Part of the recovery funding for many not-for-profits has come from grants. While these funds have directly helped not-for-profits keep their doors open, many executives may not realize that some of these funds could trigger a single audit.
Fraud is difficult to avoid entirely. However, some types of fraud are much more costly than others. Thankfully, there are many ways you can help protect yourself from an expensive business loss. Here are the best methods for preventing payroll and accounting fraud.
How should an organization measure and respond to risk?
As the COVID-19 pandemic continues with no real end in sight the performance of traditional on-site audits by DCAA becomes a significant safety issue.
The emergence of cloud computing has opened the door for financial institutions to take advantage of the many benefits offered by emerging technology.
The COVID-19 emergency has hit many Virginia, Maryland, and D.C. businesses and nonprofits by complete surprise.
The COVID-19 pandemic has caused a shift in how many internal audit functions operate within businesses.
Business owners and executives are familiar with the concept of risk management. From managing inventory levels to reviewing insurance coverage to maintain a proper level of protection, it’s a routine business practice
Source: RSM US LLP. PBMares is a member of RSM US Alliance. The effects of the coronavirus are evolving rapidly and are unique for each entity’s circumstances. In addition to addressing the serious operational impacts of the coronavirus, it is important that all entities consider how the coronavirus affects their financial reporting.
Donor contributions make up a lot of Virginia’s nonprofits’ annual revenue. Even though the organizations are not relying only on these contributions, nonprofit management has to understand how to account for these contributions in one of two ways.