Category: Business

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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Consider a Virtual CISO to Meet Your Current Cybersecurity Challenges

By: Melissa Musser, CPA, CITP, CISA, Risk & Advisory Services Principal, and Darren Hulem, IT and Risk Analyst The COVID-19 crisis, with a new reliance on working from home and an overburdened healthcare system, has opened a new door for cybercriminals. New tactics include malicious emails claiming the recipient was exposed COVID-19, to attacks on…

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SBA Provides Clarification on PPP Loan Subjection to Single Audit Requirements

By Tricia Katebini, CPA, MBA, Senior Manager, Audit On May 5, 2020 the Government Audit Quality Center (GAQC), issued an industry alert to professionals that serve organizations subject to Government Auditing Standards. Summarized below are two key items that impact the nonprofit community. PPP loans are not subject to single audits As many are well…

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Retirement Plan Options during the COVID-19 Crisis

By Jennifer McCahill, CPA, Partner Individuals and organizations are looking for ways to gain access to cash during this time of financial and economic uncertainty. As Congress and the Administration discuss additional aid packages, we are seeing changes to the traditional regulations that would allow individuals and organizations to access funds through retirement plans. There…

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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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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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Invest Time and Resources to Improve the Month-End Close Process

By Sharon Carbonell, CPA | Manager, Outsourced Accounting and Advisory Services For many who work in the finance department of a nonprofit or for-profit business, the month-end close process is a constant source of strain. Inefficiency and operational ambiguity are sore spots in particular, generally the result of manual data entry, lack of coordination, deficient…

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TCJA Offers Innovative Ways to Deliver Client Service

By Stephen Boisvert, CPA, MST, CExPTM | Tax Manager It should be no surprise that the topic of the day in the field of income taxes is the Tax Cuts and Jobs Act (TCJA). Like other tax reform packages in the past, the TCJA is a mixed bag of legislation. Some of it will affect…

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Foreign Bank Account Reporting – New Due Dates and Recently Announced Extensions

The FinCEN Form 114, Reports of Foreign Bank and Financial Accounts (FBAR), is filed by taxpayers (both individuals and entities) that have a financial interest in, or signature authority over, a foreign financial account.  In prior years, the FinCEN Form 114 required filing by June 30 to report foreign accounts for the previous calendar year…

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