CFO Share

NOVEMBER 15, 2023

Embarking on your first financial audit can be nerve-wracking. This article includes small business accounting tips to prepare for an audit while minimizing its expenses and findings. An audit evaluates: Compliance with accounting standards (GAAP or IFRS.) Risks of fraud or non-compliance.

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E78 Partners

SEPTEMBER 21, 2023

Audits, while essential for maintaining the integrity and trustworthiness of an organization’s financial reporting, can be a daunting task. This is not just because of the intricacies and specificities required by the auditing standards but also due to the numerous challenges faced by organizations in the run-up to an audit.

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Auditing General Ledger Reconciliations Accounting Standards 52

The Charity CFO

NOVEMBER 30, 2023

Does the idea of an audit from the IRS leave you with sweaty palms? Most nonprofit leaders aren’t accountants and the thought of getting audited is a sizable fear. Luckily, being prepared can help you avoid accounting mistakes that could come up in a nonprofit audit.

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Nonprofit Auditing Compliance Accounting 52

CFO Leadership

OCTOBER 10, 2023

How to use AI in Finance & Accounting As we look to the future, the role of AI in finance will likely expand. AI driven automation is expected to extend to more complex tasks such as, audits, risk management, and financial planning and analysis. For instance, could financial statements generated by ChatGPT withstand audit scrutiny?

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Bramasol

MARCH 24, 2022

This important issue was previously explored last year in Are You Ready for "Carbon Accounting" Compliance? A subsequent blog post specifically addressed How Can Carbon Accounting Impact the Value of M&A Deals? For more details, read the SEC fact-sheet Enhancement and Standardization of Climate-Related Disclosures.

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PYMNTS

JANUARY 10, 2019

Today, external auditors and accountants are facing rising pressure to mitigate risk amid market volatility, with analysts pointing to increased auditing fees last year as accounting standards tighten.

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Finance Risk Management Auditing Accounting Standards 74

Future CFO

NOVEMBER 2, 2020

China is the most complex jurisdiction for financial compliance in Asia Pacific while Hong Kong is the easiest, said TMF Group recently. Many jurisdictions are moving towards international accounting standards such as International Financial Reporting Standards (IFRS) and US Generally Accepted Accounting Principles (GAAP).

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Compliance IFRS GAAP Accounting Principles 40

The Charity CFO

APRIL 13, 2023

In order to successfully manage the financial health of your nonprofit organization, here are 7 key concepts you should understand: Compliance and Audit Requirements Compliance is the act of ensuring the public that nonprofits are abiding by the rules that allow them to take advantage of tax exempt status and other financial incentives.

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Nonprofit Accounting Standards Compliance Budgeting 52

Beacon CFO Plus

NOVEMBER 30, 2023

Define Roles and Responsibilities: The CFO typically focuses on financial strategy, planning, and management, while the accounting firm handles compliance, audits, and financial reporting. The CFO should work closely with the accounting firm to provide the necessary information for audits and reporting.

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VCFO

NOVEMBER 1, 2023

Assessing Accounting For entities preparing GAAP compliant financial statements, adoption of Revenue Recognition Standard (ASC 606) and Lease Accounting Standard (ASC 842) is now mandatory. Read more in our blog about Lease Accounting Updates.) audited or reviewed financial statements).

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Finance Strategic Planning Auditing CFO 88

PYMNTS

FEBRUARY 14, 2019

Along with regulatory action from tax reform and tougher Know Your Customer (KYC) rules adding the pressure of complex red tape, public companies need to add one more compliance concern to their list: changes to accounting standards by the Financial Accounting Standards Board (FASB). “In many ways, they are.”

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The Charity CFO

DECEMBER 8, 2022

The IRS has strict regulations on how to handle grants and charitable contributions, so it is essential that you understand the best practices when accounting for them. Because accurate nonprofit accounting can help with reporting and auditing requirements, and ensure that the funds are being used in accordance with the grantor’s wishes.

Accounting 52

Accounting Nonprofit Auditing Compliance 52

CFO Leadership

OCTOBER 18, 2023

How to use AI in Finance & Accounting As we look to the future, the role of AI in finance will likely expand. AI driven automation is expected to extend to more complex tasks such as, audits, risk management, and financial planning and analysis. For instance, could financial statements generated by ChatGPT withstand audit scrutiny?

Accounting 52

Accounting Finance Auditing IFRS 52

CFO Share

MARCH 14, 2022

What is the difference between a quality of earnings report and an audit? Audited financial statements focus on compliance with GAAP accounting standards, whereas Quality of Earnings reports focus on the company’s earnings history and potential.

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Auditing GAAP Accounting Principles Profit and Loss 52

Fpanda Club

SEPTEMBER 2, 2021

Both functions are essential in the organization as accounting is supposed to ensure accurate records and data which can be further analyzed by the FP&A team to generate valuable insights and support strategic and operational decisions.

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https://trustedcfosolutions.com/feed/

APRIL 5, 2023

Allows user-defined workflows to improve efficiency, compliance, and transparency, providing consistent audit trail visibility. Identifies variances and anomalies that don’t comply with accounting standards with intuitive dashboards and reports that work based on your preset conditions.

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Spreadym

AUGUST 10, 2023

When choosing the best financial reporting software solution, it's important to consider factors such as ease of use, scalability, integration with existing systems, compliance with accounting standards, cost, customer support, and any unique requirements your organization might have.

