Category: Advisory

Future-Ready your Accounting Department with a Strategic Move to the Cloud

By Yevgeniy Sukhenko, Senior Controller, Outsourced Accounting & Advisory Services The COVID-19 pandemic only accelerated the inevitable for accounting departments around the globe. In March 2020, businesses and nonprofits moved to the cloud quickly and abruptly, whether the organization was ready or not. The days of operating an accounting department with only software housed on…

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Next Steps for Organizations Responding to the COVID-19 Crisis

Key Considerations and Tools for Planning a Safe and Productive Return to Workplace Guide   By Melissa Musser, Principal, Risk & Advisory Services Many state and local governments are making plans to open businesses and get the economy moving again. For organizations that have closed their offices and storefronts to work remotely since mid-March, there…

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Continuity of Operations Considerations for Nonprofits during a Pandemic

Business Continuity Plans (BCP) are important part of risk management and can include scenarios such as pandemics like the coronavirus, government shutdowns, natural disasters and cyberattacks. Risk management planning for a pandemic involves identifying risks and assessing the impact and developing mitigation strategies to manage risks. If your nonprofit does not have a plan in…

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Elements of Successful Nonprofit Cybersecurity

By Darren Hulem, IT & Risk Analyst Nonprofits are more reliant on technology than ever before to deliver on their mission. The integration of digital technology into all aspects of the organization, or digital transformation, provides a number of new opportunities, but it also provides the possibility for additional security issues. Not only are there…

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The Bow Tie Method Addresses Risk Holistically

By Jay Mui, PMP, MBA | Supervisor, Risk & Advisory Services Well if you are being literal, 17th century Croatian mercenaries would use a scarf to hold together the openings at the neck of their shirts. King Louis XIII, a great employer of these mercenaries, so enjoyed and promoted this look that it soon became…

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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…

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The EU’s GDPR is Applicable to US Companies. Is Your Organization in Compliance?

By Darren Hulem | Network Administrator Auditor GDPR, also known as General Data Protection Regulation (EU) 2016/679, was a regulation passed by the European Union (EU) in 2016 aimed at data protection and privacy for individuals within the EU. Enforcement, which began on May 25, 2018, has the potential to affect companies outside of the…

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Forensic Auditing and Artificial Intelligence Help Detect Fraudulent Activity

By Mac Lillard, CPA, CFE, CITP, CISA, PCIP | GRF Audit Supervisor Fraud prevention is one of the most important aspects of an effective organizational risk management strategy. According to the Association of Certified Fraud Examiners (ACFE) 2018 Report to the Nations, there were 2,690 cases of occupational fraud, resulting in $7+ billion in total…

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Internal Audit is a Critical Investment for Nonprofit Organizations

By Mark Tessar, CPA, CIA | Nonprofit Audit Supervisor By their nature, tax-exempt entities are under extraordinary scrutiny. With the IRS, external auditors, donors, watchdogs and stakeholders all analyzing their finances, nonprofit organizations must implement effective internal controls that decrease the likelihood of fraud, accounting mistakes or other inappropriate accounting practices that could impact the…

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Vulnerability Scanning and Penetration Testing Offer Tools for a Strong Security Posture

By Darren Hulem | Network Administrator Auditor In the movies, hackers sit in front of a computer typing a few lines of code and suddenly they have access to all of the victim company’s systems. While cybercrime does not happen like it is portrayed in the movies, it has become a common theme in recent…

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GRF CPAs & Advisors Makes List of Best Firms for Young Accountants