Audits

News & Analysis as of

GAO Issues Preliminary Report on Challenges in Auditing Large Partnerships

The Government Accountability Office (“GAO”) recently issued a preliminary report on the challenges in auditing large partnership returns, a copy of which is available here. The GAO issued an interim report earlier this year...more

An Ounce of Prevention in Health Care — The Importance of Periodic Corporate Audits

Most, if not all, health care providers operate their businesses in an entity form, such as a corporation or limited liability company (LLC). Many use multiple entities—for example, one entity to own the real estate (or a...more

Scripts Newsletter - October 2014

In this issue: - Health Care Decisions — Who Decides? - Medical Software Licensing — Tips from the Trenches - An Ounce of Prevention — The Importance of Periodic Corporate Audits - ACA -...more

Information Security Training Master Class: Winning the Battle against Data Breaches, Malicious and Negligent Employees, and...

The Human Element of Information Security, Continued - In Part One of this series, I laid out data breach statistics that were at best startling, and at worst downright terrifying. Thankfully, a large percentage of the...more

Lessons from GSK in China – Internal Controls, Auditing and Monitoring

One of the questions that GSK will have to face during the next few years of bribery and corruption investigations is how an allegedly massive bribery and corruption scheme occurred in its Chinese operations? The numbers went...more

Final Deadline Imminent for Enrolling in Delaware VDA Program

The enrollment period for the Delaware Secretary of State’s Voluntary Disclosure Agreement Program (the Delaware VDA Program) for unclaimed property reporting closes next week on September 30, 2014. Delaware has previously...more

12 Trends in Employment Discrimination Litigation: Proactive Employers See Fewer Claims

Fresh off a presentation on retaliation claims and defense at The American Conference Institute Employment Discrimination Litigation Conference in New York City, Dinsmore employment attorney Mike Hawkins shared 12 key trends...more

IRS releases final LIHTC Audit Technique Guide

Yesterday the IRS released a long-anticipated update to its Audit Technique Guide for the low-income housing tax credit (“LIHTC”) program. The guide is intended to assist IRS examiners charged with auditing owners of LIHTC...more

HIPAA Omnibus Rule: Deadline Approaching to Update Grandfathered Business Associate Agreements

Although the HIPAA Omnibus Rule (the “Rule”) went into effect nearly 18 months ago, the transition period for bringing business associate agreements into compliance with the Rule’s new requirements will end on September 23,...more

D.C. Circuit Declines Hospitals’ Plea for Relief from CMS Catch-22

Here’s how the catch works. A hospital admits and treats a Medicare patient who needs care. The hospital bills Medicare and gets paid. Later—usually much later—a RAC auditor rules that the patient needed only outpatient care...more

Nevada Supreme Court Upholds Fraud Verdict Against The California Franchise Tax Board

The Franchise Tax Board’s Shande - This is case that has been more than two decades in the making. It began in the 1990s when inventor Gilbert Hyatt filed a California tax return showing that he relocated from...more

PCAOB Urges Audit Committee Scrutiny of Revenue Recognition

The PCAOB recently issued Staff Audit Practice Alert No. 12, which outlines significant audit deficiencies relating to revenue that PCAOB inspections have identified. ...more

U.S. Supreme Court Update - September 2014

The Supreme Court is set to hear three state tax cases during its 2014-2015 term. The three cases, Alabama Department of Revenue v. CSX Transportation, Inc.; Comptroller of the Treasury of Maryland v. Wynne; and Direct...more

September 22, 2014 – HIPAA Compliance Deadline for Business Associate Agreements Is Just Around the Corner

All business associate agreements (“BAAs”) must be updated and compliant with current Health Insurance Accountability and Portability Act (“HIPAA”) regulations by September 22, 2014. Failure to meet this deadline could result...more

PA Tax Law News - September 2014

In This Issue: - Sales Factor Sourcing of Services & Intangibles - Nonresident Limited Partners Liable for Personal Income Tax - PA Appeal Systems Changes Update - Personal Responsibility for...more

Windows Desktop Licensing Can Be As Perilous As Any Other Microsoft Product

Windows often is a significant source of audit exposure. Scott & Scott, LLP attorney, Christopher Barnett, discusses the issues involved in documentation for Windows licenses....more

Canadian government vs. Ottawa think tank - a battle of bias

Classic case of they said, they said - Last year, the Canada Revenue Agency began auditing an Ottawa-based think tank, accusing the company of being “biased and one-sided.” Now, more than 400 academics are demanding...more

OCR Reveals Information about Upcoming HIPAA Audits

At the Healthcare Information and Management Systems Society (“HIMSS”) Privacy and Security Forum this week, health information privacy senior advisor for the Office for Civil Rights (“OCR”) Linda Sanches revealed certain...more

HUD OIG report critical of asset repositioning fee calculations

HUD’s Office of Inspector General (OIG) issued an audit of HUD last week pertaining to awards of asset repositioning fees (ARF), the funds that public housing authorities (PHAs) may receive in connection with demolishing or...more

PCAOB Again Finds Broker-Dealer Audit Deficiencies. Observation: Experience Is the Best Indicator for Choosing an Audit Firm

For the third year in a row, the Public Company Accounting Oversight Board (PCAOB) has found shortcomings in the audits of broker-dealers, a trend that could lead to firms spending more to get their books reviewed. The third...more

Worker Classification Task Force Established in Virginia

On August 14, 2014, Virginia Governor Terry McAuliffe signed Executive Order 24 to establish an inter-agency task force on worker misclassification and payroll fraud. The task force is a response to a 2012 report of the...more

Whether 1992 Or 2013 Version Of COSO Framework — Disclose In Management’s And Auditor’s Internal Control Reports

Last week, I posted a piece regarding the “squishy” deadline (to borrow the term of art coined by the COSO Chair) for implementation of the new 2013 COSO internal control framework. As you may recall, the original 1992 COSO...more

Hodgson Russ's Tim Noonon on the Groundbreaking New York Residency Tax Case Gaied v. NYS Tax Appeals Tribunal [Video]

New York’s highest court recently issued a groundbreaking decision on the state’s residency rules — one of the first times that court has addressed this important New York tax issue. The case, Gaied v. New York State Tax...more

European “Cookie Sweep” Initiative – 15 - 19 September 2014 – Is Your Website Ready?

The European data protection authorities will be conducting a “cookie sweep” later this month, carrying out random spot checks on websites to assess for compliance with EU “cookie” laws. Businesses should therefore be...more

Avoiding and Defending Florida License Tax Audits

Florida hotels and restaurants are facing license tax audits, assessments and penalties in increasing numbers. A "license" is statutorily defined as the granting of a privilege to use or occupy a building or real property....more

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