|
Dispelling the Myth That a SOC Report is Merely a Checkbox
February 9, 2012
Rob Busch
Some companies believe that once a SOC 1, SOC 2 or SOC 3 report is issued and in their customer’s hands, the box can be checked and the report can be filed away in a drawer to be forgotten. This perception couldn’t be further from the truth. [...]
Read more 1 comment(s)
|
|
Will the U.S. Adopt Global Accounting Standards?
January 10, 2012
Tracy Curley
If you read MFA’s recent Financial Reporting Alert, SEC Issues Two Staff Papers on Work Plan Convergence of Global Accounting Standards, there are a few key points worth noting.
Read more 0 comment(s)
|
|
BESP - Have You Made Your List and Checked It Twice?
December 21, 2011
Pamela Sintros
If not, you may find the new rules are a bit naughty and not so nice …
Effective, January 1, 2011, both public and privately-held companies are required by the FASB to use [...]
Read more 0 comment(s)
|
|
Is XBRL More Than Just a Compliance Expense?
October 19, 2011
Tracy Curley
With XBRL (eXtensible Business Reporting Language) now in its third phase of implementations, nearly all public companies using U.S. GAAP are now required to submit data in the fully searchable, digital format. [...]
Read more 0 comment(s)
|
|
Tips for Nonprofit Audit Committees
October 5, 2011
Christine Schneider
In last week’s post, What Makes a Great Audit Committee?, I suggested some criteria to consider when selecting or evaluating the members of an audit committee.
Read more 0 comment(s)
|
|
What Makes a Great Audit Committee?
September 28, 2011
Christine Schneider
Your audit committee can serve as a powerful tool for your company, and its potential to do so is determined by the expertise of the individuals that comprise it. [...]
Read more 0 comment(s)
|
|
The 5 Principles of a SOC 2 Report
September 21, 2011
Matt Pettine, MFA Cornerstone Consulting
The new SOC (Service Organization Control) 2 reports provide information and assurance relating to a service provider’s non-financial control environment and are most commonly based upon a combination of one or more of the Trust Services Principles.
Read more 0 comment(s)
|
|
Disclosing Your Tax-Exempt Information
August 17, 2011
Christine Schneider
When your tax-exempt organization receives a request for inspection of its federal filings – Form 990 or 990-EZ, 990-T if applicable and its application for tax exemption – do you know how to respond? [...]
Read more 0 comment(s)
|
|
Internal Controls Assessments: You Have Now Reached a Comfortable Cruising Altitude
July 27, 2011
Lisa Whittemore, MFA Cornerstone Consulting
When a business is first founded, the President has their hand in each and every business process. They make the widgets. They sell the widgets. They collect the cash for the widgets.
Read more 0 comment(s)
|
|
Impaired or Not Impaired: That is the Question
July 6, 2011
Mike Piessens
Do you have the intangible asset “Goodwill” sitting on your books from previous business combination transactions?
Read more 0 comment(s)
|
|
10 Steps to Prepare for a SOC Report Audit
June 6, 2011
Rob Busch, Michelle Mackey and Matthew Pettine
A Service Organization Control (SOC) report can help your company meet requests you receive from your clients on behalf of their auditors, gain a competitive edge, and benchmark against best practices. [...]
Read more 0 comment(s)
|
|
Leveraging Controls for 3rd Party Assurance Reports
May 2, 2011
Joseph Landry
Have you been contemplating obtaining a service auditor’s report in order to meet the assurance needs of your customers and/or your customer’s auditors? [...]
Read more 0 comment(s)
|
|
AICPA SOC Reports – Now That’s a Big Deal!
March 30, 2011
Rob Busch
In my November 2010 blog post on the demise of the SAS 70 standard (“SSAE 16 to Supersede SAS 70 Standard – What's the Big Deal?”), [...]
Read more 0 comment(s)
|
|
Small Companies May Get SOX Audit Relief
November 23, 2009
Will Andronico
On the heels of a study that points out the imbalance in proportionate costs for small companies to comply with SOX, Accounting Today reports that The House Financial Services Committee voted that small and midsized public companies should be exempt from Sarbanes-Oxley audit requirements.
Read more 0 comment(s)
|
|
Small Companies Paying Big Price for SOX Audits
October 8, 2009
Travis Drouin
The anecdotal evidence was already there, but now the hard numbers are in from an SEC report that proves smaller companies are paying a disproportionately high cost to comply with Sarbanes Oxley.
Read more 0 comment(s)
|
|
SEC Says No SOX Delays for Small Companies, But Extends SOX Survey Deadline
January 29, 2009
Peet Rapp
Last week, new SEC head Mary Schapiro made it clear that small companies will have to comply with SOX.
Read more 0 comment(s)
|
|
Stock Option Valuation: 409A, Fair Value and Audit Prep
June 30, 2008
Will Andronico
From 409A to audits, independent valuations are a popular topic of discussion these days…and for good reason. They can make all the difference in defending your position – and that of portfolio companies – with the IRS and financial statement auditors.
Read more 0 comment(s)
|