What is the Nonprofit Finance Digital Transformation Tipping Point?
This post was originally published on the Sage Intacct Blog In the digital age, good stewardship requires an overhaul of many manual, paper-intensive processes. By using technologies like cloud computing, artificial intelligence, and open APIs for integration, digital transformation empowers nonprofit finance teams to make data-driven decisions for greater impact. Recently, digital transformation was the…
Lessons Learned from Adoption of Topic 606, Revenue Recognition
In May 2014, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2014-09 Revenue from Contracts with Customers (Topic 606) to clarify revenue recognition guidance and thereby improve financial reporting. Nonprofit entities who adopted the standard early quickly learned that there is a significant learning curve to properly recognizing revenue under the new…
Fraud Control and Prevention: Proactive Measures
The Association of Certified Fraud Examiners (ACFE) publishes a bi-annual, Report to the Nations (the Report) providing detailed statistics and key findings related to fraudulent activity by industry throughout the world. The 11th study of occupational fraud, the publication serves as one of the best sources of fraud-related data and information the globe over. GRF’s…
Fraud Control and Prevention: Mastering the Basics
Keeping it simple provides more protection than you might expect By Mac Lillard, CPA, CFE, CISA, CRISC, CITP | Manager, Audit and Risk Advisory Services During 2020, the Federal Trade Commission (FTC) received more than 2.2 million reports of fraud, up 500,000 from the 1.7 million reports filed in 2019. The significant increase in fraudulent…
Information Disclosure: Are you up to date on privacy laws?
GRF Cybersecurity Risk Assessment and Scorecard Blog Series Securing the privacy of your organization’s employee and customer data is critical for maintaining the trust of members and donors – and is increasingly becoming a legal requirement. What is information disclosure? Information disclosure occurs when an application reveals sensitive information about its users. Depending on…
Social Network: Knowing the Narrative Surrounding your Organization
GRF Cybersecurity Risk Assessment and Scorecard Blog Series Social media has allowed organizations to connect with customers around the world, but the wide reach of your social network also presents opportunities for hackers and bad actors to launch attacks or damage your organization’s reputation. Properly understanding and managing your social media presence allows you…
Hacktivist Shares: Are you being targeted?
GRF Cybersecurity Risk Assessment and Scorecard Blog Series Hackers and malicious attackers will often publicize their targets in various forums or on the dark web, so they can gather support and intelligence for taking down a website or finding vulnerabilities within an organization. Hacktivists are hackers who are politically and/or socially motivated. Their targets…
Identity and Access Management (IAM): Who is accessing your data?
GRF Cybersecurity Risk Assessment and Scorecard Blog Series Simply put, Identity and Access Management (IAM) is the discipline of allowing the right individuals to have access to the right resources at the right times for the right reasons. As hackers have gotten more sophisticated, organizations must take steps to ensure that users attempting to…