Working a Family Business into Your Estate Plan
If you own a family business, it’s probably one of your most significant personal assets. It’s important to take the proper estate planning steps to ensure that the business lives on after you’re gone — if you don’t, you may be placing your family at risk. Ownership vs. Management Succession One reason transferring a family…
Strengthening IT Security: One Nonprofit’s Journey to Meet SAS 145 Requirements
In response to growing IT and cybersecurity risks, auditors are placing greater scrutiny on IT risk and risk controls in their audit process. The Auditing Standards Board issued a new Statement on Auditing Standards (SAS 145) that provides a more detailed risk evaluation framework and takes effect for all audits ending on or after December…
2024 Update on Retirement Plans: Cyber Best Practices
Cybersecurity remains a crucial concern for retirement plan administrators and sponsors. Ensuring the security of sensitive data and maintaining compliance with regulatory requirements is essential to protect plan participants and maintain trust. GRF hosted a 2024 Update on Retirement Plans webinar on May 16th, 2024, which outlined key cybersecurity best practices recommended by the Department…
2024 Update on Retirement Plans: Impact of SECURE Act 2.0
The SECURE Act 2.0 is transforming retirement planning by encouraging savings, enhancing retirement plan rules, and reducing employer costs. GRF hosted the 2024 Update on Retirement Plans on May 16th, 2024, where we explored the significant changes introduced by the SECURE Act 2.0. The session provided a comprehensive overview of the new provisions aimed at…
Treating a Stock Purchase as an Asset Acquisition
When it comes to acquiring a business, stock and asset purchases have their advantages and disadvantages but there might be a way to combine the best of both worlds. This article explains how a Section 338 election might suit the interests of the buyer and the target company.
ACFE Study Finds Median Losses from Occupational Fraud Increasing
Every two years, the Association of Certified Fraud Examiners (ACFE) publishes a study detailing the costs, schemes, perpetrators and victims of occupational fraud. “Occupational Fraud 2024: A Report to the Nations” was recently released. It covers more than 1,900 cases of white-collar crime, occurring in 138 countries. Consistent with previous biennial studies, the 2024 report…
Sustainability 101
Alyssa Rade, Chief Sustainability Officer at Workiva Carbon (formerly Sustain.Life), provides a high-level overview of ESG and sustainability, and how to think about it from a business perspective. Presented at the GRF ESG Summit, April 24, 2024.
Brush Up on Campaign Contributions Rules
With campaign season gearing up, many individuals and businesses will be reaching into their wallets or otherwise making campaign contributions to candidates, political committees and parties. Before doing so, it’s critical to understand the rules for making contributions for federal and state elections. Violations could lead to steep financial penalties, as well as reputational damage….
GRF Celebrates Internal Audit Awareness Month
At GRF, we know and love the role of the internal auditor, but it’s not clearly understood by people outside the profession. To raise awareness and appreciation, the Institute of Internal Auditors (IIA) has designated May as Internal Audit Awareness Month! GRF is helping to spread the word. The IIA has some excellent resources designed…
Key takeaways from GRF’s 2024 ESG Summit
On Wednesday, April 24, 2024, GRF brought together a panel of leading industry experts to provide a comprehensive overview of ESG, including current trends and regulations for measuring, monitoring, and reporting on Environmental, Social and Governance (ESG) initiatives. The half-day summit was jam packed with actionable information and advice. Save the date! GRF’s ESG Summit…