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…
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…
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…
The COVID-19 Crisis Highlights Best Practices for Virtual Audits
By Thomas Netznik, CPA, Audit Manager, GRF CPAs & Advisors In recent years, nonprofits have begun investing in technology that not only appeals to a younger workforce, but also achieves some organizational goals related to digital transformation. Gone are the days when most organizations relied on paper documents and files, and not a moment too…
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…
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…
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…
Forensic Auditing and Artificial Intelligence Help Detect Fraudulent Activity
By Mac Lillard, CPA, CFE, CITP, CISA, | Manager, Audit and Risk Advisory Services 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…
Internal Audit is a Critical Investment for Nonprofit Organizations
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 organization’s finances and reputation. Many organizations who have established…
Manage International NGO Risk Effectively with an External Field Office Audit
By: Max Manley, CPA | Nonprofit Audit Manager International NGOs (INGOs) working overseas in the development and humanitarian response sectors face a unique set of challenges and risks from both an accounting and operational standpoint. Whether your role resides at headquarters (HQ) or in a field office, as an INGO leader your responsibilities include managing…