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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: financial audit, auditors, 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: audit partner, financial audit, auditors

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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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