Jen: This is The PKF Texas – Entrepreneur’s Playbook®. I’m Jen Lemanski, and I’m back again with Matt Goldston, a director in our entrepreneurial advisory services group, as well as one of the faces of the PKF Texas bank advisory team. Matt, welcome back to the playbook.

Matt: Thank you, Jen. I appreciate it.

Jen: So, last time you were here we talked a little bit about, you know, being on the CFO side and what banks are requesting for field examinations. Let’s flip the switch a little bit. What types of services are banks requesting that we work with them on?


Continue Reading What to Know About Bank Advisory Services

Jen: This is The PKF Texas – Entrepreneur’s Playbook®. I’m Jen Lemanski and I’m back once again with Carlos Gomez, an audit manager, and one of the faces of PKF Texas’ Contract Compliance Services team. Carlos, welcome back to The Playbook.

Carlos: Thanks for having me, Jen.

Jen: So, we’ve been talking about different kind of audits throughout the series, and how about you share a little bit about what a royalty audit is.

Carlos: A lot of royalty audits that we performed is on behalf of a client who is not necessarily in a certain industry, whether it be consumer goods, toys, apparel, those types of things. And for this specific instance, we have a client who is in the automotive industry, and a way to build their brand recognition and loyalty is to have toys and have apparel. And so, a kid gets a truck, and his dad has a Ford F-150, and they get a Ford F-150 toy car for Christmas. It kind of builds that loyalty and brand loyalty.

Jen: So, when they’re building that brand loyalty, where does the royalty audit come in?


Continue Reading Royalty Audit – What is it and What are the Benefits?

Jen: This is The PKF Texas – Entrepreneur’s Playbook®. I’m Jen Lemanski, and I’m back again with Carlos Gomez, an audit manager and one of the faces of the PKF Texas Contract Compliance Services team. Carlos, welcome back to The Playbook.

Carlos: Hey Jen. Thank you.

Jen: In a previous episode, we talked about operational management audits, and you mentioned about findings and how we could find up to 10%. That sounds like a lot to me. What do we do in that process and what do findings look like?

Carlos: When we say 10% like that, that’s an industry standard throughout most contract compliance engagements. It’s 10% upon the amount of what we’re auditing or what our coverage is; whether it be gross sales or royalties, 10% is what we typically see. But we’ve had cases where certain clients I’ve seen have recovered 45% up to 100%, and that includes interest and audit fees on top of that, once those are recovered, because they meet a certain threshold within the agreement that now that third party is responsible for the fees. And then another great thing to keep in mind, too, is that the return on investment, like, our fees are never going to encompass the total amount that we find for you.

Jen: So, when we say recovered fees, what does that exactly mean? Is it something that was missing in the contract? Was it something that one of the parties didn’t do? Explain what that looks like.


Continue Reading Recovering Fees in Operational Management Audits – A Closer Look

Jen: This is The PKF Texas Entrepreneur’s Playbook. I’m Jen Lemanski, and I’m back again with Carlos Gomez, an Audit Manager and one of the faces of our PKF Texas Contract Compliance Services team. Carlos, welcome back to the Playbook.

Carlos: Hi, Jen.

Jen: Can you give me a little bit of background – what is a management or an operational agreement audit?

Carlos: What these typically entail is we have a client who has a third party that manages – whether it’s residential or commercial buildings – for them and their tenants.

Jen: What types of things are involved in this audit? Are there any risks associated with doing this type of audit?


Continue Reading Navigating Management Operational Agreement Audits

Jen: This is the PKF Texas Entrepreneur’s Playbook. I’m Jen Lemanski, and I’m back once again with Matt Goldston, a Director in our Entrepreneurial Advisory Services team. Matt, welcome back to the Playbook.

Matt: Thank you, Jen, I appreciate it.

Jen: So, I know we call it the EAS team, I know the EAS team has been working with bankers and our clients on the various intricacies of the Paycheck Protection Plan or “PPP.” How have you been working with banks on PPP-related items?


Continue Reading Navigating Through PPP Loan Forgiveness

There has been a trend of increased litigation over the reasonableness of retirement plan fees, which is impacted by a lack of fiduciary responsibility. PKF Texas Audit Senior Manager, Kristin Ryan, CPA, recently published an article on the Houston Business Journal website discussing important considerations plan sponsors should be thinking about.

open notebook with "notes" written at the top and a pen lying on the page; image used for blog post about Kristin Ryan Houston Business Journal article about retirement plan checks

In her article, Kristin

As trusted business advisors, we enjoy working with you to co-create ideas and co-develop innovative solutions for your business. Even amidst the COVID-19 pandemic, we still want to continue providing valuable information, including upcoming Houston events that we support, and think may be of interest to you.

  • KCA
  • Turnaround Management Association
  • Client Exclusive: SEC Webinar
  • National Association for Corporate Directors
  • Greater Houston Women’s Chamber of Commerce

If you have questions about any event details or registration information, the organization-specific contacts are below. We hope to see you at any or all of these Houston events!


Continue Reading Mark Your Calendars! Upcoming December 2020 Houston Events…

thumbnail image of a PKF Texas white paper about the November 18 PPP Loan ruling impacting tax planningThe IRS released new ruling and guidance on November 18, 2020 for businesses who received a Paycheck Protection Program (PPP) Loan, Revenue Ruling 2020-27 and Revenue Procedure 2020-51, which clarifies the tax deductibility of expenses related to loans that have not been forgiven.

The PKF Texas team wants to share with you a special

Companies have seen growth after entering third-party agreements, and even though there are benefits, risks can also come with the deal. The good news is these risks can be mitigated through monitored and managed with an effective program of internal and external controls. PKF Texas Contract Compliance Audit Manager, Carlos Gomez, recently published an article

Byron: Welcome to The PKF Texas Entrepreneur’s Playbook. My name is Byron Hebert. I’m the Chief Growth Officer here at PKF Texas, and today I want to introduce you to two of the faces of PKF Texas, Matt Goldston and Sam Razmandi.

We’re going to talk to you today about one of the services PKF offers: our Outsourced Controller and CFO Program in the Entrepreneurial Advisory Service Department. Both these guys are experts in this area, and so I’m really excited to introduce them to you. Let’s start with Matt.

Matt, why would a company outsource their controller or CFO function?


Continue Reading What are Outsourced Controller and CFO Services?