There are clear benefits to performing sell-side due diligence in connection with the sale of a business. More sellers are investing in sell-side financial due diligence as a key component of a well-run sales process which, for many reasons, there is no substitute for when it comes to selling a business.
With cyberattackers growing increasingly sophisticated in their methods and the number of data breaches on the rise, it’s no wonder that cybersecurity is top of mind for both the public and private sectors. In fact, the numerous attacks in recent years have been serious and costly enough to prompt action at the federal level.
In years past, partnership audit adjustments were passed out to individual partners, and tax was subsequently assessed at the partner level. All that changed on June 13, 2017 when the IRS issued regulations that contain new procedures for partnership audits.
Debit cards are fairly easy to use. Unfortunately they are also easy targets for fraudulent activity, but many people are unaware of these financial risks.
The FASB recently issued ASU 2017-11 to simplify the accounting for certain financial instruments with down round features. This new standard will reduce income statement volatility for many companies that issue warrants and convertible instruments containing such features.
Traditionally, it’s been easy for most people to identify their taxable state of residence. You own a home, you live in that home, and that’s where your residency, well, resides. Yet today, many employees work remotely or commute across state lines. So how do state tax departments determine where your home actually is?
While travel expenses are one of the most often used business deductions, it can sometimes be difficult to understand what is truly deductible.
Cybersecurity is a critical business function, yet, paradoxically, cyber risk is often insufficiently examined – or even overlooked – during the merger and acquisition due diligence process. This often results in the acquiring company unwittingly assuming risk and placing assets in jeopardy.
Many organizations think that developing a risk control matrix is a one-time exercise, since the inherent process risks rarely change. What these organizations sometimes overlook is that the control environment continually evolves due to changes in applications, reassignment of control activities, or reorganization of personnel involved in performing control activities.
On June 1, 2017 the Public Company Accounting Oversight Board adopted a new auditor reporting standard, The Auditor’s Report on an Audit of Financial Statements When the Auditor Expresses an Unqualified Opinion, and related amendments to certain other PCAOB standards, to enhance the auditor’s report by requiring communication of additional information about the audit.