Articles From Lumsden McCormick
Posted by Jonathan Roller on January 16, 2017
When your company’s long-term viability is doubtful, it may cause the auditor to issue a qualified audit opinion. Depending on the level of uncertainty and the underlying reasons, a qualified opinion could raise a red flag that your company is under financial distress and might need to file for bankruptcy in the near future.
Posted by Robert Torella on January 09, 2017
It’s smart to perform a risk assessment every time you experience major organizational changes, such as significant expansion, or when factors such as the loss of a large grant put new stresses on your not-for-profit.
Posted by Christopher Lukowski on January 09, 2017
Financial statements reflect a company’s financial position at a particular date and the operating results and cash flows for a period ended on that date, but major events or transactions sometimes happen after the reporting period ends but before financial statements are finalized.
Posted by Jill Johnson on January 02, 2017
It is sometimes said there are two kinds of companies — those that have been hacked and know it, and those that have been hacked but don’t know it. Perhaps it’s an exaggeration, but the truth is your employees may inadvertently invite cyber criminals into your company’s computer systems. Here are some steps to mitigate that risk.
Posted by Maria Gambacorta on January 02, 2017
Although corporations and not-for-profits have been teaming up for decades, “cause marketing” partnerships have recently gained new popularity.
Posted by Sherry DelleBovi on January 02, 2017
In order of increasing level of rigor, accountants generally offer three types of assurance services: compilations, reviews and audits. What’s appropriate for your company depends on the needs of creditors or investors, as well as the size, complexity and risk level of your organization.