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Accounting Standard Updates Enter Second Year

Financial Management | Article by Christopher S. Maynard, Klatzkin & Company LLP As we near the end of fiscal 2019, business officers can look back on a full year of implementing the (relatively) new not-for-profit accounting standard updates. The Financial Accounting Standards...

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Strategies: Blueprints and Checkboxes: Simplifying the Facilities Audit

Facilities | With an affordable in-house audit, both your facilities team and your service providers will become more familiar with your campus and more invested in it too. Article by Dale Temple, Washington International School From the May/June 2019 Net Assets magazine The...

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AI Programs Catch Employee Fraud

(from Insurance Journal) Employers are using artificial-intelligence programs to closely scan employee expense reports, part of an effort to stem the more than $7 billion in losses companies experience from fraud each year, according to the Association of Certified Fraud Examiners. The programs'...

Blog Entry
Strategies: the Magic Binder

Financial Management | Reconciling every accounting fund every month may sound onerous, but it saves time and headaches down the line — especially during the annual audit. Article by Jayme Karolyi, The Shipley School From the March/April 2019 Net Assets mag What is the magic...

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Strategies: Best Practices for Coordinating the Annual Audit

Financial Management | It doesn’t have to be an exercise in frustration. Tips from a 20-year audit veteran. From the July/August 2018 Net Assets magazine Article by Melissa Woodin, The Hotchkiss School This article is based on a Goldmine session Woodin delivered at the 2018...

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In Audit Roulette, the House Always Wins

Financial Management | From the archives: The IRS took a closer look at independent schools’ Form 990s, employee fringe benefits and more in the 2015–2016 school year. Article by Steve Hoffman This article originally appeared in the July/August 2015 Net Assets. With myriad...

Blog Entry
Businesses Are Cutting Audit Costs

Could your school lower its audit costs this year? By rethinking certain business processes, more carefully documenting internal controls and better aligning controls with risks, 18 percent of public companies managed to reduce in 2015 compared to 2014, according to the Financial Executives...