To thrive in today’s competitive landscape, businesses must constantly improve themselves to stay ahead of the curve. To achieve this, adopting a Standard of Excellence (SOE) is often a game-changer for businesses, but many of them don’t know where to start. That is why a Standards of Excellence consultant is often helpful, and we at Taurus CPA Solutions are here to explain how.
Peer reviews play a vital role for those in the accounting profession, particularly for CPA (Certified Public Accounting) firms. Peer reviews assess the firm’s compliance with professional standards, quality control measures, and overall audit quality. Below are a few reasons why CPA firms need peer review and why they’re essential in maintaining professionalism.
The Paycheck Protection Program (PPP) provided a financial safety net for small businesses across the country impacted by COVID-19. The program was able to pull many small businesses out of debt, or at least help keep them afloat. There are still a lot of questions associated...
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Small business owners aren’t always keen on the idea of a financial audit. Sometimes it feels like ignorance is bliss, but financial audits aren’t something to put off. While an IRS audit can be stressful, an internal audit or an audit conducted by a third...
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Selecting a quality peer reviewer is a critical step in ensuring that a firm’s peer review is efficient, cost-effective and adds value to the firm’s quality control policies and procedures. In a peer review, a CPA firm (like us) reviews the practices and procedures of another...
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