Auditing Concentration Profit and Loss Reconciliations 
CFO Share
MARCH 14, 2022
QOE reports go beyond the balance sheet and profit and loss statement – they challenge the underlying data through rigorous testing and management interviews to assess accuracy, and risk. What is the difference between a quality of earnings report and an audit? Sales concentrations and/or backlog risk.
CFO Share
SEPTEMBER 7, 2023
Monthly account reconciliations are commonly only performed on major GLs, like cash and credit cards. That’s not best practice and could create problems during an audit or due diligence. If you miss the 12/31 bonus deadline, you can pay a 401k profit share bonus after year-end and apply it to the prior year. Plan your schedules.
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