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    1. How NFPs should allocate joint costs  

    BY Joseph W. Cruitt, CPA, CGMA
    Not-for-profit entities (NFPs) are under constant pressure to devote an increasing portion of their expenditures to accomplishing their mission programs. While this goal sounds appealing, the NFP must also perform management activities to operate the NFP effectively and maintain sustainable fundraising efforts to support the organization.NFP ratings agencies use the percentage of expenses devoted to programming as a key component in the formulas they use to monitor, rate, and compare NFPs.

    2. Board members keenly focused on risk   WebExclusive

    BY Ken Tysiac
    Corporate board members of U.S. public companies are keenly focused on risk, but many are not comfortable with their understanding of which risks the companies are willing to take, according to new PwC survey results released Tuesday.In the interest of reducing fraud risk, an increasing percentage of board members are:Holding discussions regarding tone at the top (54% in 2014, up from 46% in 2012).Interacting more below the executive level (50% in 2014, up from 31% in 2012).Holding discussions of insider trading controls (33% in 2014, up from 27% in 2012).Seventy percent of the 863 public company director

    3. Technology plays a role in board members’ top two concerns   WebExclusive

    BY Ken Tysiac
    In a business environment where a damaging Twitter post can have disastrous effects on a company’s financials, reputational risk remains the top nonfinancial concern for corporate directors, according to a new survey report.Another risk rooted in technology—cybersecurity and information technology risk—is rising quickly among directors’ concerns, according to the fifth annual Board of Directors Survey report by accounting, tax, and consulting firm EisnerAmper.Directors from more than 250 boards participating in the survey were asked which areas of risk—aside from financial risk—were most important to their board.

    4. Six ways not-for-profits can get value from risk management   WebExclusive

    BY Ken Tysiac
    Many not-for-profits lack the resources to implement a holistic approach to risk across the enterprise. So it’s no surprise that they often lag behind public companies in implementing enterprise risk management (ERM). Indeed, just 13% of not-for-profits responding to a recently released survey said they have complete formal enterprise-wide risk management processes in place.

    5. Five barriers restricting risk management progress   WebExclusive

    BY Neil Amato
    Organizations continue to be aware of the risks in their midst, yet barriers remain for implementing enterprise risk management (ERM) initiatives.More than half (57%) of companies acknowledge that the volume and complexity of risks has increased “mostly” or “extensively” in the past five years, but the number of mature ERM programs appears to be leveling off, according to a survey conducted by the ERM Initiative at North Carolina State University for the AICPA.Companies are “seeing a more complex risk world, but they’re not yet investing at any higher levels in strengthening their risk oversight in a general

    6. Managing risk in a CPA firm merger or acquisition  

    BY Amy Waldron, CPA
    More and more CPA firms are up for grabs as Baby Boomers hang up their calculators for good. Merger-and-acquisition activity is high, and this trend is expected to persist. According to the 2012 biannual survey on succession planning conducted by the AICPA Private Companies Practice Section, almost half of multiowner firms had actively discussed mergers, acquisitions, and sales or planned to do so over the next 24 months.

    7. Data security risk: You can take it anywhere  

    BY Richard Sheinis, J.D. and Sarah Beckett Ference, CPA
    It has been said that with great power comes great responsibility. Mobile devices and cloud computing empower CPAs to work on an anytime, anywhere basis, but increased access demands greater responsibility for data security. A CPA’s obligation to protect client confidential data is not only governed by the AICPA Code of Professional Conduct and Internal Revenue Code Sec.

    8. Use data privacy to gain a competitive advantage   WebExclusive

    BY Ken Tysiac
    Data privacy doesn’t have to be an issue that keeps executives awake at night.Instead, companies that approach data privacy the right way can use it to differentiate themselves, said Carolyn Holcomb, CPA, the leader of PwC’s data protection and privacy practice in the United States.“We see companies that are saying, ‘I can use this as a competitive advantage.

    9. Five key defenses against risk   WebExclusive

    BY Ken Tysiac
    When does a company pull the trigger on an acquisition or investment? When is expanding into a new market a prudent choice? And when is the right time to hire additional personnel or change employee benefits?These are among the many questions organizations consider through a lens of strategic opportunities and risks.

    10. How to conduct a risk workshop  

    BY Neil Amato
    Humana is a company of 50,000 people, so assessing and addressing all the risks that each segment of the company encounters is no easy feat.For years, Humana, a multibillion-dollar player in managed health care and health insurance, had a top-down approach to risk. But a few years ago, the company decided it wanted to manage risk from the bottom up as well.
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