CPA Practice
MARCH 4, 2024
Auditors, like so many others today, are seizing the opportunity to transform how they work by adopting artificial intelligence. These findings make it critical for those of us in the audit profession to help the next generation understand the vision and opportunities that await those who choose this career path as auditors embrace AI.
TaxConnex
APRIL 28, 2022
In years past, auditors could show up at your door asking to look at your records. Many audits are conducted remotely, and an auditor never visits your office. Auditors can tap different data sources to select audits more accurately based on the level of risk, and to use new tools to automate the repetitive tasks of an audit.
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TaxConnex
APRIL 4, 2023
One of your customers undergoing their own sales tax audit might unearth one of your invoices, resulting in the auditor possibly contacting you for a certificate of exemption or other documents. An audit of one of your suppliers could turn up one of your exemption certificates for something the auditor may think is taxable.
TaxConnex
NOVEMBER 29, 2022
Unfortunately, there’s no playbook for determining the company profile that will attract a state’s auditors, but there are measures you can take to assess your exposure: Understand physical and economic nexus. ?Physical Also be careful who the auditor has access to and what areas of your business they have access to. First moves.
Withum
JANUARY 24, 2023
Establish Expectations and an Open Line of Communication With Your Auditor Communication can make or break an audit. Make it a priority to answer all emails and phone calls from your auditor in a timely manner. Auditors can only work as quickly as the requested information is provided.
Airbase
NOVEMBER 15, 2023
ERP/General ledger vs transaction solutions. Include document capture and imaging features to convert paper invoices into electronic documents. Process large volumes of supplier documents, such as invoices or credit memos. Provide a single repository for users to search and retrieve AP documents.
Going Concern
SEPTEMBER 25, 2023
In that capacity, Urban was responsible for maintaining the company’s general ledger, preparing financial statements, and reconciling the company’s accounts payable and receivable and bank statements.
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