O’Connor & Drew Blog
The Latest Information From The Professionals At O'Connor & Drew, P.C.
The Higher Education Emergency Relief Fund (HEERF III)
HIGHER EDUCATION The Higher Education Emergency Relief Fund (HEERF III)Nelia Kruger, CPA, MSA12 July 2021The Higher Education Emergency Relief Fund III (HEERF III) was authorized by the American Rescue Plan (ARP), Public Law 117-2, signed into law on March 11, 2021,...
GASB 87 Update
HIGHER EDUCATION GASB UpdateSteven J. Cohen Principal, CPA, CGFM12 July 2021In June 2017, the Government Accounting Standards Board issued GASB Statement Number 87 (GASB 87), Leases. It is effective for fiscal years beginning after June 15, 2021 – this translates to...
Auto Dealers: The Latest Targets of Ransomware
IT AUDIT & SECURITYAuto Dealers: The Latest Targets of RansomwareEmily Connolly, IT Security Analyst, OCD Tech12 July 2021Organizations are relying on their cyber infrastructure now more than ever as one of the most pervasive and devastating cyberattack vectors as...
Cost Savings: A Never Ending Battle
AUTOMOBILE DEALERSHIPS Cost Savings: A Never Ending BattleTodd E. Merriam Manager, CPA, MSAwithJohn Corcoran, Rinn Advisors12 July 2021The old saying nothing is certain but death and taxes should be updated to include cost increases. Especially over the last year,...
The Importance of An Investment Committee
EMPLOYEE BENEFIT PLANS The Importance of An Investment CommitteeKimberly A. Reed Principal, CPA 14 June 2021As a plan sponsor, it is important to understand your fiduciary responsibilities under the Employee Retirement Income Securities Act of 1974 (“ERISA”). These...
Fiduciary Duties
EMPLOYEE BENEFIT PLANS Fiduciary DutiesKimberly A. Reed Principal, CPA 14 June 2021The Department of Labor (“DOL”) and Internal Revenue Service (“IRS”) continuously stress the importance of plan sponsors understanding their fiduciary duties in regard to their employee...
Cybersecurity Guidance
EMPLOYEE BENEFIT PLANS Cybersecurity GuidanceKimberly A. Reed Principal, CPA 14 June 2021The U.S. Department of Labor recently announced new guidance for plan sponsors, plan fiduciaries, record keepers and plan participants on best practices for maintaining...
Protecting Student Information: Institutions of Higher Education and Compliance with NIST 800-171
IT AUDIT & SECURITYProtecting Student Information: Institutions of Higher Education and Compliance with NIST 800-17119 May 2021Kate Upton CMMC Team Lead, OCD TechIn a publication from the US Department of Education (Department), dated December 18, 2020, the...
Still Low on New Vehicle Inventory? Here’s Why…
AUTOMOBILE DEALERSHIPS Still Low on New Vehicle Inventory? Here’s Why... Benjamin DeForest Manager, CPA 12 April 2021 The automotive industry faced many challenges at the beginning of the COVID-19 pandemic, including keeping dealerships sanitized, complying with...
Chargebacks: The Third Rail of Service and Insurance Contracts
AUTOMOBILE DEALERSHIPSChargebacks: The Third Rail of Service and Insurance Contracts Vincent Guarino Manager, CPA 12 April 2021Note: O’Connor & Drew, PC is not a law firm. Please consultant your attorney for any legal advice. Currently, there are several class...
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