Abila, the leading provider of software and services to associations, nonprofits, and government entities, announced today findings from its 2016 Nonprofit Finance Study: Compliance, People, and Process Complexities. This study explores the challenges and opportunities associated with rules and regulations changes, compliance, managing multiple revenue sources, audits, fraud, and staff turnover in the nonprofit finance department.
“Any time there are rules and regulations changes, there are added costs – both in terms of time and money – for nonprofit organizations,” said Dan Murphy, senior manager of fund accounting strategy for Abila. “Maintaining compliance, mitigating fraud, and preparing for audits add even more layers of complexity for organizations. We found there are a number of areas where nonprofit organizations need to sharpen their focus, better equip their teams with specialized training and technology, and ensure they are mitigating the risk of losing essential finance personnel.”
To view the multimedia release go to:
http://www.multivu.com/players/English/7858252-abila-2016-nonprofit-finance-study/
FTC announced last week that despite Myspace’s telling users that it will not share personally identifiable data with others; it gave advertisers “Friend ID” numbers of users. This enabled advertisers to search the users’ publicly available personal data such as full names and could even lead to discovery of their web activity. The terms of the settlement specified that Myspace is not going to misrepresent its privacy policies while implementing a comprehensive privacy program. In addition, the two parties agreed to a regular independent privacy audits every other year for 2 decades.
In this new video from EisnerAmper, one of the nation’s leading providers of employee retirement plan audits, partner Kriste DeAngelo presents a basic outline for how Benefit Plan Administrators should take extra care to avoid late filing of Employee Retirement Plan contributions, or remittances. View EisnerAmper’s newest video at http://www.multivu.com/players/English/7461932-eisneramperemployee-benefits/ DeAngelo, who is the lead engagement partner for over 50 retirement plan clients, says there are three steps all plan professionals should take at the outset
Determine the earliest date that your company can reasonably segregate participant deferrals from the general assets of the company and remit into the Plan, and document the company’s remittance process. 2. Follow what has been documented. 3. Check the remittance data throughout the year – this is crucial. According to DeAngelo, “Anything outside of the expected time frame could be considered a late remittance by the DOL and should be voluntarily corrected.” DeAngelo goes on to say that many benefit managers stumble on the perception that, according to the DOL, retirement plan remittances must be made “no later than the 15th business day of the following month.”
To view the multimedia release visit:
http://www.multivu.com/players/English/7461932-eisneramper-employee-benefits/
In this new video from EisnerAmper, one of the nation's leading providers of employee benefit plan audits, Denise Finney provides easy to implement tips on how the plan administrator, the plan auditor and the third party administrator (the "Employee Benefit Plan Team") can work together to obtain plan audit information it needs to remain on schedule to issue plan financial statements and meet the Form 5500 filing deadline.
To view the Multimedia News Release, go to http://www.multivu.com/players/English/7461932-eisneramper-employee-benefits/
Employee benefit plan regulations pose unique, high risk questions for Plan Sponsors and effect the future well-being of all plan participants. EisnerAmper meets the demands of Plan Sponsors by providing audit, tax and advisory services to assist them with their fiduciary responsibilities in this often complex and technical area.
Why EisnerAmper?
• Partners and Directors who devote 100% of their time to employee benefit plans
• AICPA Employee Benefit Plan Audit Quality Center member firm
• Experience with over 400 annual benefit plan audits
• 2 reviews by the Department of Labor with no comments!
• Industry dedication and passion
While we know how essential it is for our professionals to be knowledgeable in the benefit plan industry, we believe it's also as important to share that information with our clients. Below are links to two of EisnerAmper’s benefit plan libraries.
To view the multimedia release go to:
http://www.multivu.com/players/English/7461932-eisneramper-employee-benefits/
In a two-part video series from EisnerAmper, one of the nation's leading providers of employee benefit plan audits, leading benefit plan expert, Denise Finney, highlights two new accounting standards related to employee benefit plans and addresses the impact they have on plan sponsors.
Finney, who has extensive experience directing employee benefit plan audits, including 401(k), 11-K, profit sharing, defined benefit, 403(b) and Employee Stock Option Plans (“ESOPs”), begins her video series by addressing ASU 2015-12, Part 1, which applies to fully benefit-responsive investment contracts.
To view the multimedia release go to:
http://www.multivu.com/players/English/7856731-eisneramper-employee-benefit-plan/
