ThomsonReuters

NOVEMBER 10, 2022

Freeing tax teams to focus on more strategic, high-value activities. million in net-positive benefits over three years, representing a return on investment of 120%. One example of how ONESOURCE saves time and money is invoice error rates. million over three years by reducing their invoice error rates alone. per invoice.

Compliance 59

Compliance Technology Marketability 59

ThomsonReuters

MAY 6, 2022

Create a referral plan. A referral plan that compensates clients for sending new business your way is a simple way to incentivize those all-important word-of-mouth referrals. For example, if you have clients signed up for general tax preparation services, introduce them to your tax planning or audit services as well.

Accounting Firms 87

Accounting Firms Start-ups Marketability Dividends 87

Audit Board

MARCH 1, 2023

As businesses begin their SOX planning, adopting a risk-first approach to SOX can help teams drive efficiency throughout their testing year. Devote time in the first few weeks of the new year to a thorough debrief session of last year with your SOX and/or internal audit team.

Compliance 52

Compliance 52

M&A Leadership Council

JUNE 8, 2023

Before Launching Your Next Integration Take a Good Look by Mark Herndon, Chairman Emeritus, M&A Leadership Council It’s not a trick question: “How do you know you're ready to launch integration planning?” Our answer? Not until you’ve done THIS – created a comprehensive Integration Strategy Framework (ISF).

Technology 59

Technology Marketability 59

ThomsonReuters

OCTOBER 31, 2023

A Thomson Reuters survey found that 1 in 10 accounting and tax professionals are currently using ChatGPT/generative AI or planning to integrate these technologies into their operations. Robotic process automation (RPA), for example, is software technology that’s designed to act as a complement to processes performed by a human.

Technology 52

Technology Compliance 52

Audit Board

JUNE 27, 2022

” In this article, I outline the need for change and suggest seven ways to help us focus on delivering value instead of simply delivering the plan. We have talked about agile auditing for at least ten years but have yet to fully embrace it. Strategic alignment. Rolling plan, live audits. How do we gauge success?

Technology 52

Technology 52

Sun Acquisitions

OCTOBER 5, 2022

The United States Small Business Administration puts the timeline at 24 months (2 years). Step 2: Determine when you plan to sell. Furthermore, getting a business ready for sale is a process that in and of itself requires at least a year or two of preparation. Step 3: Get a business valuation done. For example.

Business Valuation 52

Business Valuation Earnings Multiplier Private Equity Firm Book Value 52

Audit Board

AUGUST 8, 2023

Enterprise risk management is a methodology of risk management, taking a top-down approach to the risk management process, and taking into account the organization and senior management’s business objectives and strategic objectives. The need for a centralized and enterprise-wide approach to risk management gradually became clear.

Compliance 52

Compliance Start-ups Technology Marketability 52

Audit Board

DECEMBER 14, 2022

Assessments are vital tools for planning and scoping throughout every stage of maturity in your compliance program. If your business plans to expand into new markets. If your business works or plans to work with government entities. Common Reasons for Performing a Gap or Readiness Assessment. Customer/contractual commitments.

Compliance 52

Compliance Technology Marketability 52

ThomsonReuters

JULY 6, 2023

From tax planning and strategy to counsel on tax-related legislation, accounting advisory includes a variety of engagements in which clients rely on an accounting professional’s unique knowledge and experience. By offering advisory services, your firm can become a strategic partner versus a compliance processer.

Start-ups 88

Start-ups Compliance Accounting Firms Technology 88

Audit Board

OCTOBER 16, 2022

But this is no time to dwell on what happened this past year. How can you use that knowledge to help your organization get ahead of risk and set the right priorities for next year? . For example, maybe there’s a compliance issue with a planned course of action, or an emerging risk nobody is acknowledging.

Compliance 52

Compliance Start-ups 52

Sun Acquisitions

JUNE 22, 2022

This is simply a plan that may involve eventually selling the company, or sharing it with other venture capitalists, or even competitors. We see examples of this in management buyouts, initial public offerings (IPOs), and strategic mergers and acquisitions (M&A). Reason #3 The Owner is Facing Litigation.

Technology 52

Technology 52

Internal Audit 360

APRIL 13, 2023

GUEST BLOG Editor’s Note: The views expressed here are the opinions of the author. More than two years of effort has resulted in a major re-envisioning of this important body of standards and guidance. I’ve also been a member of the IIA and part of the profession for most of my 40-year career.

