Thought Leadership

Community Concept

Tax Update for Nonprofit Organizations

The most recent tax reform legislation has affected almost every taxpayer in every industry, and nonprofits were no exception. The tax bill, known as the Tax Cuts and Jobs Act, altered a few key laws that exempt organizations have relied on for years. Understanding these changes can help nonprofit…

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Virus Alert

Are You Prepared for a Cyber Breach?

In today’s tech-driven world, where data breaches regularly break into headlines, every organization should have a cyber incident response plan. Unfortunately, too many organizations fail to create — and practice — such plans.

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Fraud Fact: Crooks Prefer Cash

It should come as no surprise that cash is the most popular target of fraud perpetrators. After all, once stolen, cash itself is virtually untraceable. But that doesn’t mean forensic accounting professionals can’t unearth cash fraud schemes — and the crooks behind them.

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Binders Stacked

What’s the Risk in Related-Party Transactions?

During an external financial audit, the auditors may particularly scrutinize related-party transactions. These transactions aren’t bad, necessarily, but they do raise concerns about the risk of misstatement or omission in financial reports. Back in 2014, the Public Company Accounting Oversight…

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Bogus Vendors May Be Costing Your Company a Bundle

Are you harboring fictitious vendors in your accounting system? These are vendors invented by an employee — usually someone with the authority to approve invoices — to embezzle from the company. Thieves fabricate invoices and deposit payments to the fictitious vendor in their own bank accounts.

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Modern Office

New Revenue Recognition Standard: Are You Ready?

Sweeping new revenue recognition requirements go into effect this year for private companies that follow U.S. generally accepted accounting principles (GAAP). However, many CFOs and controllers companies still have considerable work to do before they can comply. If you haven’t yet started…

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Spotting Financial Warning Signs for Nonprofits

Board members governing nonprofit organizations can’t miss signs of financial distress such as losing funding sources, defaulting on loans or leaving employees unpaid. Most of the time, though, such crises aren’t sudden; instead, there were subtle indicators that went unnoticed. By keeping an eye…

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