Thus far, there have been approximately 191,000 2013 calendar year end Form 5500 filings. Of those filings, approximately 47,000 (25%) were received within the last 3 days of the extended October 15th due date or after the due date. Although I can’t say for certain why those numbers are so high, based on previous experience, I can point to three common areas that cause delayed or late filings and offer tips on how to avoid these pitfalls.
Continuous Auditing (CA) has been in the minds of Audit Committees and Chief Audit Executives (CAE) for more than two decades. While the overall concept is well understood, sometimes it is confused with Continuous Monitoring (CM). A distinction between these two has to be made to understand how CA complements continuous monitoring and the unique benefits of CA.
A successful internal audit function is made up of people with the right skills, who are business partners with management and provide insight into identifying and addressing risks of the company, including emerging risks, It is this incubator of risk-focused people who we also look to enter the business and assist the company in achieving its long-term objectives.
Every year there is some change in the tax law that makes tax season unbearable for CPAs, attorneys and tax preparers alike. In 2015, it will be Repair Regulations, the last minute passage of the “Tax Increase Prevention Act of 2014”, The Patient Protection and Affordable Care Act mandate, and changes in New York for estate and gift tax planning.
Respondents to the WeiserMazars LLP 2014 U.S. Water Industry Outlook, who came from both private and public companies, identified three key challenges for the US water industry.
Startup companies may go through various stages of external funding throughout their lifecycle. Typically, the first stage consists of seed funding, which is usually earmarked for developing the company’s product or technology and achieving marketplace fit.