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Top accounting issues in 2023

ThomsonReuters

The accounting profession has faced a profound shift in recent years: from significant regulatory changes to an influx of innovative technologies, to reimagined business models, to an increase in client expectations. There’s also outsourcing.

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Understanding accounts payable: FAQ

ThomsonReuters

Whether you’re an accounting student, a recent college grad, or a small business owner, you may have questions about what accounts payable is, how it works, and best practices. As an important indicator of the health of a business, accounts payable is a gauge of cash flow. Is accounts payable a revenue?

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How tax and accounting professionals can develop an ESG narrative

ThomsonReuters

With ESG-related legislation and heightened investor interest, incorporating an ESG narrative is critical for businesses as they navigate the complexities and look to ensure compliance. Think of helping your clients find financial stability, serving small businesses, or supporting community-based events.

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What is PCI Compliance? 12 Requirements and Steps

Audit Board

Payment card data is an appetizing target for many hackers and bad actors, and FICO’s investigations show that, while credit card companies have tightened their security systems in the wake of COVID-19, credit card fraud continues to be a huge problem. Who Needs to Be PCI Compliant?

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What triggers a sales tax audit and how do you reduce the risks?

ThomsonReuters

A sales tax audit determines whether a business has collected and paid the correct amount of sales tax owed to the state for taxable transactions. If your business has been selected for an audit, consider using a specialist, such as a CPA, a sales tax expert, or a tax professional who specializes in state and local taxes (SALT).

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Cooley Discusses “Internal Control over Sustainability Reporting”

Reynolds Holding

While some larger institutions have progressed in building controls around environmental, social, and governance (ESG) reporting, many organizations have designed ad hoc controls around certain key sustainable business metrics. Many also perform internal verification and assurance procedures to ensure management comfort with this information.

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What Is a Risk Assessment Matrix? And Why Is It Important?

Audit Board

In today’s modern threat landscape, compliance risk, cybersecurity risk, fraud risk, and even climate change risk can have a significant impact on your company’s reputation and bottom line. While you’ll never be able to eliminate business risk entirely, prevention is the best insurance against loss.