Clark Schaefer Consulting’s Andrew Sizemore Receives Prestigious IIA Emerging Leaders Award
Clark Schaefer Consulting is proud to announce that Andrew Sizemore, Director, and leader of our Risk & Controls group, has been awarded the prestigious IIA Emerging Leaders Award by The Institute of Internal Auditors (IIA). This recognition is a testament to Andrew’s exceptional contributions to the internal audit profession and his dedication to the community. […]
3 Reasons to Consider Outsourced Accounting for Nonprofits
As the pace of change and innovation continues to accelerate, nonprofits are finding new and creative ways to keep up. Today’s leading nonprofits are perfecting the art of virtual fundraising and volunteering. They’re implementing fresh social media strategies. They’re creating innovative donor retention programs. And they’re driving their missions forward despite myriad ongoing global challenges. […]
Safeguarding Integrity: The Importance of SOX Compliance
In the aftermath of major financial scandals that shook the global economy, the U.S. Congress enacted the Sarbanes-Oxley Act (SOX) in 2002 to restore confidence in the financial markets. The legislation introduced stringent regulations to ensure the integrity of financial reporting and corporate governance practices. While SOX compliance applies to all public companies, its significance is particularly […]
FASB Issues Proposal on Crypto Assets
The Financial Accounting Standards Board (FASB) issued a proposal in March 2023 to provide accounting and disclosure rules for certain types of cryptocurrency assets. The proposal would help companies more accurately reflect the economics of such assets. If finalized, the proposal would introduce the first explicit accounting standard on crypto assets into U.S. Generally Accepted […]
Are You Ready for New Regulations Impacting Financial Institutions?
2022 presented financial regulators with a variety of new things to consider. With high inflation, interest rate hikes, the conflict in Ukraine, lingering effects of the pandemic, stock and bond market volatility, and events in the crypto asset markets there are many factors at play. New rules and regulations are being introduced, and existing ones […]
Suspicious activity: Are you seeing the big picture?
Monitoring customer transactions for suspicious activity — and filing Suspicious Activity Reports (SARs) when appropriate — is a key component of a financial institution’s Bank Secrecy Act / Anti-Money Laundering (BSA/AML) program. Unfortunately, many banks make the mistake of focusing their efforts on deposit accounts and paying less attention to other products and services, particularly […]
2022 Year-End Tax Planning for Individuals — Recorded Webinar
View On-Demand Webinar: Year-End Tax Planning for Individuals On December 1, 2022, Jane Pfeifer and Mark Gaudet (joined by moderator Brendan Walsh) looked at the tax implications individuals should consider for the end of 2022. Although the live webinar event has ended, you can view the recording by clicking the button below. Please note: CPE […]
2022 Year End Tax Planning for Businesses — Recorded Webinar
Summary It always seems to come too quickly, but December 31st will soon be here. Our tax experts have devloped two webinars focused on year-end and 2023 tax planning. On Wednesday, December 7, 2022, Phil Hurak, David Albrecht and Zach Gubser (joined by moderator Brendan Walsh) will discuss strategies and planning for businesses to consider […]
Cost Segregation: Frequently Asked Questions
If your company is planning to build, purchase or renovate a building, or has done so in the past several years, a cost segregation study is a powerful tool that may help boost your cash flow and decrease your tax liability. These Frequently Asked Questions (FAQ) were designed to help you determine whether a cost […]
IRS announces adjustments to key retirement plan limits
In Notice 2021-61, the IRS recently announced 2022 cost-of-living adjustments to dollar limits and thresholds for qualified retirement plans. Here are some highlights: Elective deferrals. The annual limit on elective deferrals (employee contributions) will increase from $19,500 to $20,500 for 401(k), 403(b) and 457 plans, as well as for Salary Reduction Simplified Employee Pensions (SARSEPs). […]