What Every Organization Needs to Know About the Updated Three Lines Model and Risk Management
How should an organization measure and respond to risk?
DCAA Audit Protocol during the COVID-19 Pandemic
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.
Cloud Computing Security Risk Management Update
The emergence of cloud computing has opened the door for financial institutions to take advantage of the many benefits offered by emerging technology.
Accounting Standard Deadlines Extended One Year
The COVID-19 emergency has hit many Virginia, Maryland, and D.C. businesses and nonprofits by complete surprise.
How Internal Audit’s Role Can Evolve in Today’s COVID-19 Environment
The COVID-19 pandemic has caused a shift in how many internal audit functions operate within businesses.
Manage Third Party Risk with a SOC 2 Audit
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
Coronavirus: Financial Reporting Considerations
Source: RSM US LLP. 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.
Recording Contributions with Donor-Imposed Restrictions
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.
Five Tips to Help You Get Ready for Your Year-end Audit
Is your organization ready for its year-end audit? Here are a few tips from an auditor than can help you prepare for a smooth and efficient audit.
What Employers Need to Know About SOC1
What is a SOC1 report? A Service Organization Controls Report (commonly referred to as a “SOC1” report), is a report on the controls in place [...]