• 831(b) captives draw scrutiny from IRS and Congress

    Large companies have been forming captive insurance companies (captives) to self-insure their risks since the 1950’s. In general, these captives were formed to lower insurance costs, provide access to the reinsurance market, and cover exposures where there are gaps in the commercial market. When congress enacted section 831(b) of the Internal Revenue code in 1986, it was intended to extend the benefits of self-insurance, from large publicly traded companies to smaller middle market closely held business entities.
  • New way to calculate net asset value per share

    There are several ways to calculate the value of an asset, and financial institutions have a number of options for determining the Net Asset Value Per Share. They also have to make what is sometimes a difficult judgment call, and a new accounting regulation is designed to simplify that process.
  • Securitization of deposits and investments

    Ensuring the security of government deposits and investments is a fiduciary responsibility of the governing body and management. These common mechanisms help governments fulfill their duty to safeguard public funds.
  • Five easy internal controls your government should implement

    Ensuring there are adequate controls over both traditional and electronic processes and periodically reviewing those controls can help mitigate your government’s susceptibility to fraud. Baker Tilly’s audit team encourages you to consider implementing these five low-cost controls.