- The Office of the Comptroller of the Currency (OCC) recently updated its risk-management guidelines for third-party relationships, and the new guidelines give banks more responsibility than ever. According to the new guidelines, financial institutions have many of the same responsibilities for managing risk from vendors as they do from their own operations.
- If your institution expends more than $500,000 (increasing to $750,000 come December 26, 2014), in general funds of awards per year, you must submit to a single audit, more commonly known as the OMB Circular A-133 Audit on an annual basis. Many view the A-133 audit as a “necessary evil” – something that has to be done in order for your institution to receive the research funding. In this article we outline tips for taking back control of your next A-133 audit.”
- Recently, additional webcast training opportunities from COFAR and the AICPA became available in archive format.
- Even though the Green Book was written for the Federal Government, Baker Tilly public sector specialists have found the framework to be a useful reference for state and local governments, quasi-government entities, and not-for-profit organizations when designing internal control systems.
- Have you ever found where another department in your government has opened its own bank account?
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