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Leveraging Effective Risk Management and Internal Control
By J. Stephen McNally, CPA, and Vincent H. Tophoff, RA
Risk management and internal control (RM/IC) shouldn’t be treated as ends in themselves. They are part of the process for setting and achieving an organization’s overall strategies and objectives. Management accountants need to be aware of the common pitfalls to effective implementation, the building blocks for effective RM/IC, and the latest frameworks and guidance coming from organizations such as the Committee of Sponsoring Organizations of the Treadway Commission (COSO), the International Organization for Standardization (ISO), and the International Federation of Accountants (IFAC). Moving forward, RM/IC should involve a wider perspective since organizations exist as part of an open system of dynamic variables.
Trapped Cash: When Is a Dollar Not Worth a Dollar?
By Russell Engel and Bridget Lyons
More and more U.S. companies are holding cash and liquid investments in subsidiaries located outside the United States to take advantage of lower corporate tax rates. This “trapped cash” can make it difficult for analysts and investors to gain a clear financial picture of a corporation, and the U.S. loses out on tax revenue. This article outlines
the current landscape, examining how companies use and report trapped cash, any potential changes to the tax code, and how investors value the cash.
How Do Nonprofits Win Foundation Grants?
By Ralph Drtina, CPA, and Kyle Meyer, CPA
In the highly competitive grant game, the difference between winning and losing
can be slim. For nonprofits, small charitable foundations view financial data and the individual components of that data differently than large foundations do. By understanding which financial ratios foundations examine to determine organizational performance as well as the factors that affect the decisions of different-sized foundations, nonprofit organizations can increase their chances of receiving foundation grants and more.
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