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...
by Controllers Council | Jul 13, 2020 | Audit
As we discussed in an earlier article, technology has become a core portion of the audit, and the AICPA had been considering standards to reflect the evolution. New technologies have popped up over the past decade that have made audits easier in some regards, more...
by Controllers Council | Jul 2, 2020 | Audit, Professional Growth
Audits are important. They help you understand that everything is going smoothly, keep you in check, and ensure that the company isn’t going to end up in trouble if a government agency ends up auditing you. Understandably, as a current or aspiring controller, you...
