Audit Board

MAY 31, 2023

Attain Regulatory Peace of Mind Meeting regulatory compliance requirements can seem daunting for a new company. In this article, I will share four of the most important benefits I have seen internal audit bring to private companies and startups that build a foundation for long-term success. 1.

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ThomsonReuters

MAY 27, 2022

For those with small supply chains, keeping up with the changes may be nothing more than a manageable headache. This will be enforced starting on June 21 2022, by US Customs and Border Protection. Effect of the Russia-Ukraine conflict on supply chain compliance. Border regulations affecting supply chain compliance.

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ThomsonReuters

APRIL 4, 2022

Sure, your firm’s tax compliance software does its job, but you know that there’s room for significant improvement. Then comes a pause: any up-front expense and onboarding require careful decision-making in the proverbial boardroom. It is no secret that today’s firms are facing increased commoditization of compliance-based services.

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Audit Board

APRIL 4, 2023

Continuous compliance begins with leadership and strategy — after which the responsibility must be passed off between compliance teams and their stakeholders. AuditBoard’s InfoSec Survival Guide: Achieving Continuous Compliance explores why stakeholders are as essential to compliance as branches are to a tree.

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Reynolds Holding

OCTOBER 24, 2023

I’d like to start by returning to a theme that I’ve touched on before, and that is how public trust in our institutions is faltering. [1] We need to work together to create what I call a culture of proactive compliance. Creating a culture of proactive compliance requires three things: education , engagement , and execution.

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ThomsonReuters

DECEMBER 1, 2021

Corporate indirect tax professionals have been told for years that they can garner more influence and respect within their organizations by transitioning the indirect tax function from a purely compliance-oriented activity to a strategic advisory role. In any case, the process itself starts by earning trust with leaders at the top.

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ThomsonReuters

FEBRUARY 15, 2021

For businesses and multinationals doing business in or with the UK, Brexit has created an avalanche of trade compliance complications. Post-Brexit trade compliance and supply chain concerns. Stay up-to-date on tariff rates, sanctions, controls, and rules for 210 countries. A new tariff regime: The UKGT.

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Accountancy Today

JULY 21, 2022

More is needed to tackle R&D abuse and improve compliance despite the improvements to legislation made as part of the Government’s Finance Bill, according to RSM UK. That could be a bitter pill to swallow for start-up and fledgling companies and may result in such companies losing out on valuable benefits.

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ThomsonReuters

MARCH 5, 2024

Compliance and having multiple plans As when these provisions initially took effect, a major issue for businesses and tax practitioners will be to keep up with the changes from a compliance standpoint. 115-97 ) of 2017 brought about significant changes to the U.S. “The TCJA changed all of those to where they are taxable.”

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ThomsonReuters

JULY 13, 2023

By incorporating the latest technology, accounting firms can manage their tax compliance obligations more efficiently, while also providing staff with the tools and resources they need to stay informed and maintain a work-life balance. To stay up to date on all things AI at Thomson Reuters, sign up here 3. Sounds great, right?

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Audit Board

JUNE 29, 2023

The widespread adoption of digital transformation, accelerated since the onset of COVID, has created an urgent need for Information Security, Compliance, and Risk teams to navigate the risks associated with emerging software. Process automation remains a top priority to help companies respond to these changes. What Is Automation?

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Audit Board

JUNE 2, 2023

Controls testing and evidence collection can be burdensome not only for compliance and audit professionals, but also for the stakeholders they engage with. Controls Testing Foundational Elements The most important consideration for your compliance program is your controls inventory (or controls library).

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ThomsonReuters

JULY 6, 2023

This trend is picking up pace as more and more accounting firms use technology to their advantage. With APIs that can automate the entire tax compliance workflow , accountants no longer have to spend their time on manual activities like entering data, identifying blank fields, or searching for numbers that don’t add up.

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Audit Board

NOVEMBER 8, 2022

As the business landscape changes, compliance is becoming increasingly relevant across all industries. With risks constantly changing and driving new compliance requirements, compliance programs must be able to respond to changes with agility. It is important to start with a true understanding of your industry landscape.

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Reynolds Holding

JANUARY 18, 2024

DOJ agreed to credit up to $55 million of the criminal penalty to fines owed to South African regulators as well as the forfeiture amount to any disgorgement or forfeiture paid to the SEC and South African authorities, which likely will result in no forfeiture amount paid to DOJ.

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ThomsonReuters

JULY 6, 2023

Business advisory services capitalize on the unique insight of accounting firms to make a profitable shift from serving clients as a once-a-year tax compliance processor to a year-round strategic business advisor. Today, technology can automate the entire tax compliance workflow. Why should accountants become business advisors?

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Audit Board

DECEMBER 7, 2022

2023 is shaping up to be a pivotal year for business leaders. On your connected risk journey, careful planning and guidance from audit, risk management, and compliance professionals are essential for business success when facing risk challenges such as digital transformation, climate change, supply chain disruption, and economic uncertainty.

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Complysci

FEBRUARY 11, 2022

And to help you prepare, we’ve gathered our top predictions for how we believe the next year will shape up. At the start of the new year, we released our top 2022 compliance trends. And based on the SEC’s trajectory, it seems our trends almost perfectly line up with our predictions for the 2022 SEC agenda.

