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 our PKF Texas Contract Compliance Services team. Carlos, welcome back to the Playbook.

Carlos: Thank you, Jen.

Jen: So, we’ve talked about various aspects of contract compliance services in previous videos. And we’ve talked about the monetary benefits. What other benefits are there for a contract compliance type engagement?


Continue Reading The Benefits of a Contract Compliance Engagement

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

The Securities and Exchange Commission (“SEC”) recently issued Final Rulemaking Release No. 33-10825, “Modernization of Regulation S-K Items 101, 103, and 105,” which amends Regulation S-K disclosure Items:

  • 101, “Description of Business,
  • 103, “Legal Proceedings,” and
  • 105, “Risk Factors.”

photo angled towards the sky with four buildings converging to the center; image used for blog post for SEC Desk about amendments to Regulation S-K

These amendments, which are part of the SEC’s broader Disclosure Effectiveness Initiative, reflect changes that have occurred in the capital markets and the availability of information and aim to improve the information content of those items and to simplify compliance for registrants.

The main amendments to Regulation S-K from Release No. 33-10825 are as follows:


Continue Reading Amendments to Regulation S-K Help Simplify Disclosure Compliance

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: Thanks for having me again.

Jen: On our last video, you mentioned about franchise compliance, and that’s a type of audit that we do that we provide as part of our contract compliance services. What is a franchise compliance audit?

Carlos: Typically, the way a franchise is set up, they license a territory, certain rights; whether it be a restaurant, some type of service industry, from a franchisor who developed a plan, put together a program, how to really build a business. And so, when they license that right to get a franchise in a certain location, the franchisors just want to make sure they’re getting their—not only correct revenue, but that they’re obeying the terms of the agreement; whether that be marketing, advertising and treating the brand with respect.

Jen: Why should somebody be concerned if a franchisee is in compliance with their contract?


Continue Reading Franchise Compliance – A Closer Look

According to a July 1, 2019 Notice from the Office of Federal Financial Management, the 2019 Office of Management and Budget Compliance Supplement (2019 Compliance Supplement) is now available. It will replace the 2018 and 2017 Supplements and will apply to audits of fiscal years beginning after June 30, 2018.

a pencil lying beside an open notebook with the printed words "2019 Compliance Supplement"

The 2019 Compliance Supplement includes the following:


Continue Reading New 2019 Compliance Supplement Available