As recent natural and man-made disasters have made clear, CPAs are frequently required to prepare a business interruption insurance claim for their clients. In addition,…
Personal Disaster Recovery Plans
Helping Individuals when Tragedy Occurs
Fire, flood, or sudden departure of key personnel can all wreak havoc on a business, and CPAs routinely advise business clients to prepare disaster recovery…
OVDP and the IRS’s New Streamlined Filing Procedures
Look Before You Leap
The IRS's Offshore Voluntary Disclosure Program (OVDP) is designed to assist U.S. taxpayers who have failed to properly report or pay income taxes on offshore…
IRS Schedule UTP and the Legal Privileges of Tax Accrual Workpapers
Understanding the Risks for Auditors
The implementation of the Schedule UTP contributes perhaps the most significant increase in tax reporting in recent memory and will greatly affect the Service's audits…
Using Network Analysis to Detect Collusive Fraud
Could Notorious Fraudsters Have Been Caught in the Act?
Collusion takes place when management, employees, or third parties work together to conceal fraud, thereby defeating the internal controls and rendering them ineffective. Analysis of…
ICYMI—The Reporting Impact of ASU 2016-14
Painting the Picture from a Nonprofit’s Financial Perspective
In Brief The nonprofit landscape has changed significantly over the past 26 years, expanding in size and scope while facing new challenges and keeping up…