Newsletters
How Does Your Board Stack Up?
June 14, 2016The members of a board of directors collectively set the direction of an organization, steering it toward a better future by setting the tone that promotes sound and ethical legal governance and financial management policies. The board is entrusted with and accountable for the leadership and governance of a nonprofit organization. However, a typical board’s work…
Read More
Money$peak Expands, Maintains Focus on Retention, Real-Life Skills
June 7, 2016Money$peak is expanding its reach. The Mercadien Foundation, in partnership with Rider University’s Graduate School of Business, concluded its second year of the Money$peak program in June 2016 with great success and huge acclaim, working with six central New Jersey school districts and advancing personal financial literacy for more than 250 students. Money$peak now continues…
Read More
Tax Scams On The Rise – Identity Theft A Major Threat To Americans
June 7, 2016Most Americans filed their 2015 tax returns by the extended April 18th deadline this year and will do their best to forget about taxes until they’re due again in 2017. However, increasing numbers of Americans don’t have the luxury of forgetting about taxes until next year because they’ve been victims of identity theft. Since the early 2000s,…
Read More
Surprise Audits Can Stop Fraud in its Tracks
May 12, 2016Over the years, the Association of Certified Fraud Examiners (ACFE) has consistently estimated that occupational fraud costs the typical organization 5% of its revenue annually. In its most recent biennial report on occupational fraud, the ACFE found that the median loss caused by fraud was a whopping $145,000. Clearly, no organization can afford to ignore…
Read More
Prevent Fraud With Stronger Consumer Profiling
May 10, 2016When we hear the word fraud, our own personal ideas and experiences about it usually come to mind. An official definition of fraud as published by the Institute of Internal Auditors in its International Professional Practices Framework, is “… any illegal act characterized by deceit, concealment, or violation of trust. These acts are not dependent…
Read More
A Successful Business Requires Strong Governance
April 27, 2016Begin With the Business Structure Good governance starts with the initial organization (or reorganization) of a business. For the sake of simplicity, we’ll focus on governance issues in the context of a corporation, which is required by law to have a board of directors and officers and to observe certain other formalities. Other business structures,…
Read More
Family Business Planning – Handing The Torch To The Next Generation
April 27, 2016Every family business must transition control to the next generation someday. But will the next leader be another family member — or is there a better choice outside the family circle? Successful succession plans don’t happen overnight. They take years (or even decades) of preparation, mentoring and training. So if you have borrowers that are…
Read More
Why Sound Board Oversight is Essential to Your Organization
April 14, 2016While not much these days shocks me, I am greatly disappointed when I learn that seemingly good organizations have gone off the rails. As co-leader of Mercadien’s Nonprofit Services Group, I often remind our clients and associates who serve on boards of the importance of good governance. I happen to sit on the governance committee…
Read More
Is Your Nonprofit Addressing the New Cost Principle Reforms?
April 14, 2016It’s not too late to get up to speed on new federal and state cost principles and other requirements for your federal and New Jersey grants. As you may be aware, the federal Office of Management & Budget (OMB) recently issued final regulations entitled, “Uniform Administrative Requirements, Cost Principles and Audit Requirements for Federal Awards,”…
Read More
Protecting the Public Through Forensic Investigations
March 22, 2016Recent headlines involving fraud, waste, and abuse within the public sector serve as constant reminders that conducting proactive audits in organizations are critical to cultivating success and accountability. These audits may uncover issues and identify findings that give rise to the need for an in-depth forensic investigation. The role of CPAs has expanded to include investigative accounting…
Read More