Posts about Audit and Compliance

Understanding Audits: The 4 Types of Audit Reports

Posted by Janis Mae Narvas

Sep 12, 2017 8:00:00 AM

In the United States, publicly listed companies are required to have an audit of their financial statements. After collecting substantial information, an external auditor issues a statement or an opinion with regard to the quality or integrity of the company’s reported financial information. When you receive anything but an unqualified opinion, the audit report indicates that there are issues or irregularities in your financial statement.  Related: The Role of Financial Reporting in Corporate Transparency Publicly held companies conduct regular audits for compliance, as well as for the benefit of their lenders, investors, and suppliers. For privately held companies, it may not be necessary to have your statements audited, although some creditors or investors may require it before they do business with you. Audited financial statements can be used in improving internal controls or in assessing the financial health or performance of an entity. Therefore, as a CFO, it’s important to understand the audit opinions provided in the different types of audit reports.

5 Things You Need to Do Before an Internal Financial Audit

Posted by Cedric Joshua Martinez

Aug 31, 2017 2:49:35 PM

Financial internal audits can be intimidating to business owners and finance executives alike. However, both should understand that internal audits are not something to fret, especially when your company comes in prepared.

Top Qualities of the Ideal Internal Financial Audit

Posted by D&V Accounting Services

Apr 21, 2016 3:16:43 PM

The internal controls of a company speaks volumes of its current business financial position. To proactively assess this, business owners need to put a strong auditing system in place. By effectively auditing business finances, SME owners can breeze through their business objectives, obtain reliable financial reporting, keep fraud at bay and improve cashflow management.

Small Business Auditing Tips: Basic Hacks for your SME

Posted by D&V Accounting Services

Apr 14, 2016 2:51:38 PM

Has your business ever been audited? Most business owners would agree that being audited by the IRS is a tedious and complicated matter. On top of making sure that all your business financial records are in order and that you are conforming to the rules of accounting for small business, you should also be able to explain the records on your own.

7 Audit Red Flags That Could Get Your Business In Trouble

Posted by D&V Accounting Services

Apr 4, 2016 1:54:00 AM

As a business owner, you are expected to wear many hats. On top of looking after your actual business operations, you are also expected to stay on top of your business finances. Unfortunately, the latter could be a challenge if your business is growing and there is an expansive set of critical business numbers to crunch. Not to worry though, because you are not entirely helpless on the matter. In fact, there are a myriad of modern tools and processes to get you ahead - one of which is a business audit where you can look at the seven audit red flags. 

GAAP Compliance and your American SME

Posted by Gillian Vitug

Oct 28, 2015 6:00:00 AM

  Using research from various finance and accounting services as well as the summary of the 2014 State of SME Finance in the United States as basis, it would seem that small and medium enterprises in America are indeed the driving forces of the US economy. 

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