Going Concern

APRIL 12, 2024

ICYMI: These are the most-read articles on Going Concern this week: Tax Preparer Finds Out in the Worst Way Possible That ERC Wasn’t a Free Money Glitch Survey Says: Which Group of Auditors Are Most Satisfied With Their Salaries? the auditor of Tesla Korea, about the company’s financial statements for last year.

CPA 104

CPA auditor Tax audit 104

Going Concern

JANUARY 22, 2024

Not all jobs, specifically “vision tasks” which in our little corner of the world most closely applies to auditors’ much-loathed inventory counts. moving from agriculture to manufacturing). In less intelligent words, they wanted to figure out if robots are taking your job.

auditor 62

auditor Technology audit Agriculture 62

TaxConnex

DECEMBER 29, 2020

During a sales tax audit, one of the first requests from the auditor will be for you to provide copies of all exemption certificates for any exemptions you have claimed on your returns. The nature of the exemption (resale, manufacturing and so on). The most common is a resale exemption. How important are these certificates?

auditor 163

auditor audit Tax Sales 163

TaxConnex

JULY 20, 2023

Is the transaction a sale for resale, is the customer claiming a manufacturing exemption, is the customer a tax exempt entity, etc.) Facts to consider: Is an exemption certificate on file? Is it the appropriate certificate for the exemption claimed? (Is Is the certificate missing a signature, date, or other required field?

audit 130

audit Tax Sales auditor 130

Going Concern

MAY 12, 2022

The Financial Times reported this afternoon: KPMG is set to be hit with its biggest-ever fine in the UK after a tribunal found that its auditors deliberately misled regulators during routine inspections of its work. The monetary amounts of the five ex-KPMG auditors’ punishments have yet to be decided.

auditor 52

auditor audit Construction Manufacturing 52

Going Concern

MARCH 25, 2024

Britain’s accounting watchdog said on Monday it would scrap a planned increase in staff because of continued delay in obtaining new powers to crack down on lax auditors after a string of high-profile company failures.

Account 102

Account accountant accounted auditor 102

TaxConnex

OCTOBER 25, 2022

Auditors reported problems with the Louisiana Sales and Use Tax Commission for Remote Sellers. The vetoed measure would have added locally approved tax rates to the current state General Fund-only sales and use tax exemption for the purchase of manufacturing equipment. Blue bayou.

South Dakota 130

South Dakota Sales Tax South Carolina 130

Going Concern

MAY 2, 2024

Struggling to find remote accountants, CAS experts, auditors, or tax professionals for your firm or internal team? Accountingfly can help! With our Always-On Recruiting service, access a pool of skilled remote accountants without any upfront costs. Sign up now to see the complete candidate list and connect with potential hires.

Real Estate 57

Real Estate Account accountant accounted 57

Going Concern

MAY 28, 2024

After leaving that role in 1989, Behler then spent the next decade starting multiple businesses in the Puget Sound area, including a manufacturing and import company of specialty coffee and a soft drink company specializing in bottled Italian soda. I daresay this is might actually be cool? – More than 1.2

audit 57

audit Hospitality Account accountant 57

Menzies

DECEMBER 6, 2023

In addition to maintaining their ‘independence’ so to give a fair view of any audited accounts, the auditor should make sure they are questioning the information they are given and apply some ‘professional scepticism’ to the audit process whilst also seeking corroborating evidence at the appropriate time.

audit 52

audit auditor accounting and finance chartered accountant 52

KROST

JUNE 6, 2022

Assurance & Advisory , Manufacturing & Distribution , Not-for-Profit. Rebecca has been with the A&A department for 5 years, as a staff auditor and then a senior auditor. » Full Bio. His areas of expertise range from the retail and Foodservice industries to Technology and Business Consulting. Assurance and Advisory.

auditor 52

auditor Real Estate CPA audit 52

CPA Practice

AUGUST 1, 2023

It would provide investors with more detailed information about the types of expenses, including employee compensation, depreciation, amortization, and costs incurred related to inventory and manufacturing activities in income statement expense captions such as cost of sales; selling, general and administrative; and research and development.

accounting standards 52

accounting standards auditor Manufacturing financial statements 52

CPA Practice

SEPTEMBER 5, 2023

Practitioners who prepare financial statements and auditors with a fundamental knowledge of blockchain technology will find the guidance most useful. 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. 1.6417-1(c).

audit 59

audit cpas auditor accounting principles 59

Anders CPA

DECEMBER 6, 2022

Manufacturing equipment may be exempt under the manufacturing exemption. Economic nexus can be met faster than one might think, easily missed by the business you are looking to acquire and can quickly be found by a state auditor – leaving you liable for mistakes you did not make, instead mistakes you assumed during the purchase.