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Audit Board

OCTOBER 16, 2022

Instead, it’s time to think about what you can do to start fresh in 2023. By focusing on “5 Risk Imperatives for 2023,” I hope to inspire audit, risk, and compliance professionals to start making concrete plans for prioritizing and acting upon the right risks and initiatives in the coming year. ERM, compliance).”.

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ThomsonReuters

FEBRUARY 16, 2024

Country-by-Country Reporting (CbCR) laws also complicate compliance matters. This lack of standardization and controls increases the risk of costly errors, undermines tax compliance, and may cause companies to take inconsistent tax positions that are more likely to be discovered by authorities.

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ThomsonReuters

AUGUST 22, 2023

For example, there may be high start-up costs for opening up shop in new countries. ” Additional compliance factors Regardless of the reasons for entertaining a global workforce strategy, a business must consider additional compliance factors when operating and/or hiring in another country. In the U.S.

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N Contracts

JUNE 30, 2022

The trend of moving to digital transactions that started during the pandemic shows no signs of slowing down. In the first quarter of 2022 alone, digital active users at Bank of America alone grew to 42 million, up 2 million from a year earlier, and 5 million since the start of the pandemic, according to a Motley Fool blog post.

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Audit Board

JUNE 29, 2023

The widespread adoption of digital transformation, accelerated since the onset of COVID, has created an urgent need for Information Security, Compliance, and Risk teams to navigate the risks associated with emerging software. Process automation remains a top priority to help companies respond to these changes. What Is Automation?

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Audit Board

NOVEMBER 1, 2023

When I used to work in SOX compliance at a large public company, we used a legacy tool. Common pain points like endless follow up, disparate records, and constant status updates prompted us to entertain alternatives to our current solution. Many audit, risk, and compliance folks don’t have software-buying experience.

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ThomsonReuters

MARCH 20, 2023

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. Forward-looking firms are increasingly moving beyond compliance by telling a compelling ESG story that sets their firm apart from the competition.

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Audit Board

NOVEMBER 21, 2022

As audit, risk, and compliance teams work to meet the challenges of identifying and staying ahead of novel ESG risks, they’ll need new ways of thinking — and new tools and tactics — to be successful. . Key opportunities for audit, risk, and compliance around ESG during the current voluntary phase — and the upcoming mandatory one. .

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Appraisers Blog

APRIL 18, 2024

Fitz, IRS compliance with USPAP has always been dubious at best. When TAF started calling us “valuators” is about the time IRS and AICPA “embraced” USPAP Though FIRREA has no bearing or weight when it comes to them. You can call 7 days a week up until about ten PM. In reply to Fitz. At least out west.

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ThomsonReuters

FEBRUARY 22, 2024

It works in a variety of ways, from “foundation models” which start using large volumes of relatively simple data to achieve complex outcomes, to “deep learning” which creates highly sophisticated models that can uncover hidden patterns by applying weighted parameters to data.

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Peak Business Valuation

DECEMBER 10, 2023

Whether you are starting, purchasing , or expanding a business , you may consider setting up an employee stock ownership plan. Start now by scheduling your free consultation with Peak Business Valuation below! Annual Compliance Reporting Requirements ESOPs are subject to various regulations and reporting requirements.

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Startup Valuation Blog

AUGUST 10, 2023

Start by comprehending the concept of equity incentives. Designing an Effective Plan An effective equity incentive plan starts with alignment. Compliance with securities laws is essential, especially if your startup plans to go public or be acquired. Your plan should be tailored to your company's goals and values.

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Startup Valuation Blog

AUGUST 10, 2023

Start by comprehending the concept of equity incentives. Designing an Effective Plan An effective equity incentive plan starts with alignment. Compliance with securities laws is essential, especially if your startup plans to go public or be acquired. Your plan should be tailored to your company's goals and values.

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Equity Business Valuation Compliance Start-ups 100

Audit Board

AUGUST 7, 2022

When introducing new compliance standards or revising existing regulations, the anticipation of changes can often create myths. Failing to separate fact from fiction can cause your organization to misunderstand how the compliance landscape will shift, leading to a failure to comply putting DoD contract eligibility and revenue at risk.

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ThomsonReuters

JULY 5, 2023

But according to Eric Berry, Director of Client Solutions at the trade-management firm Copper Hill , setting up an FTZ program is certainly a serious undertaking, but it isn’t as complicated as it may seem. Find out about best practices and how to set up an FTZ in a Thomson Reuters webinar What are the benefits of a Foreign Trade Zone?

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ThomsonReuters

FEBRUARY 27, 2024

She started her photography business in 2007 and built a client base while still doing accounting as her day job. Creating a CPA firm around flexibility Heit describes how a former group of colleagues had started an accounting firm around the same time she began her photography business.

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ThomsonReuters

JULY 25, 2023

Deciding which processes to automate will take some deliberation, because all companies are different – but IDT is a logical place to start. Thomson Reuters: If a business is doing tax determination and rate management manually, is it feasible that the tax team can keep up?

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Audit Board

FEBRUARY 28, 2023

In writing about “tick and bash” compliance work, a financial careers website recently quoted some firsthand experiences of working with the Big 4: “It’s the worst job I’ve ever had. What happens, though, is we end up working for Excel, feeding it with data, and attempting to connect and reconcile all of our standalone databases.

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Peak Business Valuation

MAY 9, 2024

Start today by scheduling your free consultation below! In addition, schedule a consultation to start a business valuation for buying a medical supply business. Regulatory Compliance: Compliance guarantees product quality and safety, enhancing trust and reputation. Schedule a Free Consultation!

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