Insights That Drive Action

Our Audit & Attest Insights keep you informed of the latest news in accounting, audit, tax and advisory.

Beyond the Budget: How Not-for-Profits Can Strengthen Financial Sustainability Amid Funding UncertaintyFeatured

Article

Beyond the Budget: How Not-for-Profits Can Strengthen Financial Sustainability Amid Funding Uncertainty
CFO + ESG + Scope 3: The Ripple Effects of Environmental Value-Chain Disclosures
Article
July 26, 2022
CFO + ESG + Scope 3: The Ripple Effects of Environmental Value-Chain Disclosures
    July 26, 2022
    CFO + ESG + Scope 3: The Ripple Effects of Environmental Value-Chain Disclosures

    According to The Morning Consult, the ​majority of “frequent investors” are actively evaluating how companies respond to environmental concerns, treat people, and set ethical standards. Companies have taken note by increasing the amount they disclose about their ESG programs
      Excess Business Loss Limitation Explained
      Article
      July 11, 2022
      Excess Business Loss Limitation Explained
        July 11, 2022
        Excess Business Loss Limitation Explained

        The constant change in tax law over the last few years has made it difficult for many to keep up. One of those changes is the Excess Business Loss limitation.
          FASB Clarifies and Expands Fair Value Hedge Accounting
          Article
          July 05, 2022
          FASB Clarifies and Expands Fair Value Hedge Accounting
            July 05, 2022
            FASB Clarifies and Expands Fair Value Hedge Accounting

            Given the general complexities of hedge accounting, stakeholders need guidance and clarification as much as possible.
              Transform Your Not-for-profit With Data Analytics
              Article
              June 07, 2022
              Transform Your Not-for-profit With Data Analytics
                June 07, 2022
                Transform Your Not-for-profit With Data Analytics

                Discover how data analytics can help not-for-profits optimize fundraising, improve efficiency, and make informed decisions.
                  Updated Guidance for How Healthcare Entities Account for Contributions of Vaccines or other Pharmaceuticals, Medical Supplies or Equipment
                  Article
                  April 19, 2022
                  Updated Guidance for How Healthcare Entities Account for Contributions of Vaccines or other Pharmaceuticals, Medical Supplies or Equipment
                    April 19, 2022
                    Updated Guidance for How Healthcare Entities Account for Contributions of Vaccines or other Pharmaceuticals, Medical Supplies or Equipment

                    Not-for-profit and for-profit health care providers recently received additional accounting guidance for donations of certain types of medical items.
                      3 Ongoing Challenges with Revenue Recognition Accounting
                      Article
                      April 19, 2022
                      3 Ongoing Challenges with Revenue Recognition Accounting
                        April 19, 2022
                        3 Ongoing Challenges with Revenue Recognition Accounting

                        When the changes to revenue recognition under ASC Topic 606 were introduced in 2014, it marked one of the most significant accounting changes in history.
                          Accounting Implications Arising from the Russia-Ukraine War
                          Article
                          April 14, 2022
                          Accounting Implications Arising from the Russia-Ukraine War
                            April 14, 2022
                            Accounting Implications Arising from the Russia-Ukraine War

                            The ongoing crisis in Ukraine has sent shockwaves through the global economy, with investors facing an unstable market and the Russian currency taking a sharp dive.
                              What to Know About SAS 136: A New Audit Standard for ERISA
                              Article
                              March 29, 2022
                              What to Know About SAS 136: A New Audit Standard for ERISA
                                March 29, 2022
                                What to Know About SAS 136: A New Audit Standard for ERISA

                                The following provides a recap about what the new standard for ERISA employee benefit plans will mean for plan management and the ERISA Section 103(a)(3)(C) audit process
                                  New Reporting and Disclosure Requirements for Contributed Nonfinancial Assets or Contributed Services for Not-for-Profit Organizations
                                  Article
                                  March 29, 2022
                                  New Reporting and Disclosure Requirements for Contributed Nonfinancial Assets or Contributed Services for Not-for-Profit Organizations
                                    March 29, 2022
                                    New Reporting and Disclosure Requirements for Contributed Nonfinancial Assets or Contributed Services for Not-for-Profit Organizations

                                    A September 2020 accounting update will affect accounting for cash donations for not-for-profit organizations.
                                      Why Third-Party Risk Assessments are Essential for SOC 2 Reports
                                      Article
                                      March 22, 2022
                                      Why Third-Party Risk Assessments are Essential for SOC 2 Reports
                                        March 22, 2022
                                        Why Third-Party Risk Assessments are Essential for SOC 2 Reports

                                        To get the most out of your investment in a SOC 2 report and truly protect your data, you’ll need a third-party risk assessment.
                                          Why Private Equity and Venture Capital Firms Should Early Adopt This Debt Accounting Update
                                          Article
                                          March 01, 2022
                                          Why Private Equity and Venture Capital Firms Should Early Adopt This Debt Accounting Update
                                            March 01, 2022
                                            Why Private Equity and Venture Capital Firms Should Early Adopt This Debt Accounting Update

                                            The Financial Accounting Standards Board (FASB) has been evaluating accounting standards for the past several years to identify the requirements that could be streamlined.
                                              ASC 740 Considerations for Pass-Through Entity Tax Regimes
                                              Article
                                              March 01, 2022
                                              ASC 740 Considerations for Pass-Through Entity Tax Regimes
                                                March 01, 2022
                                                ASC 740 Considerations for Pass-Through Entity Tax Regimes

                                                An increasing number of states are embracing an entity-level income tax on pass-through entities (PTEs) as a way to mitigate the $10,000 deduction limit for state and local income taxes (SALT cap).
                                                  Demystify the SOC 2 Risk Assessment
                                                  Article
                                                  February 25, 2022
                                                  Demystify the SOC 2 Risk Assessment
                                                    February 25, 2022
                                                    Demystify the SOC 2 Risk Assessment

                                                    With the importance that information security continues to have in enterprise and vendor risk management, your organization may find itself needing a (SOC) 2 report.
                                                      MHM Appoints New President and Chairman
                                                      Article
                                                      February 16, 2022
                                                      MHM Appoints New President and Chairman
                                                        February 16, 2022
                                                        MHM Appoints New President and Chairman

                                                        MHM announced that Andy Burczyk has retired and that Andrew Gragnani has been appointed the new President for the organization.
                                                          3 Things Manufacturers Need to Know About Their Accounting for Leases
                                                          Article
                                                          January 31, 2022
                                                          3 Things Manufacturers Need to Know About Their Accounting for Leases
                                                            January 31, 2022
                                                            3 Things Manufacturers Need to Know About Their Accounting for Leases

                                                            Here are the core provisions manufacturers should know about with the lease accounting changes and how it could impact financial statements.