- Since the Committee of Sponsoring Organizations (COSO) issued its Internal Control — Integrated Framework (2013 Framework) in May 2013, many organizations have implemented the new framework to comply with the initial December 15, 2014 transition deadline. The 2013 Framework requires management to assess whether 17 principles are present and functioning, which is a change from the previous framework. Further, the 2013 Framework includes points of focus, which are important characteristics of the 17 principles and assist management with determining whether controls are properly present and functioning.
- We are pleased to have the opportunity to provide feedback to the Financial Accounting Foundation (FAF) with respect to the Private Company Council (PCC). At Baker Tilly Virchow Krause, LLP (Baker Tilly) we have strong support for the PCC and its efforts to date in improving financial reporting for the users of private company financial statements.
- Understanding the complicated rules of retirement distribution planning can prevent missteps and help preserve significant portion of an individual’s assets.
- In this update, Baker Tilly focus on the necessary reporting and disclosure to comply with the ACA and potential tax liabilities and health coverage reimbursement relief.
- Any entity that provides minimum essential health coverage (MEC), under the Affordable Care Act (ACA), to its employees must report that coverage to the employees and to the Internal Revenue Service.
- Previous Next