The determination of classifying a worker as an employee or an independent contractor has always been a manner of debate for many professionals. While it would seem like that there should be a cut-and-dried system for making this determination, the reality is that the method of determination has always been slightly vague and confusing. On […]
Forensic accounting is a specialized area of accounting that deals with investigating frauds and uncover financial crimes. It is the responsibility of forensic accountants to examine questionable financial data, investigate fraud, bribery, money laundering, and help in civil and criminal investigations by looking deep into financial data, assets, and financial transactions. Forensic accountants may also […]
With the global spread of novel coronavirus (COVID-19) the societal impact of the pandemic is reshaping the way businesses operate. It has changed conference events from in-person to different online alternatives. Different companies and professionals have been experimenting variety of platforms and methods to cater to the training and other needs of professionals and clients. […]
Not-for-profit (NFP) organizations have faced their own set of struggles while dealing with the coronavirus. While there are some common struggles among all companies tasked with operating during the coronavirus, NFP organizations have been uniquely affected. The proper reporting of both going concern and subsequent events as well as coronavirus assistance and relief are audit […]
Americans are experiencing unemployment fraud as they started to receive documents for calculating their taxes. These scams have increased with the rise in unemployment due to the COVID-19 pandemic. Scammers are using stolen names and personal information for filing and receiving unemployment benefits. This fraud is affecting people who have lost their jobs and is […]
The coronavirus has added several challenges for those performing single audits for clients with the primary challenge being how to deliver a quality audit to the client in a timely manner. In December 2020 the Office of Management and Budget (OMB) released the newest addendum to the Compliance Supplement and this addendum addressed how to […]
With the growth in demand for education in both academic and industrial structures, there is also demand for flexibility to integrate continuous learning in day-to-day life. This demand has resulted in implementing new learning and teaching techniques like distance learning. Unlike early days when distance learning was sending study materials via posts and taking exams […]
Statement on Auditing Standards No.136 (SAS 136), Forming an Opinion and Reporting on Financial Statements of Employee Benefit Plans Subject to ERISA (Employee Retirement Income Security Act of 1974), addresses issues related to the quality of the independent audit work done on employee benefit plan audits. These issues were brought to the attention of the AICPA […]
Digital transformation and change management involve multiple components and each has to be arranged in a way that could lead to achieving the goals successfully. Forward-thinking leaders realize that the first step towards improving competitive advantage is to digitally transform their corporate training program. Mostly overlooked, one of the most important elements in digital transformation […]
After a full year of COVID-19 related restrictions, many employees have deferred the usage of their vacation and sick days. Because companies must account for the possibility of these hours being used in the future, it is likely that the compensated absences liability will be substantially larger for 2020 than in previous years. Compensated absences […]
