Whether you manage a for-profit or not-for-profit, publicly held or privately owned organization, it is critical that a fraud risk assessment be performed to understand the company’s exposure and identify gaps in control coverage.
Our approach to assessing a fraud risk includes:
Identifying relevant fraud risk factors
Based on our experience, there are many potential fraud risk areas that organization can encounter. Some of the most common are cash manipulation, revenue misstatement or income manipulation, understatement of payables, thefts of inventory or other fixed assets, and kickbacks or fraudulently removing assets from the company to commit Foreign Corrupt Practices Act (FCPA) violations.
We welcome, Revident d.o.o., our new member firm in Bosnia and Herzegovina to the global accountancy network UHY, extending our coverage within Europe. The firm is in the process of adopting the UHY branding and will soon be known as UHY Revident d.o.o.
France’s new digital services tax applies a 3% tax to large digital companies, targeting revenue from online advertising, user data and intermediation platforms.
Kane Polakoff has joined UHY Advisors as Practice Leader of the Client Accounting Advisory Services (CAAS) practice.
After drawing much ire from taxpayers and tax professionals alike for a confusing, inaccurate tax withholding estimator, the IRS has released a revamped version that promises a new approach and an easier way for taxpayers to review their withholdings.
In recent months, many states have changed methods of allocating sales from the cost-of-performance to a more market-based sourcing.