You may be noticing a change in the appearance of your company’s financial statements. On October 23, 2014, the Accounting Review Service Committee issued Statement on Standards for Accounting and Review Services (SSARS) No. 21, Statement on Standards for Accounting and Review Services: Clarification and Recodification. SSARS 21 is effective for reviews, compilations and engagements […]
Archives for July 2015
IRS Updates Identity Theft Policies
After a security breach during the 2015 tax season, the IRS has decided to change its policy regarding identity theft and disclosure of information from fraudulent returns. Previously, the IRS refused to release information from fraudulent returns to the taxpayer affected citing privacy concerns. After receiving pressure from the U.S. Senate , the IRS has […]
Avoid Business Fraud
Many small businesses have the luxury of a close knit group of employees. Despite trusting one another, it is important to take necessary steps to prevent fraud and embezzlement from becoming a temptation or reality. According to the Chamber of Commerce, fraud or embezzlement costs small businesses between $20 and $40 billion dollars each year, […]