Accounting & Assurance

Don’t mistake kickbacks for gifts

  Kickbacks return a portion of the money exchanged in a business transaction as compensation for favorable treatment. They’re illegal in the United States and many other countries. But because kickbacks are often disguised as gifts, travel and entertainment, they can be hard to identify.     Intention of the gift-giver Gifts, gratuities or courtesies […]

Read the full article

Conflicts of interest: When employees aren’t on your side

One of the governing principles of the employee/employer relationship is that employees have a fiduciary duty to act in their employer’s interests. An employee’s undisclosed conflict of interest can be a serious breach of this duty. In fact, when conflicts of interest exist, companies often suffer financial consequences. Ignorance isn’t bliss Here’s a fictional example […]

Read the full article

Does your nonprofit need a CFO?

Your not-for-profit’s ability to pursue its mission depends greatly on its financial health and integrity. If your nonprofit is growing and your executives are struggling to juggle financial responsibilities, it may be time to hire a chief financial officer (CFO). Core responsibilities Generally, the nonprofit CFO (also known as the director of finance) is a […]

Read the full article

Antifraud checklist for construction companies

According to the Association of Certified Fraud Examiners’ Report to the Nations: 2018 Global Study on Occupational Fraud and Abuse, organizations victimized by fraud lose a median $130,000. But construction companies, in particular, are even harder hit, with a median loss of $227,000. What can you do to protect your construction business? Adopt this checklist. […]

Read the full article