No one can claim that SOX 404 compliance and developing a SOX controls compliance program is easy. We can say, however, that the overall process has become much easier after years of practice and an evolving understanding—by regulators, companies, auditors and, yes, consultants—over what’s needed to create a solid internal control framework that reduces the […]
Some companies received a major gift wrapped up in uncertainty when the Financial Accounting Standards Board delayed the effective date for the lease accounting standard last year. Now, private companies that have not yet implemented ASC 842 have until January 2022 to adopt the mammoth standard. Considering that time keeps slipping away, you won’t want […]
Photo by Alice Pasqual on Unsplash Companies have had over five years to process the new lease accounting standard, ASC 842, since the Financial Accounting Standards Board issued it in 2016. Public companies have implemented ASC 842, but for some private companies, the effective date has still not come to pass. With the deadline finally […]
By Pat Voll SPAC acquisitions are taking up a lot of attention, but they’re not the only deals getting made. Virtual handshakes are also happening in multitudes for traditional mergers and acquisitions. Despite concerns that the M&A deal pipeline would dry up when the pandemic struck a year ago—which did lead to a Q2 dip—2021 […]
When a fast-growing company seeks outsourced accounting and finance help to bring order to the chaos, they are often in an envious position: They are growing so fast that they have not had a chance, or the resources, to establish the order and corporate governance structure necessary for ensuring the reliability of their financial statements, […]
What are some of the main purposes of strengthening a company’s internal controls over financial reporting? One is to set up a defense to minimize the risk of a material misstatement to the financial statements. Another is to put up a barrier against the temptation to commit fraud. Companies that are going public or newly […]
With a bright future ahead of your emerging growth company, you can’t risk winging it. Making an uninformed leap into a new territory or adding a new product line without knowing whether there’s demand for it is setting up the company for trouble. As you explore ways to steer your company toward greatness, here’s why […]
Should your company outsource accounting? As companies expand and the need for cost efficiencies rise, it’s a common question. An emerging growth company will look for accounting outsourcing companies that can set up its finance function and provide CFO-level guidance, while a more established company’s need for outsourcing accounting work is more likely to center […]
Corporate governance principles determine how your company conducts itself—and how it’s viewed by outsiders. Investors and potential acquirers can tell a lot about a company based on whether it follows corporate governance principles, either formally or informally, or ignores them. Here are some core principles of good corporate governance and best practice recommendations as you […]
By Pat Voll Many, many companies are making big moves. And they’re keeping our finance consulting firm busy—we’ve recently helped a number of clients as they’ve headed toward the IPO market: foreign companies wanting to list on the U.S. exchanges, as well as domestic companies looking to capture higher valuations on their own or getting […]
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