City of Albuquerque Scammed Out of $420,000

This past March, the city of Albuquerque, New Mexico, fell victim to a wire scam resulting in approximately $420,000 of lost taxpayer money.  The scam allegedly occurred when a fraudster made an illegitimate request to change vendor payment information, thereby routing funds to the scammer.  It is uncertain at this

Read More

Fiduciary Rule Evaluation – No Action Taken Yet

In February 2017, President Donald Trump ordered the United States Secretary of Labor to perform an analysis of the U.S. Department of Labor’s (DOL) proposed investment fiduciary rule for retirement plan advice.  The DOL first proposed the rule in September 2010 and re-proposed the rule in April 2015, finally making

Read More

How a SOC Audit Creates Flexibility on your Internal Commitments

If your business provides outsourced service functions like payroll, cloud computing, document management, SaaS, or many others, your customers may be looking for independent validation of your controls. This could be to satisfy their own Sarbanes-Oxley requirements or as part of their own internal due diligence on vendors. In one

Read More

Barnes Dennig

Businesses routinely develop new or improved proprietary internal use investment or valuation models, proprietary financial software, improved software algorithms for security, and new coding to improve speed and functionality. Internal use computer software (IUS) that is developed by (or for the benefit of) the taxpayer primarily for back-office functions is

Read More