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April 25, 2012 12:15:28 pm

Completion of Financial Standards Convergence Projects Expected by Mid-2013

The Financial Accounting Standards Board (FASB) and the International Accounting Standards Board (IASB) are reporting that they exp
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Tags: Accounting Standards

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April 23, 2012 1:54:28 pm

Is Internal Fraud Prevention Worth the Cost?

Internal fraud is estimated to cost companies an average of 3% to 5% of their revenues each year.  Executives are usually unaware of any fraudulent activity, or they tend to underestimate the amount of fraud that is occurring, often believi
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Tags: Risk

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April 19, 2012 10:11:19 am

Survey: Nonprofits’ Form 990s Often Expose Social Security Numbers

A new survey found that tax-exempt organizations frequently expose social security numbers (SSNs) to the public when filing Form 990 tax returns.  Those individuals most frequently exposed were tax preparers, donors, high school and college
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Tags: Nonprofit, Tax, Nonprofit, Form 990, Form 990-EZ, Form 990-PF, Form 1120-POL

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April 18, 2012 10:24:45 am

FASB Announces Decision on Liquidity Risk Disclosures

The Financial Accounting Standards Board (FASB) recently announced that it will be drafting a Proposed Accounting Standards Update (ASU) regarding liquidity and interest rate risk disclosure
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Tags: Accounting Standards

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April 17, 2012 1:13:41 pm

Private Companies May Benefit from Adopting IFRS

Private companies are watching the IFRS discussions closely.  The Securities and Exchange Commission (SEC) is still deciding whether to require U.S. public companies to adopt International F
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Tags: Accounting Standards, IFRS

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April 16, 2012 12:38:20 pm

Healthcare Plan Costs Increases Expected to Slow Slightly in 2012

A new survey found that cost increases for healthcare may finally be slowing.  The projected healthcare plan increase is less than 10% for the first time since 2001 and reflects a 1.3% reduction in the growth rate from 2011.


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Tags: Benefits, Healthcare

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April 13, 2012 10:09:08 am

The Internal Audit Role When the Regulations Constantly Change

Keeping up and complying with the ever-changing regulatory environment is a challenge for most organizations.  A recent article in Internal Auditor shows that internal auditors
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Tags: Audit, Internal Audit, Compliance, Risk

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April 09, 2012 11:30:48 am

Wall Street Journal: Native American Businesses Perform Better With Less Federal Oversight

A recent Wall Street Journal article comparing Native American programs and businesses with vastly different degrees of federal regulation found that those with independent tribal management performed better than those with highly bureaucratic f
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Tags: Tribal, Self-Governance, Self-Determination

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April 05, 2012 1:11:56 pm

Native American Indian Gaming Revenues Rebound Slightly

A recent report finds that Indian gaming revenues rebounded in 2010 after the first drop in more than two decades in 2009.  Indian gaming generated $26.73 billion in 2010, a 1.3 percent increase over 2009 revenues.
 
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Tags: Tribal, Indian Gaming

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April 05, 2012 11:35:57 am

Some Tax-Exempt Organizations Receive Erroneous IRS Penalty Notices; Abatement Available

Some tax-exempt organizations have reported that they have received penalty notices from the Internal Revenue Service (IRS) for late filing of Forms 990, 990-EZ, 990-PF, and 1120-POL despite rece
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Tags: Nonprofit, Form 990, Form 990-EZ, Form 990-PF, Form 1120-POL

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April 03, 2012 12:20:39 pm

New GASB Guidance for Deferred Outflows and Deferred Inflows; Technical Corrections

The Governmental Accounting Standards Board (GASB) issued two statements of standards on Monday.  The standards address deferred outflows and deferred inflows of resources and implement tec
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Tags: Accounting Standards

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