Segregation of duties (SOD) is a key internal control that helps nonprofits reduce fraud, improve accuracy, and build trust. Start the 2025 by exploring the importance of SOD, strategies to overcome common challenges, and actionable steps for establishing strong internal controls.
PBMares has moved its Norfolk, Virginia office to the 19th floor of the Wells Fargo Center on Monticello Avenue. The Firm sought out new office space to accommodate a growing workforce.
Substantiating charitable contributions of planes, boats, and automobiles differ from other types of non-cash gifts.
The number of investors who are converting their IRAs to Roth for tax free growth are on the rise. Is a Roth conversion the right step for your financial planning strategy?
PBMares, LLP is excited to announce eight new partners effective January 1, 2025. This expansion enhances expertise across key practice areas, including government contracting, construction and real estate, not-for-profit, risk advisory, and outsourced accounting.
PBMares, LLP is excited to formally welcome new partners, team members, and clients from the merger with BSB CPAs + Advisors. The merger took place on October 1, 2024 and the two firms officially joined as of January 1, 2025. Five new partners and 36 new employees joined PBMares in the combination.
Roth elective deferral contributions have been permitted in qualified retirement plans since 2006. Section 604 of SECURE 2.0 provided for an optional provision that allows employees to designate their employer contributions, whether it be matching nonelective, as Roth. This applies to 401(k) Plans and 403(b) Plan. This was effective December 29, 2022; however, several challenges delayed implementation of this provision.
External fraud costs the construction industry up to $1 billion annually, with scams targeting high-value materials, supply chains, and tight project timelines. To mitigate risks, construction companies can implement preventive measures like enhanced site security, supplier screening, and strong internal controls.
Cybersecurity resiliency is important for nonprofits. An organization that has strong cybersecurity resiliency protects its sensitive data and ensures that it can fulfill its mission without interruption.
With changing work habits, increasing demands for flexible spaces, and modifications to urban planning, the conversion of commercial office buildings into new uses has gained popularity. Learn about the future of commercial office conversions and transforming workspaces.
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