by Controllers Council | Jan 25, 2021 | Audit, Technology
With auditors increasingly worried about reputation damage from taking on a high-risk client, some companies are facing a no-win situation in their future. This according to the Financial Times creates a circular problem—high-risk companies are having trouble finding...
by Controllers Council | Jan 15, 2021 | Audit
The last year has likely put a strain on your business. Financially, strategically, and more, controllers across the US have looked for ways to cut down on costs to keep the business afloat. One way that companies may look to save a few dollars is by opting for a...
by Controllers Council | Dec 28, 2020 | Audit, Tax
From the increasing complexity of the tax code to the dangers that you expose yourself to in the event something goes wrong, tax planning represents a significant cost and a challenge for both companies and individuals. Worse yet, all this happens before you have to...
by Controllers Council | Dec 14, 2020 | Audit, Tax
It’s rare to see the IRS announce something that benefits taxpayers, but it’s 2020—weirder things have happened. In a recent notice, Notice 2020-75, the IRS announced an important lifeline for partnerships and S-corps allowing these entities to deduct state and local...
by Controllers Council | Aug 26, 2020 | Audit
Just because state and local governments have shut down your business doesn’t mean that you can take a break on assurance. Auditors have stepped up their skills and have worked hard to improve the audit process, and a recent initiative by the Center for Audit Quality...
by Controllers Council | Jul 31, 2020 | Audit, Legislation
Hailed as one of the biggest changes to accounting in decades (or at least since ASC 606), The Lease Accounting Standard, also known as ASC 842 was a marked change in the way that leases are reported. According to a recent report from LeaseQuery and Encoursa, the move...
