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insights from the embarker blog

11 Tips To Ensure A Smooth Financial Audit

Blake Brunson . May 21, 2019

Audits are challenging enough without shooting yourself in the foot and exasperating those challenges. And as good as we are here at Embark with our kernels of wisdom and experience-driven guidance, we can’t prevent shivers from running down your...

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Tagged: auditors, financial audit

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The Differences Between an AICPA Audit and PCAOB Audit

Clancy Fossum . February 26, 2019

Chocolate chip cookies might look like their oatmeal raisin cousins from ten feet or so, but your taste buds will always beg to differ. Things that look, sound, or even act the same often have significant differences between the margins....

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Tagged: financial audit, PCAOB, AICPA

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Critical Audit Matters and The Impact on PCAOB Audit Opinion

Clancy Fossum . February 19, 2019

You could look at auditing as a process or function that is immobile and inflexible. But you’d be wrong. The truth is, auditing is as dynamic as the organization’s it helps provide focus and boundaries for. To prove our point, Embark looks...

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Tagged: financial audit, PCAOB

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Why PCAOB’s Critical Audit Matters… Matter

Clancy Fossum . February 14, 2019

Embark prides itself at being on the forefront of change in an industry too often view as static and inflexible. As anyone on the frontlines of accounting, finance, or auditing will tell you, our industry is evolving at a rapid clip, so rapid...

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Tagged: financial audit, PCAOB

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Preparing For Your First AICPA Audit

Clancy Fossum . January 29, 2019

Certain words or names have a way of invoking immediate fear upon hearing them. Broccoli. Calculus. Hasselhoff. Warranted or not, audit falls into this same category, packing quite a punch with just two short syllables. If left unchecked, it can...

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Tagged: financial audit

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Methods for a Summary of Misstatements: Iron Curtain vs. Rollover Approach

Clancy Fossum . August 09, 2018

Here’s a brain teaser for all of our Embarkites – which one actually matters?

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Tagged: financial audit, accounting tips

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Audit Debrief: How to Improve For Next Year's Audit

Clancy Fossum . May 03, 2018

Accountants, believe it or not, can learn a lot from nature. Just look at the seasons of the year, how the frigid days of winter give way to new sprigs of grass, leaves on an oak, and bluebonnets dotting the Texan landscapes. Likewise, when a...

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Tagged: auditors, financial audit, audit partner

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Making the Auditor's Jobs Easier and Limiting Audit Fees

James Durrenberger . February 15, 2018

All you have to do is turn on the TV for a few minutes to see some fine examples of the benefits of symbiotic relationships. Although it might have tampered the dizzying drama between the two, Tom and Jerry were always able to accomplish more...

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Tagged: auditors, financial audit, audit partner

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6 Ways to Improve the Internal Audit Department

Clancy Fossum . January 23, 2018

The mere mention of the word audit can make both individuals and companies try to ignore reality, just for very different reasons. Like taxpayers fearful of the "a" word and the harsh gaze of the IRS, many corporations are equally dreadful of the...

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Tagged: internal audit, financial audit, audit partner

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How to Prepare for a Successful Financial Audit

Clancy Fossum . January 11, 2018

Audits get a bad rap. Too often, they conjure images of demon-eyed accountants dressed in conservative business casual attire, mischievous grins filling their smug faces as they prepare to wreak financial havoc. Yes, in a perfect world, auditors...

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Tagged: auditors, financial audit

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