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Dave Van Damme

Dave Van Damme

Shareholder, Advisory & Assurance

Leading the firm's advisory & assurance group, Dave supports closely held businesses with audits, financial reporting and fraud analysis.

What is your area of focus?

I work within the advisory & assurance practice, primarily with privately-owned domestic companies or subsidiaries of larger foreign-owned and operated companies throughout Europe and Asia. Working closely with owners, chief financial officers, and plant managers gives me a deep understanding of clients’ business goals so that our firm can provide the right mix of technological and consulting support. I am focused on the fundamental practices and internal controls required to mitigate risk and, as a certified fraud examiner, help clients become better educated on the best practices to help prevent fraud.

How long have you been at Clayton & McKervey?

Since 2008

What is the favorite part about your job?

I appreciate the access to the best resources in the industry – the shareholders, managers, seniors and staff that contribute to continuous improvement and development.

Specializations

  • Audits of closely-held companies
  • Internal control analysis
  • Fraud/data extraction analysis
  • Accounting for construction/contractor inventory
  • Financial statement and agreed upon procedures reporting
  • Financial reporting automation
  • Employee benefit plan audits

Education

  • Bachelor of Science in Accounting, Oakland University

Connections

  • Turn Around Management Association
  • Risk Management Association
  • Michigan Association of Certified Public Accountants

Dave 360°

What is your favorite movie line?
Ricky: Why do you want to listen to the TV with the stereo on? Cal: Because I like to party.

If you could learn anything, what would it be?
Sports. Followed by how to speak Spanish & fly a plane

If you had to choose a different job, what would it be?
Fighter jet pilot

Articles by Dave Van Damme

Do You Have to Adopt the FASB Revenue and Lease Standards?

Do you provide monthly or quarterly financial statements to your bank or other stakeholders? Learn if US GAAP or FRF for SMEs is the better reporting framework for your business.

by Dave Van Damme

Why Your Company’s Financial Statements Matter

While anything with a dollar sign may be considered a financial statement by some, the term ‘financial statements’ is used in accounting and in business as a specific set of financial reports that businesses prepare at recurring intervals—monthly, quarterly, or annually. Regardless of the size of your business, they’re essential.

by Dave Van Damme

Understanding Your Cash Flow is Important-Here’s Why

Managing cash flow in a business should go far beyond ensuring that you have funds available to pay your current bills. While that’s a threshold every new business should meet, developing deeper cash flow management skills is necessary to scale your business and prevent unnecessary stress. 

by Dave Van Damme

ESG: Importance, Impacts, & Implications

You might be noticing more discussions about Environmental, Social, and Governance (ESG) initiatives and wondering if they impact you. Learn how ESG reporting can provide stakeholders with transparency regarding the risks and opportunities your company faces related to environmental, social and governance issues.

by Dave Van Damme

Are Your Financial Statements Telling the Right Story?

You made it through the adoption of the much-anticipated U.S. GAAP changes to the revenue recognition standard and thought things would get back to normal. Then the pandemic hit, and nothing was normal. Learn about the new U.S. GAAP accounting standard, and why you might want to consider FRF for SMEs instead.

by Dave Van Damme

New FASB Leasing Standard Updates and Guidance

After several adoption date delays, it’s now time to get serious about adopting the new leasing standard. Businesses must begin using the standard in their 2022 fiscal year, and start preparing in 2021. Here is a summary and some important considerations.

by Dave Van Damme

Payroll Fraud: What to Look for and How to Prevent it

Fraud is an unfortunate part of business. It can happen anywhere and to anyone, and sometimes can be at the hands of seemingly trustworthy people. Learn how we can help you survey the current environment for fraud and reinforce best practices for fraud prevention. 

by Dave Van Damme

How Remote Work Has Impacted Auditing

Auditing relies on two things more than anything else: having access and being in person. 2020 had other plans. Forced out of offices and forbidden to travel, auditors and firms across the globe have needed to adapt quickly to the world of remote work and all the issues that come with it.

by Dave Van Damme

Financial Reporting Implications Due to COVID-19

COVID-19 has clearly disrupted life as we know it. Despite these disruptions, businesses continue to operate (some at an altered state) and therefore are required to provide financial reporting to stakeholders.

by Dave Van Damme

Accounting for PPP Loan Forgiveness

We have been receiving many questions lately about the PPP loan and forgiveness requirements. Here are some of the most common questions we are hearing from companies along with some initial guidance on what to do.

by Dave Van Damme

Turns on Inventory – Systems and Processes to Monitor Inventory Levels

You’re in the wholesale or distribution space and have a huge asset, called inventory, which needs to be converted to cash, but you aren’t great at tracking or counting it and you are not really sure which items are sitting.  So what do you do? 

by Dave Van Damme

by Jim Biehl

FASB Delays Implementation for Revenue Recognition and Leases

The Financial Accounting Standards Board (FASB) voted on Wednesday, May 20 to delay the effective date of the Revenue Recognition Standard by one year for all nonpublic companies who have not issued financial statements yet.

by Dave Van Damme

The Sound of Automation Podcast

Industrial automation businesses are the driving force behind Industry 4.0, and Clayton & McKervey is here to help.

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