Today's World of Audits
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
Sep
13
The Measurement Process Three steps are necessary:
Sep
04
UNDERSTANDING DIFFERENCES BETWEEN BOOK AND TAX INCOME
Basic Principles of Accounting for Income Taxes
The basic principles of accounting for income taxes are:
Aug
15
For most small to medium-size entities, auditing procedures will include the scheduling and calculating of deferred income tax expense, deferred tax assets and deferred tax liabilities.
Aug
06
For accounts payable, an entity’s accounting and internal control system over purchases, payables and cash disbursements will affect the nature, extent and timing of tests of balances procedures. Larger entities will normally h
Jul
26
To illustrate the audit program modification process based on the assessed level of risk of material misstatement, following are possible basic procedures for accounts payable at three levels of risk of material misstatement, 1) high, 2) slightly less than high and 3) low to moderate.
Jul
19
Risk and Accounts Payable
Jul
05
Learning “how” to audit accounts payable begins with a focus on the completeness assertion. Understatement of accounts payable results in understatement of related expense or asset accounts.
Jun
22
For most entities, auditing procedures for goodwill, intangibles and deferred charges will be performed during tests of balances.
May
14
For most small to medium-size entities, internal controls over fixed assets will usually be few in number. On the other hand, limiting the authority for making purchases and disposals of fixed assets to the owner, manager, presid
