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Financial Audit Preparation Steps: Expert Tips for An External Audit Process 

Withum

Understanding the financial statement audit process and planning ahead can save time, reduce stress and ensure accurate results. In this guide, well walk through the key financial audit preparation steps, explain key differences between AICPA and PCAOB audits and provide actionable tips to streamline the external audit process.

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Decisions 2024: The Opportunities for Accounting Firms Have Never Been Greater

CPA Practice

Batch Extensions from HubSync : Helps CPA firms prepare extensions in bulk. Validis : With notable improvements in financial statement ingestion, the ability to read financials from all accounting systems, and a preliminary partnership with Suralink , this audit support product may be the most improved year over year.

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Friday Footnotes: PwC Scandal Somehow Gets More Scandalous; Deloitte Denied in Court; Withum Embiggens in Florida | 11.8.24

Going Concern

Municipal Messes Delayed audit finds ‘material weaknesses’ in Elton’s finances and procedures [ KPLC (Louisiana)] The town agreed to address such deficiencies including timely adopting an operating budget, hiring someone qualified to prepare financial statements, and submitting required paperwork to the Legislative Auditor’s Office by the due date.

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Friday Footnotes: PwC Completes Its Punishment; Hybrid Work Should Stay in 2025; Deloitte Clutters Up the Dark Web | 1.3.25

Going Concern

The series is called Journeys of Accountancy and features accountants who, for example, work for a CPA firm specializing in the legalized cannabis industry in California, an accounting software company that serves the funeral industry, and a company that provides compliance services to the gaming industry.

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The accountant's advantage over technology in fraud prevention

Accounting Today

Their role transcends preparing financial statements; it includes guiding organizational behavior, promoting transparency, and fostering environments where ethical conduct becomes the norm. Accountants are not merely financial technicians; they are protectors of economic integrity.

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Should Tax Planners Work with Family Offices? How Family Offices Work

CTP

Many large CPA firms offer financial advisory services including family office services for high-net-worth families. Adding a knowledgeable tax planner to their team can greatly increase the value the firm provides its clients. This may operate similarly to an enterprise.

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The AICPA Gets Around to Looking Into If This Whole Private Equity Thing Requires New Independence Rules

Going Concern

The AICPA Code of Professional Conduct has had robust protections in place regarding outside investment in CPA firms for more than 25 years. Only licensed CPA firms can provide attest services, with clearly defined firewalls required for investors taking a piece or outright control of an entity that provides only non-attest services.

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