Robert Tarola's Tumblr Blog

Robert Tarola is president of Right Advisory, LLC, which he founded in November of 2008. Right Advisory is a consulting firm that offers services in complex litigation, corporate finance, risk assessment for auditors, and financial issues for troubled businesses. Robert Tarola brings his unique perspective to Right Advisory with his extensive experience as a public company director, chief financial officer, audit partner, and investor relations officer. In addition to his current role at Right Advisory, Mr. Tarola serves as director and chair of the audit committee at TeleTech Holdings, Inc., director and trustee of Legg Mason Mutual Funds, and director and treasurer of the American Kidney Fund. In addition to his diverse professional experience, Robert Tarola has remained active in a number of professional organizations, including the American Institute of Certified Public Accountants and the National Association of Corporate Directors and the Maryland Association of Certified Public Accountants.

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Digital Financial Statements are Important to Investors and Should be Audited

Technology is driving change in financial reporting. Where once financial statements would be read like a book, they are now being consumed digitally through standardized tagging supported by regulators throughout the world. That trend is increasing as regulators move to a “digital-only” reporting framework.

The problem is that the digital financial statements are not (yet) required to be audited - despite a groundswell of interest by investors and analysts. The auditing profession is encouraged by investor advocacy groups to determine how best and to quickly assume responsibility for digital financial statements.

What do you think?

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Accounting for Leases - A Ticking Clock for All Companies

All US and most non-US companies must adopt a new lease accounting framework over the next one-to-two years. That framework requires the recording of assets and liabilities for all leases greater than one year in duration. Previously "off-balance sheet" leases will need to be analyzed, documented and re-measured for accounting purposes.

The challenge to do so can be daunting. Companies will have to identify, catalogue, assess and calculate a new lease liability for financial reporting. In essence, moving footnote information onto the balance sheet. And these calculations can be complex.

It is important for companies to begin the process now. And where leasing is significant, consider the tools and time needed to get it done right. In most companies this will likely require specialized lease administration software as well as a dedicated team to complete the project.

Stay tuned for additional information and insights on implementation and services to support the implementation.

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Robert Tarola Scheduled to Speak at Upcoming Western CPE 2014 Conference

Robert Tarola to speak at “Western CPE 2014 Industry Professionals Conference” on February 24, 2013 from 10:30am-1:10pm regarding Risk Management. Conference dates are: February 24 – February 28, 2014. Please see link for additional information: http://www.westerncpe.com/wcm/_Conferences/2013_Conferences/2014_Industry_Professionals_Conference.aspx?WebsiteKey=3220d5ac-cd44-4f72-87b8-5820b3736590&hkey=45d1fec5-6995-4283-82a9-ae81df565ea0&Tabs=2

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Right Advisory LLC Launches New Website

Right Advisory LLC is pleased to announce the launch of its new enhanced website, stated Robert M. Tarola, president. Right Advisory's new site provides a more comprehensive source of company information and services such as important links, testimonials and current news. Please visit www.rightadvisory.com today!