Management’s and auditors’ risk assessment processes play a crucial role in financial reporting decisions and the effectiveness of internal controls over financial reporting (ICFR). In a Statement released by SEC Chief Accountant…
The evolution of internal auditing: Exploring the role of AI in automation and enhancement
In an era defined by technological innovation, artificial intelligence (AI) has emerged as a disruptive force across industries, challenging traditional practices and reshaping business processes. One area that has caught the attention…
Revolutionizing the skies: The promise of sustainable aviation fuel
The aviation industry has long been a symbol of human progress, connecting people and cultures across the globe. However, this progress has come at a significant environmental cost, as traditional jet fuels…
Should businesses advertise on TikTok?
In 2022, TikTok’s annual revenue from ads registered at $9.9 billion – a whopping 155% yearly increase. Deciding whether to advertise on TikTok depends on various factors, including your target audience, marketing goals,…
Hawaii wildfire victims qualify for tax relief
WASHINGTON — On August 18, the Internal Revenue Service (IRS) announced expansive tax relief for Hawaii wildfire victims in Maui and Hawaii counties. These taxpayers now have until Feb. 15, 2024, to file various…
Amazon Renewed – A new way to shop refurbished electronics and more
What is Amazon Renewed? If you do a Google search, you will find that Amazon is marketing Amazon Renewed as “your trusted destination for pre-owned, refurbished, and open-box products.” Products sold on…
Transforming Accounting and Finance with Generative AI
In recent years, the integration of artificial intelligence (AI) has revolutionized various industries, and the fields of accounting and finance are no exception. One of the most intriguing advancements in AI technology…
Back-to-School Shopping Amidst Inflation: Smart Strategies for Parents
As the summer days start to wane and the calendar inches closer to September, parents and students alike prepare for the annual ritual of back-to-school shopping. However, this year’s shopping spree comes…
PCAOB issues “Annual Report on the Interim Inspection Program Related to Audits of Brokers and Dealers”
The PCAOB’s “Annual Report on the Interim Inspection Program Related to Audits of Brokers and Dealers” (Annual Report) provides: Generally, the inspection results of firms that audited 100 or fewer broker-dealers continued…
Navigating the Financial Landscape: Accounting for Crypto Assets
In the ever-evolving world of finance, the rise of cryptocurrencies has introduced a new paradigm that demands careful consideration within the realm of accounting. Crypto assets, such as Bitcoin, Ethereum, and a…