GRF Financial Foresight

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Advisory, Enterprise Risk Management, Internal Audit | Businesses and Individuals, General Business, Government Contractors, International NGOs, Nonprofit, Nonprofits and Associations, Professional Services

How Internal Audit Can Support Whistleblower Investigations

By Melissa Musser, Partner and Director GRF Risk & Advisory Services, President of the IIA Washington DC Chapter. Do you know if an employee is stealing from your company?  Quite often, the first hint of a problem comes from an insider tip. Having a comprehensive whistleblower program in place is a powerful early warning mechanism…

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Tax Planning and Preparation | Businesses and Individuals, General Business, Government Contractors, Professional Services

Top 5 Tax Tips for Small Business Owners

By Jennifer Galstad-Lee, Senior Manager, Tax Services Small business owners have double-duty during tax season – preparing and filing their own taxes as well as taxes for their small business. With so many demands on their time already, tax season can be cause for dread, but advance planning and organization can make life a little…

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Employee Benefit Plans | Businesses and Individuals, Nonprofits and Associations

SECURE 2.0 Act Requires 401(k) Plan Administration Changes for Employers

The 401(k) plan is the most popular employer-sponsored retirement plan in the United States. As of September 30, 2022, more than $6.3 trillion in assets were held in 401(k) accounts by more than 60 million active participants, as well as millions of former employees and retirees. So 401(k) plans are a key payroll responsibility for most businesses….

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Advisory, Cybersecurity, Enterprise Risk Management | Businesses and Individuals, General Business, Government Contractors, International NGOs, Nonprofit, Nonprofits and Associations, Professional Services

Essential stages of a third party risk management program

Developing and maintaining a third party risk management (TPRM) program can help to reduce the overall risk to your organization. What is TPRM?  In short, it is the process of analyzing and mitigating risks associated with working relationships with outside entities. These parties can include everyone from contractors providing janitorial services to suppliers of a…

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Advisory, Cybersecurity, Enterprise Risk Management | General Business, Government Contractors, International NGOs, Nonprofit, Nonprofits and Associations, Professional Services

Four Things You Can Do Today to Improve Your Cybersecurity Posture

Cybersecurity is always changing and evolving as threats grow. Here are ideas that you can start on today that will help reduce your risk and improve your cybersecurity posture: 1. Require Multi-Factor Authentication Having multi-factor authentication (MFA) is essential for granting access to confidential data. It helps to reduce the risk of credential loss and…

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Accounting Technology | Nonprofits and Associations, Professional Services

I’m Often Asked, “What’s the Difference Between an ERP and a CRM?”

By Jim Norton, CPA, Principal, Accounting Technology Solutions It all starts to sound like alphabet soup after a while, but modern organizations are increasingly dependent upon cloud technology to get things done. In fact, remote work demands that data reside in the cloud so that work can be done anywhere and at any time. Over…

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Compliance, Outsourced Accounting | General Business, Government Contractors, Professional Services

2023 National 8(a) Association Conference Trends

This premier annual conference provides education and supplier diversity networking for small businesses. This year’s event was held at the Hyatt Regency New Orleans from February 13 through 15 and was sold-out. Clearly, many small businesses are ready to travel again for in-person events! In addition to making introductions to federal agencies and prime contractors,…

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Advisory, Outsourced Accounting

Wakeup Call: Protecting your Nonprofit from the Banking Crisis

By Elinor Litwack, Partner, Outsourced Accounting & Advisory Services As the 2023 banking crisis unfolds with the recent collapse of Silicon Valley Bank (SVB) and Signature Bank, all eyes are on what happens next. Fueled by the “blame game” and the media frenzy around vulnerabilities in the banking system, many businesses and consumers have lost…

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Enterprise Risk Management | International NGOs, Nonprofits and Associations

Workshop Highlights: Navigating the World of Uncertainties Impacting Non-Profit Organizations

The 4th Annual GRF /NC State ERM Workshop for Nonprofits was held on February 23 and 24, 2023. Nonprofit executives and board members from across the U.S. came together to share their experiences and discuss strategies and tactics for strengthening enterprise risk management at tax-exempt organizations. Melissa Musser, Partner and Director of GRF’s Risk Advisory…

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Employee Benefit Plans, Tax Planning and Preparation | Businesses and Individuals, Government Contractors

State-Mandated Retirement Plans: An Overview for Businesses

By Jennifer Galstad-Lee, CPA, JD, Senior Tax Manager Many Americans are not saving enough for retirement – in fact, a recent survey by the Federal Reserve found that a quarter of working adults have no retirement savings at all. To address this growing crisis, a number of states are enacting laws that require private businesses…

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