Board (FASB) on March 20 announced the appointment of Jackson M. Mr. Day has spent most of his 38-year accounting career at EY, which he initially joined in 1986 on the audit staff in St.
Cherry Bekaert
FEBRUARY 23, 2024
The Governmental Accounting Standards Board (GASB) recently issued Statement No. Cherry Bekaert has a dedicated team of professionals who solely provide governmental accounting advisory services for governments, equipping them with the confidence that their needs will not be placed second to competing audit regulatory deadlines.
Going Concern
JANUARY 25, 2023
When Thomson Reuters reported late last year that the Financial Accounting Standards Board (FASB) had proposed an eighth round of changes to lease accounting rules 1 , accounting and finance execs around the country channeled their inner Charlie Browns with a collective, “Good grief!”
Cherry Bekaert
APRIL 16, 2024
The Governmental Accounting Standards Board (GASB) recently issued Statement No. Cherry Bekaert has a dedicated team of professionals who solely provide governmental accounting advisory services for governments, equipping them with the confidence that their needs will not be placed second to competing audit regulatory deadlines.
CPA Practice
APRIL 11, 2023
Brian Yujuico has been named vice president and senior chief auditor at AuditClub, the Audit Service Center and creator of the innovative auditors-as-a-service model. In this newly created role, Yujuico, a Certified Public Accountant, will oversee day-to-day activities of the growing team of chief auditors, crew and cadets.
Cherry Bekaert
DECEMBER 11, 2023
Navigating Accounting & Auditing Trends and Future Standards: How Will New Standards Affect Your Business in 2024? Elevate your expertise by watching our webinar focused on accounting trends and upcoming audit standard updates for companies in the technology and life sciences industries.
Going Concern
DECEMBER 22, 2023
City accountant looks to outsource paperwork to India [ The Telegraph ] One of the UK’s largest accountants Evelyn Partners is considering outsourcing its services to India as the firm outgrows its new City headquarters. In its ruling, the court said the audit report was so general an investor wouldn’t have relied on it.
Withum
JUNE 14, 2023
Companies will have to disclose specific ESG information that regulators and accounting standards require. ESG reporting standards are transitioning from the wild west to ridged government and accounting-imposed standards. Below is a summary of some sustainability reporting standards companies will be subject to.
CPA Practice
FEBRUARY 27, 2024
By Amrita Choudhary, Kiplinger Consumer News Service (TNS) In recent years, lease accounting standard ASC 842 has replaced the ASC 840 standard. All companies—whether big or small, public or private—have to implement this new accounting standard. Despite AI’s capabilities, human verification remains crucial.
CPA Practice
MARCH 21, 2024
The Financial Accounting Standards Board (FASB) on March 20 appointed a longtime veteran of Big Four firm EY to the role of director of technical activities. Day has spent most of his 38-year accounting career at EY, which he initially joined in 1986 on the audit staff in St. chief accountant.
Anders CPA
JULY 21, 2022
The Financial Accounting Standards Board (FASB) issued new reporting guidelines to help increase transparency around the measurement of contributed nonfinancial assets recognized by not-for-profits, including how much was used to support programs and activities.
Going Concern
JULY 22, 2022
Global Rulemakers Say It’s Time to Fix Goodwill Accounting [ Bloomberg Tax ] The International Accounting Standards Board said Thursday that it would decide whether to change the rules covering acquisition accounting at its next meeting. At Mazars, three of eight audits reviewed (38 percent) met the same threshold.
Accounting Today
FEBRUARY 22, 2024
Most companies are providing some disclosures about their sustainability efforts, but not as many are getting assurance on their numbers from auditing firms.
SMBAccountant
AUGUST 12, 2020
When working as a government contractor, these processes and policies need to be written, reviewed, and updated regularly to ensure compliance with the company’s own requirements, and the accounting standards demanded of contractors spending tax dollars.
Cherry Bekaert
MARCH 6, 2024
We identify issues prior to your external audit process in order to guard against your activities creating the source of a material weakness or restatement. Tax Provision Review The complex compliance requirements of ASC 740 are highly scrutinized and the tight deadlines can be daunting for internal staff.
Accounting Seed
MARCH 29, 2023
In a nutshell, being DCAA compliant means that the organization simply has systems and procedures in place to comply with the DCAA audit.
Menzies
JANUARY 7, 2024
We help you to navigate through annual reporting requirements and explain why adherence to the Financial Reporting Standard (FRS 102) goes beyond the basics outlined by the FCA. We provide audit, accounts preparation and corporate finance services to help our clients with compliance and operational efficiencies.
MarkFriedlich
MARCH 30, 2020
The International Accounting Standards Board (IASB) has released the document, IFRS 9 and COVID-19—Accounting for Expected Credit Losses Applying IFRS 9 Financial Instruments in the Light of Current Uncertainty Resulting from the COVID-19 Pandemic.
Going Concern
JUNE 2, 2023
Staff were already told in March there would not be mid-year promotions in 2023, in audit anyway. Audit, Tax and Legal, and Consulting also saw double digit growth of 10 percent, 13 percent, and 22 percent, respectively. Audit fees at Big 4 firms in the UK have been on the rise for years, increasing 22 percent since 2018.
Going Concern
NOVEMBER 18, 2022
More than 150 retired EY partners have written to the accounting firm’s leadership objecting to the radical plan to split its consulting and audit businesses. KPMG blocked from Abu Dhabi audits as it elects new regional boss [ Financial Times ]. In India, the Big Four firms conduct their audit business through affiliate firms.
Going Concern
JUNE 3, 2022
Accountant Finds Out Client Has “Skeletons In The Closet”, Gets The IRS Involved And Makes Him Lose Everything [ Bored Panda ] It was posted on Reddit so obviously it must be true. That is a far broader calculation than the old rules, which were based on losses expected imminently.
Expert insights. Personalized for you.
We have resent the email to
Are you sure you want to cancel your subscriptions?
Let's personalize your content