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Assurance and Advisory Article Library

Assurance and Advisory Articles

How To Opt Out of the New Partnership Audit Rules

How To Opt Out of the New Partnership Audit Rules

Many real estate businesses are formed as partnerships, and, beginning this year, the IRS is applying new procedures to its partnership audits. Under the procedures, any adjustments and penalties after an audit generally will be assessed against the...

Compilation, Review or Audit: Select the Right Level of Assurance

Compilation, Review or Audit: Select the Right Level of Assurance

The term “assurance” refers to how much confidence lenders and other stakeholders have that a company’s financial statements will be reliable, informative and in conformity with U.S. Generally Accepted Accounting Principles (GAAP) or another financial...

Put Your Audit in Reverse to Save Sales and Use Tax

Put Your Audit in Reverse to Save Sales and Use Tax

It’s a safe bet that state tax authorities will let you know if you haven’t paid enough sales and use taxes, but what are the odds that you’ll be notified if you’ve paid too much? The chances are slim — so slim that many businesses use reverse audits to find...

Choosing a 401(k) Auditor

Choosing a 401(k) Auditor

By Chris Bunker, Senior Staff Accountant War for talent is fierce. Unemployment in the United States stood at 4.9% in January 2016. Although that seems low, if you’re competing for highly skilled employees, you know it feels more like 1.0% (or lower). Whether the...

Hidden Message in Your Financial Statements

Hidden Message in Your Financial Statements

by Susan Levinstein, CPA, Partner | Accurate financial statements provide useful insights into a company’s performance. These reports help owners and  management make operational decisions, enable creditors to evaluate loan applications, and provide...

Key Steps to Prevent Fraud

Key Steps to Prevent Fraud

by Susan Levinstein, CPA, Partner | As companies globally continue to slog through a challenging economy, they’re also fighting the specter of fraud. Here’s an eye-opening statistic fighting the specter of fraud. Here’s an eye-opening statistic: A typical...

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