Internal Control

4 Takes On Succession Planning-Part 1

By |2019-06-18T12:48:06-05:00March 27th, 2019|Advisory, Change, Internal Control, Morale, Preparation, Succession Planning|

You’ve worked hard to build your business, and it’s a big part of who you are. No matter how great the selling price, how capable your successor, or how excited you are for the next phase of your life, change is hard. Our friend, Rena Striegel, owner of Transition Point Business Advisors, is focused on [...]

The Time is Now… Financial Statement Presentation Changes are Here!

By |2019-05-22T10:02:27-05:00February 27th, 2019|Accounting, Board, Change, Compliance, Internal Control, Nonprofit|

Previously in “Changes to Financial Statements for Not-for-Profit Entities, Are You Ready?”, we provided an overview of the changes for nonprofit financial statements. Now we will take a closer look at the new net asset presentation and disclosures your organization will face, beginning with your December 31, 2018 financial statements. If you missed our previous [...]

Do You Really Need An Audit?

By |2019-04-18T12:06:47-05:00February 6th, 2019|Assurance, Board, Compliance, Internal Control, Nonprofit|

For those of you that go through an audit each year, you know how costly and time consuming they can be. You may have wondered, “Do I really need an audit? Is there something else that I can do to satisfy my financial reporting requirements?” To accurately answer those questions, you first need to understand [...]

Governance vs Management, Is There a Difference?

By |2019-01-24T15:08:15-05:00December 18th, 2018|Board, Goals, Internal Control, Leader, Nonprofit|

It’s no secret that nonprofit organizations come in a variety of shapes and sizes.  Likewise, the structure of their boards are made up of various shapes and sizes.  As a board member, it's important to understand what your role is in providing service to the organization.  Especially for organizations without paid staff, board members are [...]

Goal Setting – The First Step in Succession Planning

By |2019-04-17T15:37:19-05:00December 6th, 2018|Advisory, Change, Internal Control, Leader, Preparation, Shareholder, Succession Planning|

Many of us can relate to trying a new diet or exercise program at some point in our lives. What was the key component to success or failure in the program? For me, the answer is easy—my success depended on a few things: Did I fully “buy in” to the program? Did I completely let [...]

3 Reasons You Should Consider Moving to the Cloud

By |2019-01-16T12:25:32-05:00December 4th, 2018|Internal Control, IT, Leading, Nonprofit, Preparation, Records, Tips|

What is the Cloud and How Does it Work? When you hear the saying, “your data is in the cloud”, it doesn’t mean your data is actually stored in a cloud about to drop torrents of rain upon you. The “cloud” merely means that your software and services are running through the internet instead of [...]

Considering Red Flags of Occupational Fraud

By |2019-04-10T13:37:37-05:00February 9th, 2018|Compliance, Forensic Accounting, Fraud, Internal Control, Investigation|

Internal fraud, also called occupational fraud, is defined by the Association of Certified Fraud Examiners (ACFE) as “the use of one’s occupation for personal enrichment through the deliberate misuse or misapplication of the organization’s resources or assets.” Included below are some interesting statistics related to Occupation Fraud as reported in the ACFE's 2016 Global Fraud [...]