Dennis Gardiner, Managing Partner Our team members stay busy throughout the year completing the audit work and reports for you.  Along with staying on task, we have had a few new audit (AICPA) and reporting (FASB) standards to learn about and interpret as we ready ourselves for the upcoming audit season.  Here are the changes...

Dennis Gardiner, CPA, Managing Partner Our audit staff have been busy addressing many of the new standards that are now effective, or will be soon.  The big reporting standard has been FASB ASC 842 Lease Accounting.  You should all be aware by now of the requirement that leases longer than 12 months be recorded as...

Gardiner + Co. has spent the last few years researching artificial intelligence (AI) and now is the time for us to forge ahead with this technology. The firm will employ AI in some engagements in 2022 and will expand our use over the next few years to engagements that can benefit from it. The concept...

Since the Financial Accounting Standards Board (FASB) began the process of enhancing the lease accounting standard in 2006, and after several delays of the implementation dates, it seemed that maybe this would never become a reality, but the time has come. Accounting Standards Codification 842 – Leases became effective for companies with fiscal years beginning...

Materiality in an AuditAU-C Section 320, Materiality in Planning and Performing an Audit. Materiality is subject to the auditor’s professional judgment. We must consider the information needs of the financial statement users as a group. We apply materiality in (1) planning and performing the audit; (2) evaluating the effect of identified misstatements on the audit;...