By Mark Sheffield, Principal
When the Sarbanes-Oxley Act was passed in 2002, large public companies were forced to implement and document formal internal controls. Large companies had to think more about risk and how to strengthen business oversight. Small companies have risk too. Perhaps relatively more risk, because they don’t have the controls the larger companies now have in place. What can small business learn from large business to reduce risk? Here are five processes big companies have that small businesses should also implement. (more…)
Categories: Uncategorized
By Carol Wagner, ASL Principal
The new accounting standard for revenue recognition is finally here! It’s officially referred to as ASU 2014-09 – Revenue from Contracts with Customers. FASB issued the final revenue recognition standard in May 2014.
In a recent Wall Street Journal Article, Tax Surprises Can Follow When Payroll Firms Implode, the problem of payroll tax embezzlement reared its ugly head. While small payroll service firms can provide a lower-cost higher-touch service experience for emerging businesses, they’re also more likely to perpetrate embezzlement of your payroll tax payments than a big firm due to lack of oversight that leads to increased opportunity. (more…)