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What To Expect During a Franchise Audit

What To Expect During a Franchise Audit

It’s important for franchisors to periodically audit individual franchisees. These routine “check-ups” or franchise audits 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...
FAQs about CAMs

FAQs about CAMs

In July, the Public Company Accounting Oversight Board (PCAOB) published two guides to help clarify a new rule that requires auditors of public companies to disclose critical audit matters (CAMs) in their audit reports. The rule represents a major change to the brief...
Let’s Find A Better Way To Manage Your Receivables

Let’s Find A Better Way To Manage Your Receivables

Failure to collect accounts receivable (AR) in a timely manner can lead to myriad financial problems for your company, including poor cash flow and the inability to pay its own bills. Here are five effective ideas to facilitate more timely collections: 1. Create an AR...
Attention: Accounting Rules Delays in the Works

Attention: Accounting Rules Delays in the Works

On July 17, the Financial Accounting Standards Board (FASB) voted to issue a proposal that would delay several landmark accounting rules for certain companies. If finalized, the deferral would apply to new guidance for reporting leases, hedging transactions, credit...
Why Do Companies Restate Financial Results?

Why Do Companies Restate Financial Results?

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%. Many of these amendments were due to minor technical issues, however. Of the 400...
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