BondBeebe – Page 50

Bond Beebe Promotes Daniel Bottner to Tax Senior

Bond Beebe, a certified public accounting and advisory firm with offices in Bethesda, Maryland and Alexandria, Virginia, is pleased to announce the promotion of Daniel Böttner to Tax Senior. Böttner has been an employee of the Firm since 2008 and focuses on tax planning and compliance for individuals, partnerships, and small businesses.

Bond Beebe’s Personnel Committee recognized Böttner with this promotion for his skill and dedication in performing his responsibilities. “Daniel has shown the ability to accept new challenges and […]

March 23, 2012 Firm News & Events, Tax Read more...

When Push Comes to Shove: Addressing Payroll Audit Disputes, Part 1

Posting by Phil Vivirito

In this multi-part series, I will review the intricacies of payroll audit disputes, explaining the many different types of disputes, providing insights for how to establish the validity of a dispute, and delineating the various options for resolving a payroll audit dispute.

As payroll auditors, we like to think that our audits will never be disputed. Unfortunately, this is not always the case. Part of the payroll audit process is responding to and resolving disputed items with […]

March 21, 2012 Payroll Audit Read more...

Detecting Financial Statement Fraud: Part 2

Alex Helfand, ENCE, Computer Forensic Specialist

In the previous post , I reviewed common motivations for committing financial statement fraud, as well as several common ways that financial statements can be manipulated. This post covers additional misrepresentations and how forensic accountants identify them.
Concealed Liabilities and Expenses: Concealed liabilities can include warranties attached to sales, underreported Incurred-but-not-Reported (IBNR) health benefits, or simple omission of liabilities. Expenses can be concealed by capitalization that spreads the expense out over a number of years […]

March 21, 2012 Accounting, Forensic Accounting Read more...

The Payroll Auditor’s Role in Withdrawal Liability Cases

Posting by Ira Mitzner

Employer withdrawal liability (“EWL”) is a subject that makes an auditor roll his/her eyes and hope that this complex area of the law lies strictly in the jurisdiction of the actuary and EWL counsel. However, the auditor does have a role to play in the process.

What Exactly is Employer Withdrawal Liability?
First, some history and background. In 1980, Congress was concerned that employers were withdrawing from defined benefit plans, leaving liability (for future pensions) to those employers […]

March 16, 2012 Payroll Audit Read more...

DOL Increases Audits of Apprenticeship and Training Plans: Is Your Plan Prepared?

Jason Edwards, CPA

Apprenticeship and other training plans covered under the US Employee Retirement Income Security Act of 1974 (ERISA) have been a recent focus of the US Department of Labor (DOL). Programs for private sector workers and financed from trust funds are considered ERISA apprenticeship and training plans.

Increased Audits
The DOL is increasing regulation enforcement with audits of these plans, specifically focusing on kickbacks and other fiduciary violations. A kickback is defined as an illegal, secret payment made in return […]

March 14, 2012 Accounting, Audit, Benefit Plan Accounting Read more...

Legal Update: Using Mechanics’ Liens to Fund Unpaid Employer Contributions

Posting by Larry Beebe, CPA

A Pennsylvania Superior Court, in a 7-2 decision, ruled that benefit fund trustees have the right to file mechanics’ lien claims for unpaid fringe benefit contributions. The court ruled that unions were subcontractors who had agreed to furnish labor to the contractor and as subcontractors they had the right to file mechanic’s lien claims for unpaid employer contributions (Bricklayers of Western Pennsylvania Combined Funds Inc. v. Scott’s Development Co., PA. Super. Ct., No. 687 WDA […]

March 13, 2012 Benefit Plan Accounting, Payroll Audit Read more...

Detecting Financial Statement Fraud: Part 1

Alex Helfand, ENCE, Computer Forensic Specialist

Of the three types of occupational fraud – corruption, asset misappropriation, and fraudulent financial statements – financial statement manipulation has the potential to cause the greatest impact. Just as there are many motives to commit an intentional misstatement or omission of amounts on the face of the financial statements or in the note disclosures, there are also many items forensic accountants, and users of the financial statements, can look for to ensure that they […]

March 13, 2012 Accounting, Audit, Forensic Accounting Read more...

Crane & Company – This “Stationery” Family Keeps Moving in the Paper Business

Posting by Joel C. Susco, CPA, Principal

Imagine a time over 200 years ago, when there were no cameras, no tape recorders, no videos; a time when some of our most important historical documents were written. Most people are familiar with the cookware called “Revereware” and know the origins come from the silversmith Paul Revere of American Revolution fame. You should perhaps also become familiar with the family business Crane & Co., a stationery firm that got its start as […]

March 12, 2012 Family Owned Businesses, Uncategorized Read more...

Fund-a-mentals Winter 2012 Newsletter

Natalie

We’ve just released the latest edition of the Fund-a-mentals Newsletter! This issue includes more information on the new Department of Labor disclosure requirements affecting retirement plans, as well as an over view of the new Form 5500.

Download the Fund-a-mentals Winter 2012 Newsletter
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March 6, 2012 Accounting, Audit, Benefit Plan Accounting, Human Resources Read more...

Hiring a Payroll Audit Firm, Question 2: How Many Audits Do You Perform?