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The JOBS Act is a Crowd Funding Game Changer
April 18, 2012
Travis Drouin
The Jumpstart Our Business Startups (JOBS) Act, recently signed into law by President Obama, changes the playing field for small and emerging businesses in several important ways. In this blog post, I’ll focus on the Act’s significant [...]
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Selling a C Corp? Don’t Forget about Personal Goodwill – Part 1
March 21, 2012
Gregg Hamilton-Piercy, MFA Cornerstone Consulting
Readers of our blog will most likely find the concept of goodwill pretty straightforward – an intangible asset tied to a name, reputation, existing relationships and other factors that can be established [...]
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The Red Flag Rule: Up For Discussion Again … This Time by the SEC and CFTC
March 14, 2012
Michelle Mackey, MFA Cornerstone Consulting
The topic of “red flags” initially came about through the Fair and Accurate Credit Transactions Act of 2003. The Red Flag Rule, adopted by the Federal Trade Commission in 2007, called for “creditors” to implement [...]
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Nonprofit Governance: Understanding Independence
February 15, 2012
Christine Schneider
In light of the recent New Hampshire legislation which mandates training for nonprofit board members, it is clear that legislators are recognizing a need for increased education regarding the fiduciary responsibilities [...]
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Dispelling the Myth That a SOC Report is Merely a Checkbox
February 9, 2012
Rob Busch
Some companies believe that once a SOC 1, SOC 2 or SOC 3 report is issued and in their customer’s hands, the box can be checked and the report can be filed away in a drawer to be forgotten. This perception couldn’t be further from the truth. [...]
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Good News for 990 e-Filers
December 27, 2011
Joyce Ripianzi
In case you missed the recent notice from the IRS: tax-exempt organizations that are required to file their 990 returns by January 17, 2011 or February 15, 2012 now have until March 30, 2012 to do so. [...]
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BESP - Have You Made Your List and Checked It Twice?
December 21, 2011
Pamela Sintros
If not, you may find the new rules are a bit naughty and not so nice …
Effective, January 1, 2011, both public and privately-held companies are required by the FASB to use [...]
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5 Reasons to Avoid an Employee Stock Ownership Plan
December 16, 2011
Gregg Hamilton-Piercy, MFA Cornerstone Consulting
As mentioned in my November post, an employee stock ownership plan (ESOP) is an employee benefit plan that serves as a tax-qualified, defined-contribution retirement plan and presents [...]
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Is XBRL More Than Just a Compliance Expense?
October 19, 2011
Tracy Curley
With XBRL (eXtensible Business Reporting Language) now in its third phase of implementations, nearly all public companies using U.S. GAAP are now required to submit data in the fully searchable, digital format. [...]
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The 5 Principles of a SOC 2 Report
September 21, 2011
Matt Pettine, MFA Cornerstone Consulting
The new SOC (Service Organization Control) 2 reports provide information and assurance relating to a service provider’s non-financial control environment and are most commonly based upon a combination of one or more of the Trust Services Principles.
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10 Steps to Prepare for a SOC Report Audit
June 6, 2011
Rob Busch, Michelle Mackey and Matthew Pettine
A Service Organization Control (SOC) report can help your company meet requests you receive from your clients on behalf of their auditors, gain a competitive edge, and benchmark against best practices. [...]
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A Word of Advice for Smaller Reporting Companies as XBRL Becomes a Reality
May 25, 2011
Tracy Curley
In 2009, the U.S. Securities and Exchange Commission (SEC) issued rules requiring public companies and foreign private issuers that prepare [...]
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What You Need to Know About the Davis-Bacon Act and Employee Benefit Plans
May 11, 2011
Scott Tuxbury, New Wealth Advisors — Retirement Plan Advisory Practice
Many companies don’t feel they can competively bid on federally funded contracts because they cannot afford the increase in employee payroll [...]
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Leveraging Controls for 3rd Party Assurance Reports
May 2, 2011
Joseph Landry
Have you been contemplating obtaining a service auditor’s report in order to meet the assurance needs of your customers and/or your customer’s auditors? [...]
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2011 Means Greater Transparency for 401(k) Plan Sponsors
January 12, 2011
Scott Tuxbury, New Wealth Advisors — Retirement Plan Advisory Practice
Back in July of 2010, the Department of Labor (DOL) issued revised disclosure rules for providers of services to 401(k) and other retirement [...]
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Massachusetts Privacy Law Calls for Tighter Information Security
November 25, 2008
Peet Rapp
The Commonwealth of Massachusetts enacted a law in September protecting state citizens’ personal information.
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