Today's World of Audits

Posted by cpapastr on Aug 11 2009 53517 printer friendly

by Larry Perry, CPA, CPA Firm Support Services, LLC - Larry has over 40 years experience as a CPA practitioner, author of accounting and auditing manuals, author and presenter of live staff training seminars and author of webcast and self-study CPE programs. He is co-founder of CPA Firm Support Services, LLC (www.cpafirmsupport.com), an organization providing resources, training and consulting to smaller CPA firms. Larry writes a weekly blog on AccountingWEB.com focusing on small audits, reviews and compilations. He is currently developing documentation manuals and handbooks for small audits, reviews and compilations and related electronic practice aids.

Latest posts

Aug

The Tradition of Over-Auditing

Growing up in the CPA profession I was taught that auditors performed tests of controls so they could reduce detailed tests of balances.

Aug

The Income Tax Management Method of Inventory Valuation Is Not GAAP!

Over the years, I’ve been asked if it is appropriate to estimate the value of inventories for tax returns and compilation and review engagements. At one point, I was asked the question so often I looked for my intermediate acco

Aug

Are You Performing Non-Attest Services that Impair Independence?

Whenever we perform non-attest services on audits and reviews, we've learned that management must assign a person with suitable skill, knowledge and experience to review, accept and take responsibility for our work.

Jul

Chances are Your Receivables Confirmation Process is Not Valid!

Since the issuance of SAS No. 31 and its successor, SAS No.

Jul

Do We Have to Audit Cash?

Most of us would quickly respond with a profound "yes" in answer to the title question. After all, cash is highly susceptible to misappropriation and falsifying cash disbursements is the means for perpetrating and covering

Jul

Lessons Learned from Real World Frauds

Located in an extinct volcano basin at 9,000 feet in the Rocky Mountains is a small town I'll call "Gold Mine City."

Jun

Watch Out for Fraudulent Revenue Recognition!

When it comes to fraud, there is little new under the sun. We can be assured that in times of economic downturn, fraud will increase. Misappropriation of assets increases and financial misrepresentation increases.

Jun

Want to Become the Biggest Loser?

To be a winner and make more money in our A&A practice, we must be the biggest loser! I'm talking about weight, not physical weight but those unnecessary traditions, ways of doing things and clients we carry around every day!&nbs

Jun

Can a Sole Practitioner Meet Quality Control Standards?

The AICPA apparently believes a sole practitioner can comply with quality control standards for an accounting and auditing practice. In its practice aid, Establishing and Maintaining a System of Quality Control for a CPA Firm's A

Jun

How Can A Small Practitioner Survive?

Let me count the ways! More than just survive, it's time for the small CPA firm to prosper! First, let's take a brief look at the times.

Featured blogs

View from a Tea Cup

Steve Knowles has spent 25 years in business and practice in the UK, but he also worked in the states and the years haven't dulled his way of seeing an alternative view to everyone else, and every day is a new adventure.

19820

Ungar Cover

Joel M. Ungar, CPA is a lifelong resident of the Detroit area and a graduate of The University of Michigan. He is a principal with Silberstein Ungar, PLLC, a Top 15 auditor of SEC public reporting companies.

47414

Truth be told about business development

Allan Boress, CPA, with over 25 years as a practitioner and consultant to the accounting profession. Mr. Boress is the author of 12 published books in 6 different languages, including a best-seller, The "I-Hate-Selling" Book.

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Today's World of Audits

Larry Perry, CPA, CPA Firm Support Services, LLC, is the author of accounting and auditing manuals, author and presenter of live staff training seminars, and author of webcast and self-study CPE programs. He blogs about small audits, reviews, and compilations.

53517

The Talent Advantage

Sandra Wiley, COO and Shareholder, is ranked by Accounting Today as one of the 100 Most Influential People in Accounting as a result of her prominent role as an industry expert on HR and training as well as influence as a management and planning consultant. She is also a founding member of The CPA Consultant's Alliance. Sandra is a certified Kolbe™ trainer who advises firms on building balanced teams, managing employee conflict and hiring staff.

615

The HR Connection

Maria Calabrese, CIR, Human Resources manager for Fazio, Mannuzza, Roche, Tankel, LaPilusa, LLC in Cranford, New Jersey, Maria's topics revolve around the world of: Mentoring, Performance management, and The "Y Generation," a.k.a. "The whY generation".

