Financial Reporting

Financial Reporting Implications of COVID-19

As organizations monitor the current and potential effects of COVID-19 on their activities, they should also consider the implications on their year-end financial reporting processes. Specifically, organizations should consider the following areas of concern in preparing financial statements. Risk Assessments: Organizations should evaluate the impact of changing circumstances on their assessments of risks inherent in [...]

Natural Disasters Can Affect Your Financial Statement, Too

Natural disasters can have financial implications for business owners over months, years, and even decades. Companies are expected to follow regulatory guidelines in all circumstances, including — and especially — in the aftermath of a natural disaster. Although the expectations are plainly written into the guidance, many companies are unfamiliar with the key points. Four [...]

Elevate Your Audit Committee: 5 Topics for 2019 Agendas

Audit committees play a vital role in overseeing the integrity of financial reporting. But in today’s shifting risk landscape, is your audit committee paying attention to the right things? Most audit committees are effective at executing their core responsibilities, such as selecting and overseeing the independent auditor. Optimizing your audit committee, rather than falling prey [...]

2020-06-18T14:48:50-05:00June 19th, 2019|AUDITS, REVIEWS & COMPILATIONS|

Is Your Bank’s Audit Committee Reaching the Summit of their Potential?

Just as a mountaineer needs a well-trained glacier team to reach the summit of Everest, community banks need effective audit committees to be successful in today’s challenging and changing regulatory and accounting environment. Audit committees provide needed oversight in the areas of risk management and financial reporting. An engaged audit committee is an important attribute [...]

2018-11-12T15:43:34-06:00December 12th, 2017|FINANCIAL INSTITUTIONS|

4 Simple Solutions to Improve Financial Reporting Timeliness without Breaking the Bank

In today’s world of 24/7 news channels, social media, and the web, breaking news is the standard. Can you imagine voting for the President based on three-month-old information? Unfortunately, many organizations make critical management decisions without current financial statements and should therefore work to improve financial reporting timeliness. Even the best accounting departments struggle to report [...]

2018-11-12T15:51:01-06:00September 15th, 2015|CLIENT ACCOUNTING SERVICES|