Beneficial Ownership Information Reporting (BOI) The Financial Crimes Enforcement Network (FinCEN) of the United States Department of the Treasury has begun receiving reports of beneficial ownership. The bipartisan Corporate Transparency Act, which was passed in 2021 to combat illegal money,...

Holmes & Company Awarded A USDA SOC 1 Audit Due to our expertise in SOC audit, we have been awarded a SOC 1 examination of the United States Department of Agriculture for the Office of Chief Financial Officer of their...

Navigating the landscape of generative AI he AICPA & CIMA Engage 2023 session Inspector Gadget explored the intricate relationship between artificial intelligence and the impact of generative AI on the accounting profession. David Cieslak, CPA, CGMA, CITP, GSEC, executive vice president and...

Accountants are considering the full scope of digital assets Digital assets and blockchain, a shared public ledger that makes it possible to record transactions and track assets, have come a long way since the first bitcoin transaction more than 14 years ago....

Stephan A. Smith one of America’s most popular sports media figure tells it like it is in this surprisingly personal book, not only dishing out his signature, uninhibited opinions but also revealing the challenges he overcame in childhood as well...

Hidden in plain sight: Accounting for Embedded Leases. FASB’s new lease accounting standard is having a significant effect on a broad range of balance sheets for all types of entities, with some companies reporting financial obligations of billions of dollars....

4 Ways CFOs Can Do More With Less As many CFOs still look to grow in 2023, those who proactively cut spending where possible have a competitive edge. Organizational budgets, regardless of industry, are tightening. Accounting for the Fed proving...

Financial oversight is a key responsibility of nonprofit boards, but many members lack the understanding of finance or nonprofit accounting to effectively perform this duty. As their trusted advisor, a CPA is perfectly positioned to equip board members for this...

Holmes & Company Awarded Federal Contracts. Earlier this year the firm was awarded a contract to conduct a SOC 1 audit examination of a financial system operated by the United States Department of Agriculture (USDA). Holmes & Company was also...

Ensure Your Start-up Business Qualifies for Deductions Happy New Year and welcome back! This week, two recent cases illustrate the steps you can take to ensure your start-up business qualifies for deductions. Plus, the economy has been hard-hit by supply...