Tax 52

Tax Manufacturing income tax auditor 52

PYMNTS

JUNE 3, 2020

The fee applies to large retailers and manufacturers who ship 40,000 or more packages per week. Almost invariably, the merchant will eat the higher costs,” Rob Martinez, co-chief executive of Shipware LLC, a shipping strategy consultant and auditor, told the WSJ. There will also be an extra $30 charge to all oversized packages.

Tennessee 56

Tennessee auditor Manufacturing Start-ups 56

Going Concern

DECEMBER 15, 2023

“People who have, from their desk and keyboard, watched mechanical muscles automate manufacturing and automate spreadsheet analysis, suddenly, they’re finding mechanical minds beginning to automate what they do,” said Mike Bechtel, chief futurist with Deloitte and co-writer of the report.

audit 109

audit Technology accounting and finance Legal 109

PYMNTS

FEBRUARY 19, 2020

It could also be the case that as supply chains are disrupted, such impact could be felt across international firms that are focused on manufacturing. The impact is not confined to China. One standout: Operating leases – tied to the real estate that is owned or is integral to a company’s daily activities – could be written down. The Events.

Hospitality 56

Hospitality Real Estate auditor Sports 56

PYMNTS

FEBRUARY 27, 2019

While small in number, these reviews can significantly undermine the trust that consumers and the vast majority of sellers and manufacturers place in Amazon, which in turn tarnishes Amazon’s brand,” Amazon said in a complaint it filed against those reviewers.

California 43

California income tax auditor Manufacturing 43

Withum

MAY 28, 2024

This targeted approach enables auditors to allocate resources more efficiently and prioritize areas of greatest concern, which may lead to more effective risk management and process improvement initiatives.

audit 52

audit Healthcare auditor Manufacturing 52

Withum

APRIL 4, 2022

A leading private bridal and special occasion dress designer and manufacturer with a national and international presence was struggling to keep its operations efficient through its growth and needed to accommodate a newly remote workforce. Download a PDF of this case study. Executive Summary. The Client. View More Case Studies. Contact Us.

NetSuite 52

NetSuite Manufacturing tax preparation auditor 52

ThomsonReuters

JANUARY 18, 2024

Working with external auditors. For instance, accountants may specialize in serving nonprofits, manufacturers, restaurants , or dental offices. In general, an accountant’s job description includes common accounting tasks such as: Performing risk analysis evaluations. Recording expenses and preparing financial reports.

Account 59

Account accountant accounted tax preparation 59

Going Concern

APRIL 19, 2024

The bar for possible enforcement actions is set too low under draft rules the Public Company Accounting Oversight Board released in February, exposing firms to greater legal liability, auditors and accounting groups told the regulator in feedback submitted through April 15. Ardoino stated, “None of the Big Four firms are willing to audit us.”

cpas 103

cpas accounting firms Account accountant 103

TaxConnex

SEPTEMBER 7, 2023

During a sales tax audit, one of the first requests from the auditor will be for copies of all exemption certificates for any exemptions claimed on sales tax returns. However, in most situations, claiming an exemption requires a state-specific exemption certificate. How important are these certificates?

Sales 147

Sales Tax Non-Profits North Carolina 147

ThomsonReuters

FEBRUARY 1, 2024

Manufacturers and many other types of businesses are also often eligible for resale exemptions which includes items that become a component part of a product sold. Software Effortlessly collect exemption certificates with the Exemption Manager in ONESOURCE Determination.

audit 52

audit Sales Tax Manufacturing 52

Going Concern

JUNE 2, 2023

Founded in 1995, HKG provides audit, tax and accounting services to clients across many industries including private equity, health care / life sciences, manufacturing and distribution, real estate, media, professional services, early stage and emerging growth companies, and not-for-profit.

cpas 104

cpas audit auditor E-commerce 104

Going Concern

APRIL 1, 2024

The storage container manufacturer is the latest on a growing list of companies that have delayed their annual reports for a host of reasons. It’s Joy Merriner’s job as an independent auditor with the firm BDO to go through the city’s financial statements and make sure they are fair and accurate.

