News & Resources

How Auditors Use Benford’s Law to Assess Transactions

  An interesting tool called Benford’s Law can be effective in detecting fraud. But it also can be used during external auditing procedures to test journal entries for unusual numeric patterns. Here’s what you should know about this statistical technique,

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Using Agreed-Upon Procedures to Target Specific Items of Concern

  Your CPA offers a wide menu of services. One flexible offering, known as an “agreed-upon procedures” engagement, provides limited assurance on a specific aspect of an organization’s financial or nonfinancial information. What’s Covered? Agreed-upon procedures can cover various items.

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Seller-Paid Points: Can Homeowners Deduct Them?

  In its latest report, the National Association of Realtors (NAR) announced that July 2022 existing home sales were down but prices were up nationwide, compared with last year. “The ongoing sales decline reflects the impact of the mortgage rate

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Is Your Current Bad Debt Allowance Reasonable?

  In today’s volatile market conditions, it’s important to review your accounts receivable ledger and consider writing off stale, uncollectible accounts. The methods that you’ve used in the past to evaluate bad debts may no longer make sense. Here’s how

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Tax Credits for Electric Vehicles

  President Biden signed the Inflation Reduction Act of 2022 into effect on Tuesday, August 16th. One of the major provisions in the new act contains updated guidelines on tax credits for electric vehicles (EVs). The Act extends the $7,500

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