Auburn-Opelika (334) 887-7022 | Montgomery (334) 244-8900

Returning Value Blog

Internal Audit 2.0: Paperless and Continuous Auditing Trends

Posted by Aaron K. Waller, CPA on Oct 09, 2019

Technology is altering the traditional approach to internal audits. Instead of reviewing reams of paperwork, today’s auditor is learning to use electronic records. In turn, going paperless facilitates a concept known as “continuous auditing,” where internal auditors continually gather data to support their procedures. Here’s how your business can modernize this process.

Full Story

Posted in Audit & Assurance

Why Do Companies Restate Financial Results?

Posted by Aaron K. Waller, CPA on Sep 20, 2019

Every year, research firm Audit Analytics publishes a study about financial restatement trends. In 2018, the number of public companies that amended their annual reports increased by 18%.

Full Story

Posted in Audit & Assurance

The Untouchables: Getting a Handle on Intangibles

Posted by Jessica L. Pagan, CPA on Sep 18, 2019

The average company’s balance sheet understates its value by 80%, according to Sarah Tomolonius, co-founder of the Sustainability Investment Leadership Council. Why? Intangible assets aren’t recorded on the balance sheet under U.S. Generally Accepted Accounting Principles (GAAP) unless they’re acquired from a third party.

Full Story

Posted in Audit & Assurance

Corporate Governance in the 21st Century

Posted by Marty Williams, CPA on Sep 12, 2019

What’s the purpose of a corporation? For the last 50 years, the answer was “to maximize shareholder value.” But, on August 19, CEOs of 181 leading U.S. businesses, including Amazon, Apple, General Motors and Walmart, pledged to broaden the scope.

Full Story

Posted in Audit & Assurance

Auditing Grant Compliance

Posted by Melissa Motley, CPA on Sep 06, 2019

Has your organization received any public or private grants to fund its growth? Grants sometimes require an independent audit by a qualified accounting firm. Here’s what grant recipients should know to help facilitate matters and ensure compliance at all levels.

Full Story

Posted in Audit & Assurance

What to Expect During a Franchise Audit

Posted by Michael D. Machen, CPA, CVA on Aug 21, 2019

It’s important for franchisors to periodically audit individual franchisees. These routine “check-ups” are especially valuable in a store’s early years of operations or if performance starts to deteriorate. They can be used to detect symptoms of unhealthy performance and treat problems before they spiral out of control.

Full Story

Posted in Audit & Assurance

How Auditors Use Nonfinancial Information

Posted by Aaron K. Waller, CPA on Jun 18, 2019

Every financial transaction your company records generates nonfinancial data that doesn’t have a dollar value assigned to it. Though auditors may spend most of their time analyzing financial records, nonfinancial data can also help them analyze your business from multiple angles.

Full Story

Posted in Audit & Assurance

AUP Engagements: A Middle Ground Between Audits and Consulting Services

Posted by Melissa Motley, CPA on Jun 10, 2019

Your CPA offers a wide menu of services. An audit is a familiar type of attestation service that provides a formal opinion about whether the company’s financial statements conform to U.S. Generally Accepted Accounting Principles (GAAP).

Full Story

Posted in Audit & Assurance

Comparing Internal and External Audits

Posted by Aaron K. Waller, CPA on May 10, 2019

Businesses use two types of audits to gauge financial results: internal and external. Here’s a closer look at how they measure up.

Full Story

Posted in Audit & Assurance

Lean Manufacturers: Reap the Benefits of Lean Accounting

Posted by Melissa Motley, CPA on May 07, 2019

Standard cost accounting doesn’t necessarily work for lean operations. Instead, lean accounting offers a simplified reporting alternative that generates more timely, relevant financial data. But it’s not right for every situation.

Full Story

Posted in Audit & Assurance

Recent Posts

Returning_Value