Account 104

Account accountant accounted audit 104

ThomsonReuters

JANUARY 29, 2024

An example is carbon capture—taking carbon dioxide that would otherwise be released into the environment and “reusing” it for applications such as concrete manufacture and fuel.  In many cases, businesses are engaging third-party assurance auditors to in their ESG reporting. And

audit 52

audit Technology Government auditor 52

Airbase

NOVEMBER 15, 2023

Transaction software for AP automation was first launched in 2000 and was tailored for specific industries, such as real estate, healthcare, and manufacturing. Auditors and reviewers can swiftly verify the accuracy and compliance of financial records, reducing the time and effort to manually gather and reconcile this data.

AP Automation 130

AP Automation Technology accounts payable Accounts Payable Automation 130

ThomsonReuters

NOVEMBER 8, 2022

The audit must be completed by a certified home inspection auditor and is meant to identify the most significant and cost-effective energy efficient improvements. . The item is produced by a qualified manufacturer and . The credit is increased by amounts spent for a home energy audit conducted on a taxpayer’s principal residence.

Construction 52

Construction audit Tax Manufacturing 52

Going Concern

JANUARY 26, 2024

How AI is transforming audit [ Thomson Reuters ] In the past, auditors have heavily relied on manual processes to uncover risks in financial statements and business operations. This allows auditors to shift attention to more complex and strategic work, like interpreting results and offering experience-based insights to clients.

Account 117

Account accountant accounted audit 117

PYMNTS

JANUARY 10, 2017

Fishing around in drawers for files, especially for operations that are quite some ways away, can be painful for both companies and auditors alike, said Nissen. Data points and invoices could be presented differently in graphical form or across different languages.

accounts payable 48

accounts payable Account accountant accounted 48

PYMNTS

JULY 25, 2019

It was originally an independent IoT irrigation controller manufacturer, but was acquired by irrigation giant Hunter Industries in 2016. Hunter also enlists an independent auditor for help, tapping a team that attempts to hack into the Hydrawise devices and present any found vulnerabilities. Hydrawise is one such outdoor system.

auditor 46

auditor Technology Manufacturing Start-ups 46

Going Concern

NOVEMBER 10, 2023

They also expect auditors to understand and evaluate processes and controls, analyze transaction-level data for anomalies, and test more data in real-time,” said Scott Flynn, KPMG vice chair—Audit, in a news release.

audit 119

audit accounting and finance auditor Mississippi 119

Going Concern

APRIL 14, 2023

Investors are left to navigate a field of potential landmines in the enormous roster of clients that the Big Four boasts, where auditor independence is understandably in question. million) for its audit of lighting manufacturer Luceco (LUCEL.L) for its financial year to Dec.

Tax 104

Tax auditor audit accounting firms 104

Going Concern

JULY 7, 2022

There’s a story in the New York Times today about how EY “devised an elaborate arrangement” for nonprescription drugmaker Perrigo to avoid more than $100 million in taxes, an arrangement that was questioned by Perrigo’s then-auditor BDO. That’s not the role of an independent auditor.”. Quick aside: LYNN TURNER.

auditor 62

auditor audit Non-Profits Construction 62

Going Concern

FEBRUARY 17, 2023

Audit Lack of Crypto Audit Regulation Raises Questions About PCAOB Authority [ Wall Street Journal ] The Public Company Accounting Oversight Board is facing calls to be the regulator that brings supervision to bear on auditors of cryptocurrency companies, even as the majority of crypto businesses fall outside its jurisdiction. “It

Legal 98

Legal audit auditor South Carolina 98

Going Concern

FEBRUARY 16, 2024

Bill would let private CPAs, not state auditor’s office, audit state agencies [ Radio Iowa ] Senator Mike Bousselot, a Republican from Ankeny, IA seems to think letting CPA firms audit government books instead of the state auditor will fix the accountant shortage somehow?

Real Estate 104

Real Estate Iowa audit CPA 104