What Is a Significant Audit Area and Why Is It Important?

Accounting and Auditing Update (PPC) / By

When performing an audit, auditors are required to determine the client’s significant classes of transactions, account balances, and disclosures. Using the PPC approach, as outlined in our various audit guides, such as PPC’s Guide to Nonpublic Companies, we use the term significant audit area interchangeably with significant class of transactions, account balance, or disclosure. What Makes an Audit …

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Appeals Court Rules Against Race-based Grant Program

Nonprofit Update (PPC) / By

On June 3rd, 2024, the U.S. Court of Appeals for the 11th Circuit temporarily suspended an Atlanta-based venture capital firm‘s grant program that was restricted to businesses that are at least 51 percent owned by black women [American Alliance for Equal Rights v. Fearless Fund Management LLC, et al.; 103 F. 4th 765 (11th Cir. 2024)]. …

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Regulators Indicate Areas of Inspection Focus to Ensure Quality in Audits

Accounting and Auditing Update (PPC) / By

The Public Company Accounting Oversight Board (PCAOB) and the UK’s Financial Reporting Council (FRC) have recently announced their areas of focus for upcoming inspections and supervisory reviews of audit engagements. The PCAOB regulates audits of public companies and SEC-registered brokers and dealers. The FRC regulates auditors, accountants, and actuaries and sets the UK’s Corporate Governance …

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Business Technology

How the New Risk Assessment Standards Affect Information Technology

Governmental Update (PPC) / By

In the last two editions of this newsletter, we published a two-part article on how SAS No. 145, Understanding the Entity and Its Environment and Assessing the Risks of Material Misstatement, will affect governmental audits. This article examines in more detail the new information technology (IT) requirements that will affect governmental audits. Auditors will begin applying …

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Capitol building US

US House Panel Approves Repeal of Biden Independent Contractor Rule

Payroll Updates / By

By Daniel Wiessner, Reuters Summary: A Republican-led U.S. House of Representatives committee on Thursday advanced a proposal to repeal a Biden administration rule heavily criticized by trade groups that makes it more difficult for companies to treat workers as independent contractors rather than their employees. The House Committee on Education & the Workforce approved the …

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SDA helped us put together a successful bid for creating our massive entertainment village in downtown Ft. Lauderdale. They're amazing to work with! Very professional and supportive. We look forward to continuing to work with SDA as we grow.
Jeff John, Damn Good Hospitality Group
JEFF JOHNCEO, Damn Good Hospitality Group
SDA served as a consultant for us while we were doing project management for a construction job. They have excellent business acumen, are highly professional and truly value being a partner with us. We enjoy our relationship with SDA and look forward to continued future success.
MARK BLANCHARD
MARK BLANCHARDVP Strategic Development, AECOM
We’ve worked with SDA for several years on various projects within our legal and finance departments. They also helped us secure a grant for our new practice facility in downtown Fort Lauderdale. SDA really is the smarter way to do business!
Matthew Caldwell
Matthew CaldwellPresident & CEO, Florida Panthers Hockey Club
Tanya and the SDA team have done a great job for us - especially in helping us navigate and resolve some complex issues surrounding our audit work. They've been a consultant for us for a number of years and have also been consistently supportive of our community efforts. We truly value our relationship with SDA.
W. Ajibola Balogun - City Manager, City of West Park
W. Ajibola BalogunCity Manager, City of West Park
SDA has always done excellent work. Our financial auditing and bond control reviews are completed thoroughly and timely, and their team has been very accessible to help us address and analyze key issues whenever they may arise. In short, they’re a solid business partner we’re grateful to have.
Jennifer Andreu
Jennifer AndreuFormer Assist. Super., Miami-Dade County Public Schools
We are so pleased with the experience that we’ve enjoyed over the past 20 years with SDA. All of you were so timely and resourceful, serving as a trusted business partner, assisting with our fiscal controls, handling our financial auditing, smart bonds work and more. We couldn’t be happier with your services.
Torey Alston
Torey AlstonBoard Member, Broward County School Board
As the mayor of one of South Florida’s leading cities, I know it takes an incredible team around you in order to achieve a citywide vision for your constituents. SDA is one of those highly reliable teams I’m proud to say supports us well in our efforts of continuous improvement, accountability and transparency for the people of the city of Miramar.
Mayor Wayne Messam
Mayor Wayne MessamCity of Miramar, Florida
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