BondBeebe – Page 80

You Can’t Pick Your Family, or Can You? Treating Employees “Just Like Family”

Posting by Jacqueline M. Thompson, CPA, Principal

So often we hear of a business that seems more like a family, whether or not they are related. “I treat my employees just like family.” Well, a few episodes of the E True Hollywood Story teaches us that not all “families” operate well together, but in general this is meant to be a positive. Often the owner has a more paternalistic management style, and they feel that everyone works together and is […]

July 20, 2009 Family Owned Businesses, Human Resources Read more...

Payroll Auditing Can be a Grind

Posting by Kurt Needles, CPA

Last week I was going out of state to work on an annual audit client. Another client in the same town had a delinquency issue, so since I was already going to be there, I said I would do it. After all, it was only five guys for a short audit period. How bad could it be?

Well, sometimes I forget what a tough job payroll auditing can be. The owner’s wife was overbearing, and the […]

July 20, 2009 Payroll Audit, Uncategorized Read more...

Why We Don’t Do Payroll Audits – Reason 5

Posting by Larry Beebe, CPA

“Our Union Has Strong Shop Stewards Who Know Everyone in the Union”

Are all shop stewards equally strong? Does each employer signed to the collective bargaining agreement (CBA) have a shop steward? Does the shop steward have enough time and authority to review the employer’s payroll records to insure that all hours worked in accordance with the CBA are properly reported? Does the shop steward have the skill level to know whether all hours are properly […]

July 20, 2009 Payroll Audit Read more...

Formatting Tips and Considerations for Writing up the Payroll Audit

Posting by Kurt Needles, CPA

I have seen many different formats used by CPAs to transmit the results of the audit to the TPA. I had an administrator corner me before a Trustee’s meeting and tell me point blank that they do not want payroll audits performed because each one takes hours and hours of administrative time to key into the system. Needless to say, I assured him that our format is TPA-friendly. Within the year, the TPA got us […]

July 17, 2009 Accounting, Payroll Audit Read more...

Family Business Succession Planning – Resistance is Futile

Posting by Joel C. Susco, CPA

Many of us prefer not to think about what will happen upon our death; we say, “Let someone else deal with it.” But none of us are immortal, and failure to make proper plans can mean that we leave behind a mess which needs to be sorted out by our loved ones. At a time when they are emotionally vulnerable, such failure to properly plan could potentially lead to great expense and consume a […]

July 16, 2009 Accounting, Family Owned Businesses Read more...

The Greater Washington, D.C. Family Business Alliance Launches as “Go To” Resource for Area Family Businesses

Bond Beebe, a Washington, D.C. based certified public accounting and advisory firm with offices in Maryland and Virginia, announced today that it has launched the Greater Washington D.C. Family Business Alliance (“The Alliance”) to serve as a “go to” resource for family-owned and operated businesses located in Maryland, the District of Columbia and Northern Virginia. The Alliance’s mission is to help family businesses by providing them the information, knowledge and resources to succeed in business and their family lives. […]

July 15, 2009 Family Owned Businesses, Firm News & Events Read more...

Trustee Reports on Madoff Victims and Claims

John Merchant, CPA, CFE

On July 10, 2009, Irving Picard, the court-appointed trustee who is overseeing the liquidation of Bernard Madoff’s assets and repayment of funds to those he defrauded, officially reported what many have suspected since news of the fraud first broke. Picard reports that it is unlikely that investors can be made whole on their losses because there simply are not enough assets to satisfy all of the claims. Picard further reports that unraveling the mess will be […]

July 13, 2009 Accounting, Forensic Accounting Read more...

AIG Executives to Receive More Bonuses

John Merchant, CPA

The Washington Post reports that AIG, the insurance company that sought and received billions in bailout funds from the federal government due to financial failures, is planning the payout of bonuses to some of its top executives. Just a few months ago, AIG created a firestorm of controversy upon paying millions of dollars in executive bonuses after receiving federal bailout money. The Company now seeks to pay additional bonuses, based on promises made in 2008. For this […]

July 13, 2009 Accounting, Wealth Management Read more...

Auditor Suspicions Lead to Investigation

John Merchant, CPA, CFE

Those who question the value of independent audits and investigations by certified public accountants and certified fraud examiners may wish to consider a court case recently initiated by the SEC. On July 6, 2009, the SEC filed a complaint in United States District Court alleging that the former CFO of UCI Medical Affiliates, Inc., a public company based in South Carolina, had embezzled nearly $3 million from the Company. The Complaint alleges that the embezzlement was […]

July 12, 2009 Accounting, Audit, Forensic Accounting Read more...

Mad About Madoff: How Much of the Family Business Did This Family Know About?