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Financial Reporting Financial Planning and Analysis (FP&A) Accounting Standards CFO 52

PYMNTS

JULY 6, 2018

Reports in the Australian Financial Review said the Australian Securities and Investments Commission (ASIC) has reviewed 2017 statements of 90 corporates in the country to assess their compliance to new accounting rules that came into effect on Jan. In its assessment, the ASIC also concluded that some audit reports were too vague.

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Accounting Auditing Accounting Standards Compliance 41

The Finance Weekly

OCTOBER 31, 2021

Many of the same financial issues that profit-seeking enterprises face, such as increasing revenue, managing audits, and dealing with compliance, encounter non-profit organizations (NPOs). This could imply more efficient auditing via online financial software that allows for remote audits. Master the basics of accounting.

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Planning Auditing Nonprofit Accounts Payable 52

The Charity CFO

DECEMBER 15, 2023

Accurate revenue recognition, classification, and records are some of the most important aspects of nonprofit accounting. Not only does it help with transparency in your organization, but properly recording revenue keeps you in compliance with nonprofit regulations. Need Help Recording Revenue? Reach Out to the Charity CFO!

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The Charity CFO

AUGUST 15, 2023

Myth #3: Nonprofit Accounting (GAAP) and the IRS Rules are the Same Another common misconception is that GAAP and IRS rules are the same when it comes to nonprofits, however, they are not. One key differentiator is that what is recorded following GAAP is what will show up on the audit and may not show up on the IRS tax form, Federal Form 990.

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Nonprofit Accounting Profit and Loss Budgeting 52

Future CFO

FEBRUARY 6, 2020

Whether your tax, accounting and finance operations are locally-based, centralised or otherwise, investing in the right tools and resources optimises your company’s ability to meet evolving regulatory requirements and gives your team the time it needs to focus on planning, strategy and analysis.

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Technology Compliance Accounting Standards CFO 40

PYMNTS

OCTOBER 28, 2019

The Big Four auditing firms — EY, Deloitte, KPMG and PwC — have recently requested that the Financial Accounting Standards Board (FASB) provide clarity in how corporates should classify their reverse factoring or supply chain financing agreements, adding more fuel to a long-standing debate as to whether such trade financing tools are debt.

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PYMNTS

DECEMBER 12, 2019

auditing firms — EY, Deloitte, KPMG and PwC — for guidance from the Financial Accounting Standards Board in October with regard to how supply chain finance should be classified on financials, similarly pointing to an increased use of reverse factoring arrangements. The SEC’s remarks follow requests by the Big Four U.S.

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Finance Accounting Standards Corporate Finance Auditing 58

The Charity CFO

MAY 11, 2023

As regulations surrounding nonprofits can be incredibly complex, expert guidance on financial matters, including compliance with tax laws and regulations, is key. This can be especially helpful if you don’t have a dedicated staff-person with the expertise level required. There is no one size fits all solution.

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Nonprofit Communication Accounting GAAP 52

The Charity CFO

NOVEMBER 10, 2022

As a result, the organization might not adhere to Generally Accepted Accounting Principles (GAAP), which can trip them up come tax time or during an audit. Governance issues, tight regulations, and high public accountability standards mean strong accounting practices are more important than ever.

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Nonprofit Accounting Auditing GAAP 52

Future CFO

NOVEMBER 18, 2019

However, fundamental tasks in statutory accounts, management accounts, investments, budgeting, analysis, compliance, risk, payroll, audit, taxation and managing working capacity are very much interconnected.

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CFO Finance Reconciliations Accounting Standards 52

Spreadym

JULY 10, 2023

The financial close process, also known as the accounting close process or month-end close, is a series of steps undertaken by an organization to finalize its financial records for a specific accounting period. This ensures transparency, enhances data integrity, and facilitates compliance with regulatory requirements.

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Financial Planning and Analysis (FP&A) Reconciliations Accounts Payable General Ledger 52

The Finance Weekly

APRIL 28, 2024

With pre-built compliance safeguarding and meeting accounting standards including audit trials and access controls. Key Features It has automated consolidation features which accelerate the close process by automating all the manual data collection.

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Financial Planning and Analysis (FP&A) Invoicing Budgeting Finance 52

CFO Talks

DECEMBER 26, 2021

Today’s podcast is sponsored by Draftworx, which provides automated drafting and working paper financial software to more than 8000 accounting and auditing firms and corporations. CFO Talks is a brand of the South African Institute of Business Accountants.

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CFO Talks

OCTOBER 1, 2024

The conversation about the underinvestment in intangible assets in South Africa, and the challenges of accounting for these assets (due to subjective accounting treatments), directly impacts how CFOs approach financial reporting. IFRS, US GAAP). The interview highlights how companies that invest more in intangible assets (e.g.,

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CFO Talks

DECEMBER 26, 2021

Today’s podcast is sponsored by Draftworx, which provides automated drafting and working paper financial software to more than 8000 accounting and auditing firms and corporations. CFO Talks is a brand of the South African Institute of Business Accountants. I think very quickly you’re going to get compliance on this.

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CFO Talks

JANUARY 27, 2025

ESG is not just about compliance; it’s a framework for long-term business viability and resilience. As head of the ESG Working Group for the International CFO Alliance (ICFOA), David emphasized the importance of standardization and alignment across global frameworks. I must be honest.

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CFO Dive

JUNE 16, 2025

An inefficient system can lead to cost overestimation, misguided decarbonization strategies, and non-compliance issues. Enable actual supplier emissions data collection First, it’s a matter of compliance. CBAM compliance also requires the purchase, management, and surrender of CBAM certificates. You can unsubscribe at anytime.

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