Topics: Fraud Prevention
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Unveiling the Dark Side: How Bad Actors Harness the Power of AI
Artificial Intelligence (AI), with its transformative potential, has become a double-edged sword, empowering both positive advancements and, unfortunately, nefarious activities by bad actors. As…
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Corporate Transparency Act
One of the biggest legislative changes affecting small business in 2024 and future years is the Corporate Transparency Act (CTA). Here is a list…
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Protecting Your Holiday Cheer: A Guide to Preventing Common Holiday Fraud Schemes
The holiday season is a time for celebration, joy, and generosity. Unfortunately, it’s also a peak period for fraudsters looking to take advantage of…
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Income statement items warrant your auditor’s attention
Today’s auditors spend significant time determining whether amounts claimed on the income statement capture the company’s financial performance during the reporting period. Here are…
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Don’t be a victim of tax identity theft: File your 2017 return early
The IRS has just announced that it will begin accepting 2017 income tax returns on January 29. You may be more concerned about the…
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Got multiple locations? Expect auditors to keep a close eye on inventory
Do you remember the high-profile fraud that happened at drugstore chain Phar-Mor in the 1990s? Executives manipulated the company’s financial statements to hide approximately…
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Strong Internal Controls Help Reduce Restatements
A recent study has found that fewer public companies are reissuing financial statements due to errors or omissions, in large part due to stronger…
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Reasons to Outsource Payroll and Obtain a Service Audit Report
With Labor Day starting out this week, it’s a good time to focus on how your business pays employees. Payroll reporting doesn’t have to…
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Put your income statement to good use
By midyear, most businesses that follow U.S. Generally Accepted Accounting Principles (GAAP) have issued their year-end financial statements. But how many have actually used…
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Timeliness counts in financial reporting Timeliness counts in financial reporting
Do you procrastinate when it comes to closing your books and delivering year-end financial statements? Lenders and investors may think the worst if a…