Category: Audit and Assurance

“I’ll do your family’s dental work for free if you build a deck onto my house.” If you’re in the construction industry, you’ve probably received an offer like this or made a similar offer to someone else in a different line of business. It’s a modern variation of the age-old practice of barter. What makes it especially intriguing in this day and age is the idea that you can exchange services or products with someone without exchanging money. Keep in… Read more ›

IRS examiners usually do their homework before meeting with taxpayers and their professional representatives. This includes reviewing any relevant Audit Techniques Guides (ATGs) that typically focus on a specific industry or audit-prone business transaction. Though designed to help IRS examiners prepare for audits, ATGs are available to the public. So, small business taxpayers can review them, too — and gain valuable insights into issues that might surface during audits. Auditor Specialization In the past, IRS examiners were randomly assigned to… Read more ›

Audits have become more important due to increased public and government scrutiny of not-for-profit organizations, their management and their boards. Audits not only provide you with a fair assessment of your organization’s financial health, but also can reveal vulnerabilities such as weak internal controls, insufficient cash reserves and poor investment policies. Perhaps most important, regular audits reassure your donors, members and other stakeholders that you run a fit organization. Ins and Outs Audits come in two forms, serving different purposes:… Read more ›

CBM’s Director of Not-for-Profit Services Dan Weaver, Senior Vice President Judy Barnhard, and Senior Advisor Tony Cuozzo are scheduled to present at the 2020 Greater Washington Society of CPAs’ (GWSCPA) Nonprofit Symposium from Monday, December 14 through Wednesday, December 16. The Symposium is an annual two-day event that delivers networking and professional education opportunities for hundreds of financial professionals in the not-for-profit sector throughout the Washington, DC metropolitan region. Due to COVID-19, this year’s Symposium will be held virtually. Mr…. Read more ›

This photo, published after symposium, shows Dan Weaver (Right) and Julia Lafferty (Middle), Councilor, Buchanan & Mitchell (CBM)’s presenters at the 2018 Symposium, with Principal Mollie Lambert. November 19, 2018 (Bethesda, MD & Washington, DC) – Daniel L. Weaver, CPA, Anthony A. Cuozzo, Jr., CPA, CGFM, and Julia Lafferty, CPA, respectively senior vice president/director of not-for-profit services, senior advisor and nonprofit principal at Councilor, Buchanan & Mitchell (CBM), will present at the Greater Washington Society of CPAs’ 2018 Nonprofit Symposium. The… Read more ›