Organization development is a process of a planned and systematic approach that helps organizations identify problems, build their capacity to change and improve their effectiveness. It is an evidence-based process that uses scientific findings for creating a process that is structured, controlled, and tested. Like many other process improvement methodologies, the organization development process follows […]

As the COVID-19 pandemic continues to have rippling effects on all businesses, no matter the size or strength, it is imperative that companies stay committed to minimizing fraud in its organization.  Staying ahead of fraud can require extra resources for companies, in both time and money, and many companies are operating with reduced resources and […]

Many types of fraudulent activities occur within the day-to-day business operations of a company.  Locating these activities and stopping them after they have occurred can be extremely costly for a company.  It is more cost-effective for a company to mitigate the fraud risks before they happen by being aware of the most common fraud schemes […]

Bookkeeping is the process of recording and keeping track of the financial transactions of a business. It gives an in-depth look at the expenses and revenues of a business and helps business owners to get on the path to transform business and to capitalize. The process includes recording documents like bills, receipts, invoices, purchase orders, […]

Payroll refers to the compensation and other benefits paid to the employees of a company for the services they provide during a certain period of time. It is the process that is used for calculating, recording, managing, and analyzing employee compensation.  Payroll processing is an important function of any company or an organization as it […]

The latest federally-sponsored, pandemic-related financial relief plan has been targeted to assist those in the food and beverage industry get back on their feet.  This relief plan is called the Restaurant Revitalization Fund (RRF) and it is sponsored by the U.S. Small Business Administration (SBA).  It was established as part of the American Rescue Plan […]

The Public Company Accounting Oversight Board (‘PCAOB’ or ‘Board’) is a non-profit organization that regulates the auditors of publicly traded companies.  The PCAOB was established as part of the Sarbanes-Oxley Act of 2002 (SOX), which was passed to provide protection to investors and stakeholders of public companies after the significant number of accounting scandals in […]

Auditors are professionals who examine and report on financial statements. They review and evaluate companies’ financial statements provided to them by the accounting team. Besides analyzing the books for quality, they also check for mismanagement of companies’ funds. Auditors may also offer advice on efficiency, as well as financial and data risks and controls. As […]

Artificial intelligence (AI) is quickly becoming a feature of many enterprises’ daily operations, with AI chatbots and product recommendation engines already in use. Major accounting firms are now acknowledging how artificial intelligence is transforming the corporate accounting profession, committing to invest billions of dollars in artificial intelligence and data analytics research and development. Not only […]

The role of an internal auditor is to carry out an independent appraisal of how a company operates, its processes, and the risks that may affect the company.  Internal audits evaluate a company’s internal controls, including its corporate governance and its accounting processes.  These audits check for compliance with laws and regulations and identify problems […]