Tag Archives | business risk management

People sending and receiving money wirelessly

Auditing Cashless Transactions

Like most businesses, you’ve probably experienced a significant increase in the number of customers who prefer to make cashless payments. And you may be wondering: How does the acceptance of these types of transactions affect the auditing of your financial statements? Cashless transactions require the exchange of digital information to facilitate payments. Instead of focusing […]

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image of words indicating ways to offset business risks

How Auditors Assess Risk When Preparing Financial Statements

Every year, your audit firm will conduct a fresh risk assessment before the start of fieldwork. Why? Because your auditor wants to mitigate the risk of expressing an incorrect opinion regarding the accuracy and integrity of the company’s financial statements. Inadvertently signing off on financial statements that contain material misstatements can open a Pandora’s box […]

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men and women sitting holding resumes to apply for a job | Independent Contractor vs. Employee | Dalby, Wendland & Co., P.C. | CPAs | Business Advisors

Independent Contractor vs. Employee

Many employers mistakenly believe that the misclassification of employees as independent contractors doesn’t really matter, so long as the contractors satisfy all of their tax obligations. This couldn’t be further from the truth. Improper classification of workers comes at a high cost, and both federal and state authorities have been cracking down on the practice […]

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Risk and reward balance

How Effectively do You Manage Risk?

Businesses can’t eliminate risk, but they can manage it to maximize the entity’s economic return. A new framework aims to help business owners and managers more effectively integrate enterprise risk management (ERM) practices into their overall business strategies. 5-part approach On September 6, the Committee of Sponsoring Organizations of the Treadway Commission (COSO) published Enterprise […]

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