Navigating the New Meals and Entertainment Deductions under TCJA
By: Marc Neri, EA, CVA | Supervisor, Tax It is common for businesses to dine and entertain clients, vendors, and potential employees as part of their efforts to maintain beneficial business relationships. While these expenses are both common and allowable, the related tax benefits may be long gone thanks to tax reform.1 In 2017, Congress…
Why Associations Are Implementing Enterprise Risk Management (ERM)
By: Melissa Musser, CPA, CITP, CISA | Principal, Risk & Advisory Services For years, associations have taken a siloed approach to risk management, focusing on areas like cybersecurity. More are now widening their nets, using ERM to ensure unexpected dangers don’t derail their association. When it comes to risk management, some may think of areas…
What Every Board Member Should Know about the Financial Statement Audit
By: Omid Mohebbi, CPA | Audit Supervisor As members of a nonprofit board of directors, you and your board colleagues are charged with considering a variety of matters as part of your fiduciary duty to safeguard the organization. Even if you are not part of a designated audit or finance committee, as a member of…
QuickBooks is an Accounting Software Solution for Some Government Contractors
By: John R. Pace, CPA, CVA | Partner and Director of Outsourced Accounting and Advisory Services Organizations who do business with the federal government or accept federal funding are often discouraged by some in the industry from using Intuit QuickBooks for their accounting. However, our experience serving government contractors has taught us that QuickBooks is…
An Audit Committee Offers Substantial Value Beyond the Audit
By: Laura Malcom, CPA | Audit Manager Most nonprofit organizations today are led by a volunteer board of directors responsible for helping the group achieve its mission while providing sound governance and financial management1. In keeping with their fiduciary duty to provide effective financial oversight, many boards appoint an audit committee if not already required…
