Obtaining Cyber Insurance For Your Organization
By Darren Hulem, CISA, CEH, Security +, Senior Manager, Risk & Advisory Services As cyberattacks grow in frequency and complexity, organizations are asking, “Is Cyber Insurance worth it?” The short answer is “Absolutely!” Before contacting an insurance company, we recommend some research and due diligence to position your organization for reasonable rates. Coverages can vary…
Survey Highlights Pace and Complexity of Risks for Nonprofits
Enterprise risk management is becoming more common in the not-for-profit sector, but recent research finds that risk management practices are not keeping pace with the increased complexity of risks for nonprofits. On July 12, 2022, the Enterprise Risk Management (ERM) Initiative at NC State University published the 13th edition of its annual State of Risk…
An Incident Response Plan Prepares You for a Ransomware Attack
By Darren Hulem, Senior IT and Risk Analyst An exponential increase in the number of ransomware attacks in 2021 has many businesses and nonprofits wondering whether they are next. In recent months, well-known ransomware victims made headlines when they elected to pay the ransom to quickly recover data and return to normal operations. Is your…
Board Assessments Help Nonprofits Thrive During Challenging Times
With ongoing concerns about economic recession, it is tempting to put strategic initiatives on the back burner. It may seem counterintuitive, but now is the ideal time to revisit your Board of Directors (Board) and determine if your organization is compliant and operating optimally. An effective Board is essential for surviving tough economic times, fulfilling…
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…
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…
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…
Elements of Successful Nonprofit Cybersecurity
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 more ways to be attacked than ever…
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…
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…