Services: Audit & Assurance
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Implementation of ASC 326 (Credit Losses) for Healthcare Entities
OVERVIEW In June 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2016-13, “Measurement of Credit Losses on Financial Instruments”, which…
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How To Review A SOC 2 Report
In a previous article we stressed the importance of proper Vendor Risk Management. But how do you actually review a SOC 2 report, especially…
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Related-Party Loans and Advances: Considerations for Operations and Reporting in the Healthcare Industry
Related-party financing and advances to and from affiliates are commonplace in the health care industry, especially within the skilled nursing industry as well as…
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Business Combinations: The Acquisition Method Under U.S. GAAP
Businesses enter into acquisitions for a multitude of reasons. For example, a company may be looking to grow, expand product offerings, or open distribution…
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Form 5500 Schedule H: Fewer Plans will Require Audits Starting in 2023
While it is not common for regulatory compliance requirements to lessen over time, in February 2023, the Internal Revenue Service (IRS) and U.S. Department…
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The ABCs of CAS
Client Accounting Services (CAS) is one of the fastest-growing outsourced services available to small and growing businesses. CAS allows business leaders to focus on…
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Centers for Medicare and Medicaid Services’ (CMS) New Long Term Care Facility Staffing Requirements
On September 1st, 2023, CMS proposed the Minimum Staffing Standards for Long-Term Care (LTC) Facilities and Medicaid Institutional Payment Transparency Reporting rule. This rule…
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Navigating the Digital Frontier: The Crucial Role of Vendor Risk Management
In today’s fast-paced and hyperconnected business landscape, organizations rely heavily on outsourcing responsibilities to third-party vendors to streamline operations and meet customer demands. While…
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What the New Auditing Rules on Accounting Estimates Mean For You
Statement on Auditing Standards No. 143: Auditing Accounting Estimates and Related Disclosures is effective for 2023 year-end audits. The standard provides auditors updated guidelines…
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Year End is Quickly Approaching… Are you Prepared?
Fall is here. The trees are changing colors. Now is the perfect time to start working on your year-end tax planning. We have put…