Start-ups 110

Start-ups 110

M&A Leadership Council

JANUARY 3, 2022

It’s not a trick question: “How do you know you are ready to launch integration planning?” In advance of joint integration planning, the deal-strategy implications for integration should be scoped out to determine integration work-stream requirements. Our answer? What is an Integration Strategy Framework ?

Technology 52

Technology Marketability 52

Audit Board

AUGUST 16, 2023

With this evolution, standards organizations around the world, like the US’s National Institute of Standards and Technology (NIST) and the International Standards Organization (ISO) have developed and released their own best practice frameworks and guidance for businesses to apply to their risk management plan.

Start-ups 52

Start-ups Compliance Technology Specific Risk 52

ThomsonReuters

APRIL 4, 2022

It is also important to consider a tax compliance solution that has strategic partnerships with third-party providers to further streamline and automate your firm’s workflows. Develop an implementation plan for the new technology. Unlock growth opportunities. Your firm can achieve this with the right tools and resources in place.

Compliance 98

Compliance Start-ups Accounting Firms Technology 98

ThomsonReuters

APRIL 6, 2023

Consider this example: If your business purchases goods from a vendor and agrees to pay after one month, accounts payable is credited. Accounts payable is a short-term liability, while expenses are operational costs incurred over an entire fiscal year. What is 3-way matching in accounts payable?

Finance 52

Finance Technology 52

Value Scope

APRIL 9, 2021

This paper attempts to explain and distinguish between various valuation concepts, such as price, fair market value, fair value, liquidation value, intrinsic value, financial value versus strategic value, monetary versus economic value, emotional and psychic value, among others. increase on value. [5] the cost of capital). [6]

Fair Market Value 130

Fair Market Value Marketability Finance Intangible Assets 130

Value Scope

APRIL 9, 2021

This paper attempts to explain and distinguish between various valuation concepts, such as price, fair market value, fair value, liquidation value, intrinsic value, financial value versus strategic value, monetary versus economic value, emotional and psychic value, among others. Liquidation, Monetary, Financial, and Strategic Value.

Fair Market Value 130

Fair Market Value Marketability Finance Intangible Assets 130

Cooley M&A

JANUARY 23, 2024

In a subdued year for global M&A, deal-making in the life sciences industry came in waves, with a busy fourth quarter generating cautious optimism heading into 2024. The last quarter of the year ended with a surge of deal activity. Why did life sciences outperform the market? billion and Cerevel Therapeutics for $8.7

Marketability 52

Marketability Equity Private Equity Firm Finance 52

ThomsonReuters

APRIL 13, 2023

Most likely, they’ll come back next tax season and perhaps from time to time throughout the year as they make key decisions. You can start by asking questions such as: By which percentage would you like to boost your bottom line over the next fiscal year? What are your biggest financial pain points?

Accounting Firms 59

Accounting Firms Finance 59

FE International

MARCH 23, 2022

Does the business generate <$2,000,000 revenue per year? Businesses that are 2 years old are the preferred entry point, and at 3+ years they start to receive more of a premium multiple. Enterprise companies, those with customers paying more than $250k per year are typically closer to 1%. 3) MRR vs ARR.

EBITDA 105

EBITDA Start-ups Business Valuation Marketability 105

Audit Board

MARCH 24, 2022

Identifying areas of risk exposure and creating plans to reduce issues is an important exercise that positions businesses well in their strategic planning and keeps unexpected costs in check. For example, the IMF reported last year that sustainability initiatives are a growth area in Asia. 3: Fraud Concerns.

Start-ups 75

Start-ups Compliance Technology 75

ThomsonReuters

OCTOBER 21, 2022

“Payroll is going to move from that traditional back-office sort of function to a more strategic business partner,”?Weckman Strategic payroll systems. On-demand pay has been a topic that has been creating some buzz around the payroll industry in recent years. Weckman said on payroll’s future. . On-demand pay.

Compliance 52

Compliance Technology Start-ups Equity 52

Equilest

SEPTEMBER 16, 2022

3: Make Your Office Easy To Find And Easy To Access Physically. If you have been doing bookkeeping for years, there may be other tasks that could be added to your repertoire. 7: Be Proactive And Provide Tax Planning Services. Look at the needs of your target market and develop a plan for attracting them.

