Risk Management

  • Who reports the New Hires to the State

    We switch payroll vendors and our old vendor reported the New hires to all the States automatically. The new payroll vendor does not have the feature. Whose responsibility is it? HR or Payroll?

  • Commercial building lease

    I’ve recently been asked by someone who is taking on a short term commercial lease (6 months) if it’s better to put the lease through the company name or in their personal name? Please note they will not be trading from these premises. If they can select to put it through tbe company, what are the …

  • How to report a breach of fiduciary duty to company principals

    I have verifiable information regarding the founder of a technology company who has engaged in highly unethical, potentially fraudulent business practices and has been able to operate under the radar for several years. The company he founded is backed by a private equity firm. He was asked to step …

  • Can I get in trouble for withholding resignation until 2 weeks before I’m moving?

    My husband is Military and just heard he’s gotten a job in Europe. We don’t leave until January 2019. Can I get in any legal trouble for waiting to tell them I’m resigning until 2-3 weeks before we leave? I don’t want to be out of a job/paycheck if I tell them any sooner. Also, if the bonus doesn’t…

  • Determining theft

    I have a really bad feeling that I had employee's stealing from one of our restaurants by writing up sales tickets, acquiring the money and then never officially ringing the sale up in the POS. I found several of these that didn't reconcile to the POS and other logs from the closing manager. From …

  • CEO is misleading the Board, I am an officer, private company

    In this situation, do I have any obligation to tell the Board they are being misled? Am I allowed to tell the Board?

  • How many of you out there, report to your board monthly that "all payroll taxes have been remitted".

    I have seen that in another country and the board likes it as it provide some assurance that there exposure to personal liability is reduced

  • What tools can a professional services firm implement to manage estimates & billing in a subjective billing culture

    Several small business companies much like mine do not host weekly or monthly quoting and billing practices training. In this fast-paced environment, the focus is on utility rather than tracking the quality or fairness of the billing to clients. It is very difficult to manage or control every billa…

  • Bitcoin Simplified - Laymen's Guide to Bitcoin

    Visit the blog to get a detailed post on what is Bitcoin from a laymen's perspective. https://medium.com/the-accouting-glutton/laymens-guide-to-bitcoin-470cdd82cea8

  • What kind of authority is needed to sign a signature on behlaf of some one else?

    In our post closing department, sometimes a document comes in that is missing either a Loan Officer or an Underwriter's signature on a document. The shipping specialist signs the LO or UW name to complete the package. Is this legal or does there need to be legal documents stating the Shipping Speci…

  • Latest data breach: Whole Foods

    "Latest data breach: The payment card information of Whole Foods customers who drank and dined in its taprooms and restaurants has been hacked. The grocery store chain, now part of Amazon (NASDAQ:AMZN), said those locations use separate checkout systems and information of its grocery shoppers weren…

  • Active Shooter

    Ready Houston under a DHS grant created this video on what to do during an Active Shooter. This is one by the LA County Sherriff' Department: You should share this with your companies Make a Plan Practice the Plan Make sure ALL employees know the PLAN

  • Treasury and Risk Management

    At what point in time do you believe the CFO needs to hire or create a treasury and risk manager/management departments?

  • How are you dealing with information theft by terminated employees?

      A recent article in CFO.com highlighted the damage that a disgruntled employee can cause after termination by a company. (Here is the link: http://tiny.cc/ptbcbw). As a CFO at various companies, we developed detailed protocols to try and avoid or mitigate this potential for damage.  When possible…

  • Let's talk about fraud, detection and prevention

    How many of us have a policy about fraud, outlining prevention and discussing detection? Here's an example of a policy statement that prevents or at least seems to prevent fraud: "Accepting or seeking anything of material value from contractors, vendors, or persons providing services/materials to t…

  • I work in banking and our company is looking for enterprise risk management software.

    Any suggestions on software, but more importantly, any suggestions on what we should be looking for out of the software?

  • New bank scam/malware exploit

    This is a new twist on a tried and true method of scamming businesses and individuals. And its being very successful. http://go.cfo.com/tgK52202Lz0u800AHa0009z I just had my Controller sit down with all that have access to the company's accounts (whether read-only or not) to discuss this article. L…

  • FCPA Pros & Cons; Who Is It Really Protecting?

    According to an article in CFO (Page 8, Sept 2014), the DOJ has initialized 13 investigations, the SEC 2 actions. While the difference in numbers has to do with investigating individuals vs companies, the question begs to be asked: If the only way to compete successfully in a foreign land where bri…

  • Little Green Men Make the List of ‘Extreme’ Risk Factors

    An article on CFO.com makes for some interesting (albiet brief) reading. Based on a report by Towers Watson, there are a whole bunch of risks that businesses should at least be aware of. Divided into 6 categories: Financial, Economic, Political, Environmental, Societal and Technological. What's you…

  • Financial Model Risk Management

    As a result of an internal audit we've been asked to develop some controls and governance around financially significant models used by the organization. (i.e. revenue models, capital models, risk mgmt models, etc.)  The project team has tracked down the Fed Reserve Board of Governers/Office of Com…

  • Private Placement Memorandum

    I need to draft a PPM and I am searching for PPM samples, preferably in the software industry. The "Risk Factors" section is particularly challenging. Does anyone have suggestions? Thank you.

  • Qualitative Risk Analysis vs Quantitative Risk Analysis Explanation Please

    What is qualitative risk analysis?

  • How to start a Business Continuity Plan (BCP)?

    Hi all, I am working in a manufacturing company, and my task now is to setup and maintain a Business Continuity Plan. This sounds to me that this is mostly related to risk management, but I really don't know how to start with it. Please advise me what I need to do to start it. Thanks.