article thumbnail

How to Effectively Audit Accounts Payable

MineralTree

However, amidst today’s rapid and intricate business transactions, particularly in high volumes, managing accounts payable processes can pose significant challenges. Without proper oversight and regular checks, accounts payable can turn into a source of financial complexity and risk. What Is an Accounts Payable Audit?

article thumbnail

Jeanne Dee Appointed to FASB Not-for-Profit Advisory Committee

Anders CPA

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. in Accounting from the University of Missouri – St. She holds a B.S.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Trending Sources

article thumbnail

Friday Footnotes: Deloitte’s Naughty Workpapers; Audit Reform Critics; Clients Getting Dropped Like Mics | 3.4.22

Going Concern

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.

audit 73
article thumbnail

Friday Footnotes: KPMG Pays High Schoolers 20 Bucks an Hour; Deloitte Cyberattacked Too; IRS on ERC | 7.28.23

Going Concern

Nonetheless, Fulton knowingly laundered Nix’s illegal gambling proceeds by continuing to provide financial services to Nix and providing access to the financial system. This makes Deloitte the third Big Four accounting firm to be claimed by the threat actors on its dark leak site. . … since 2007. Such suggestions are false.

article thumbnail

FASB Private Company Council Meeting Recap

CPA Practice

Accounting for and Disclosures of Software Costs: FASB staff provided PCC members with an update on the project, including the Board’s recent decision to pursue targeted improvements to Subtopic 350-40, Intangibles—Goodwill and Other—Internal-Use Software.

article thumbnail

AICPA News – Sept 2023

CPA Practice

AICPA News is a roundup of recent announcements from the American Institute of Certified Public Accountants. The practice aid, Accounting for and Auditing of Digital Assets , is intended to provide nonauthoritative guidance on how to account for and audit digital assets under U.S.

audit 59
article thumbnail

A Comprehensive Guide to Building an Optimal Accounting System

Basis 365

We often inherit accounting systems with poor data that prevent accurate financial statements. Protect Cash: Implement robust internal controls like authorization levels, segregation of duties, and regular audits to safeguard your valuable financial data and prevent fraud. Trust only goes so far.