Budgeting and Planning for 2025: Challenge Accepted!
Generated by AI and edited by Heather Broberg, Senior Manager, Accounting Technology Solutions Budgeting and forecasting are critical components of financial planning for any organization, yet they often pose significant difficulties. These processes are essential for setting financial goals, allocating resources efficiently, and making informed strategic decisions. However, the complexities involved can make budgeting and…
2024 Update on Retirement Plans: Recent Changes to Form 5500
Navigating the complexities of retirement plan reporting just got easier with the latest updates to Form 5500. These transformative changes promise to streamline processes, enhance data accuracy, and significantly reduce administrative burdens for plan administrators and sponsors. GRF hosted the 2024 Update on Retirement Plans webinar on May 16th, 2024, which delved into significant changes…
Update on Employee Retention Credit Claims
By Pam Harrison, CPA, Manager, Outsourced Accounting and Advisory Services As part of the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) enacted in 2020, the Employee Retention Credit (ERC) was established to assist businesses impacted by the COVID-19 pandemic. Unfortunately, the program later became a target for aggressive marketing efforts by ERC promoters…
2024 Update on Retirement Plans
Join GRF for a comprehensive overview of changes to employee benefit plan regulations and auditing standards. We will summarize key changes that will be applicable to employee benefit plan audits during 2024 and we will also summarize hot topics related to future industry changes. Discussion topics: DOL Cyber Best Practices Secure Act 2.0 Form 5500…
Understanding Reasonable Cybersecurity Measures under New Federal Guidelines for Uniform Guidance
Cybersecurity has skyrocketed to the number one slot on many surveys and experts’ risk rankings as noted in GRF’s Top Risk for Nonprofits and Associations report. In response to the evolving landscape of cybersecurity threats, the Office of Management and Budget (OMB) has introduced language in the recently updated Guidance for Federal Financial Assistance aimed…
GRF’s Omid Mohebbi Elected Chair of GWSCPA Nonprofit Section
May 15, 2024 GRF CPAs & Advisors (GRF) is pleased to announce that Omid Mohebbi, CPA, has been elected as the next chair the Greater Washington Society of CPAs (GWSCPA) Nonprofit Section. His term will begin on July 1, 2024. The Nonprofit Section plays the premiere leadership role to area CPAs in public and private practice…