Accounting Firms 40

Accounting Firms Business Valuation Start-ups Marketability 40

Equilest

SEPTEMBER 16, 2022

3: Make Your Office Easy To Find And Easy To Access Physically. If you have been doing bookkeeping for years, there may be other tasks that could be added to your repertoire. 7: Be Proactive And Provide Tax Planning Services. Look at the needs of your target market and develop a plan for attracting them.

Accounting Firms 40

Accounting Firms Business Valuation Start-ups Marketability 40

Audit Board

OCTOBER 26, 2023

It’s been under a year since OpenAI launched ChatGPT in November 2022. For example, only 38% of organizations are mitigating related cybersecurity risk, 32% inaccuracy, 25% IP infringement, 20% personal/individual privacy, 16% organizational reputation, and 13% workforce/labor displacement. ChatGPT itself says we’ll always be needed.

Start-ups 52

Start-ups Banking Technology Compliance 52

ThomsonReuters

OCTOBER 21, 2022

“Payroll is going to move from that traditional back-office sort of function to a more strategic business partner,”?Weckman Strategic payroll systems. On-demand pay has been a topic that has been creating some buzz around the payroll industry in recent years. Weckman said on payroll’s future. . On-demand pay.

Compliance 40

Compliance Technology Start-ups Equity 40

Audit Board

MAY 6, 2022

Audit committee members have oversight of internal audit, but time together is often limited to just four meetings each year. For example, management may not be identifying all pertinent risks, assessing and prioritizing risks properly, considering all possible responses to risks, or ensuring the chosen risk responses are implemented.

Compliance 98

Compliance Technology Specific Risk 98

Audit Board

NOVEMBER 8, 2023

Over the next 10 years, card fraud is projected to cause losses of $397 billion worldwide — a staggering figure that affects consumers and small businesses as much as enterprises and credit card companies. Level 3: 20,000 to 1 million e-commerce transactions annually. Level 2: 1 to 6 million transactions annually.

Compliance 52

Compliance Start-ups Banking Technology 52

Audit Board

AUGUST 1, 2023

This is a document that summarizes each identified risk, provides a description, documents the risk score, and usually includes the remediation plan and owner. Scoping, System Definition, and Appetite Before building any type of project plan, you must define the parameters for success and the scope of the project.

Technology 52

Technology Start-ups Compliance Marketability 52

FE International

MARCH 27, 2020

Speculative Exit Planning & Strategy Planning. Speculative Exit Planning. Many business owners may not be looking to sell their company but could benefit from a valuation for planning purposes. FE International has helped hundreds of business owners better plan for their futures by offering comprehensive valuations.

Business Valuation 52

Business Valuation Marketability Start-ups Appraisal 52

Cooley M&A

MAY 11, 2020

Residential rental companies Front Yard Residential and Amherst Residential mutually agreed to terminate their planned $2.3 In late April, both parties stated that they continued to believe in the strategic merits of the transaction and were working toward closing the deal, but cautioned that there could be no assurances that would happen.

Finance 40

Finance Start-ups Marketability Debt Financing 40

Cooley M&A

FEBRUARY 1, 2024

2023’s much-discussed downturn in mergers & acquisitions – with global M&A volume and value down 6% and 17%, respectively, from 2022 – was largely driven by the slowdown in the tech sector, with global tech M&A volumes down 51% year over year, while other sectors saw marked increases. [1] billion leading the pack.

Equity 59

Equity Finance Marketability Start-ups 59

Audit Board

MAY 15, 2023

External risk events like the COVID-19 pandemic point to an increasing need for businesses to develop a risk assessment plan that helps them execute certain strategies and achieve objectives effectively, even in the face of an unprecedented risk landscape. Take the risks of the COVID-19 pandemic as a risk assessment matrix example.

Start-ups 98

Start-ups Compliance Technology 98

Audit Board

AUGUST 29, 2023

This article originally appeared on the Chartered IIA Technical Blog. After you validate their quality, there is probably much you can leverage for planning and fieldwork. For example, from Benford’s law, we know that the likelihood of a digit (i.e., For example, from Benford’s law, we know that the likelihood of a digit (i.e.,

Technology 52

Technology Start-ups Compliance Finance 52

Audit Board

AUGUST 3, 2022

For example, a financial statement risk owner should be able to see assessment results for relevant fraud risks (e.g., Collaborate with assessment owners and representative(s) from stakeholder functions on planning which risks to assess and how to score them. For example, using COSO Framework risk categories (e.g., Conclusion.

Compliance 52

Compliance 52