Does Your 401(k) Plan Need An Audit?

Some businesses’ 401k and retirement plans are too small to need an external audit. Generally speaking, only when your participant count exceeds 100 will you be required to conduct a benefit plan audit. However, there is one exception to this general rule. The “80-120 rule,” as it is commonly known,

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2020 Compliance Requirements for Federal Funding: What we Know Now

Along with many other personal and professional disruptions this year, COVID-19 is impacting the regulatory environment for organizations with funding covered by the Office of Management and Budget’s (OMB) Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (commonly called “Uniform Guidance”), and potentially subject to a single

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Solution for GASB Standard 84 Changes Set by KDE

The Kentucky Department of Education (KDE) released information regarding the newly effective GASB Standard 84. This governs most of the reporting for School Activity Funds, and districts should start implementing the change now for their fiscal year 2020 audit. To execute this change, Fund 25 and Org code segments will

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