30733

The Barefoot Accountant

William Brighenti is a CPA, Certified QuickBooks ProAdvisor, and Certified [Business] Valuation Analyst, operating an accounting, tax, and QuickBooks consulting firm in Hartford, Connecticut, Accountants CPA Hartford.

50822

TechWise

Ken Garen, CPA, is the co-founder and President of Universal Business Computing Company (www.ubcc.com), a software development firm of high-volume, high-productivity accounting and payroll technology.

6266

Talk to TaxMama

Eva Rosenberg, MBA, EA, is the publisher of TaxMama.com, and author of the weekly syndicated Ask TaxMama column. She provides answers to tax questions from taxpayers and tax professionals worldwide.

37597

Success in the Cloud

Amy Vetter, CPA, CITP is the CPA Programs Leader for Intacct Corporation responsible for leading the CPA/BPO Partners nationally.

14515

State and Local Tax 360˚

My name is Brian Strahle and I hope you find this blog informative and useful. I am a multistate tax consultant and I serve clients across the U.S. from my office in Washington D.C. For more info, visit my website: www.leveragestateandlocaltax.com

68005

PR Matters

Scott H. Cytron, ABC, is president of Cytron and Company, known for helping companies and organizations improve their bottom line through a hybrid of strategic public relations, communications, marketing programs and top-notch client service. An accredited consultant, Scott works with companies, organizations and individuals in professional services (accounting, finance, medical, legal, engineering), high-tech and B2B/B2C product/service sales.

3833

Possibilities For CPA Firm Management

Rita Keller is a nationally known CPA firm management consultant, speaker, author, mentor and blogger. She has over 30 years hands-on experience in CPA firm management, marketing, technology and administrative operations.

24775

Pajama Work: QuickBooks, Technology & the Cloud

Stacy Kildal is the mom of two fantastic kids, an Advanced Certified QuickBooks ProAdvisor, Certified Enterprise Solutions ProAdvisor, Sleeter Group Certified Consultant, a nationally recognized member of the Intuit Trainer and Writer Network, and co-host of RadioFree QuickBooks.

6884

Michael Alter's Dollars and Sense

Michael Alter's blog specializes in providing practical advice to those who seek greater profitability and practice management tactics that enhance deeper client relationships.

7297

Marketing Today and Tomorrow

Sally Glick, CMO, Principal, Marketer of the Year in 2003 and AAM Hall of Famer in 2007, leads a lively discussion of the constantly expanding roles of marketing and the professional marketers that drive this initiative in accounting firms of all sizes.

62750

IMA Young Accounting Pros

The IMA Young Professionals Blog features the insights of IMA’s Young Professionals Committee. Committee members share advice and experiences on careers, continuing education, work/life balance, and other issues affecting young accounting and finance professionals.

11920

Gail Perry - Voice of the Editor

Gail Perry is Publisher at Sift Media US, Inc. and oversees the content on the Sift websites, AccountingWEB.com and GoingConcern.com. She has been the editor-in-chief at Sift Media US since 2007, overseeing the content on AccountingWEB.

40831

FEI

FEI Financial Reporting Blog provides highlights from SEC, PCAOB, FASB, IASB, and other regulatory news, including reporting under Sarbanes-Oxley Sect 404. It is written by Edith Orenstein, Director of Technical Policy Analysis at FEI.

72423

Continuing Education

Sue Anderson has 30 years of experience in continuing education for accountants. Currently she is the program director for online CPE provider CPE Link.

31648

CentsLess: Wise CPA Firm Spending

Jim Fahey is COO of Apple Growth Partners, a regional CPA firm in Ohio. His focus is on the effective and efficient use of technology within the firm by all team members.

18747

Auditing Yellow Book Style: Government Auditors Unite!

Leita Hart-Fanta, CPA, CGFM, and CGAP is the author of "The Yellow Book Interpreted" and owner of Yellowbook-CPE.com a website devoted to training for governmental auditors.

57944

Across the Pond

AccountingWEB is more than just a U.S. team of journalists and financial and technology experts - we have an international side, too! Members of our British team who publish AccountingWEB.co.uk share their ideas, insights, and perspectives from across the pond.

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