Industry FocusOur firm has specialization in serving companies in a number of key industries including insurance, nonprofits, construction, manufacturing, SEC-registered companies and professional athletes. Learn more about JLK Rosenberger and discover why so many across California and Texas have entrusted us with their audit, tax, consulting and business advisory needs.
News & Updates
Internal Control Assessment Requirements
A key factor in the detection and prevention of fraud is strong internal controls. Section 404(1) of the Sarbanes-Oxley Act (SOX) requires that public company’s management annually assesses the efficacy of internal controls over financial reporting. Section 404(b) of SOX requires independent auditors provide an attestation report on the assessment of internal controls by the company’s management (though some smaller companies are exempt).
TCJA Changes Expense Deductibility
The Tax Cuts and Jobs Act (TCJA) has introduced changes in deductibles, reducing or eliminating many of them. With the end of the year approaching it is important that you review your business expenses and identify deductibility. You may also want to evaluate whether accelerating certain expenses into this year would be beneficial. The TCJA changes may also require, or make favorable, for you to change your expense or reimbursement policies.
Top Enterprise Risk Management Misconceptions
When it comes to Enterprise Risk Management (ERM), many believe the effort needed to gain buy-in, implement and manage, outweigh the potential benefits. While it can be challenging, the benefits to the organization are substantial and continue to grow as the program is refined and optimized. Perception is often reality, and there are several misconceptions about ERM that tend to dissuade insurance companies from considering this increasingly important management strategy.
Evaluating Your Insurance Company Auditor
An audit is often viewed as a compliance exercise that doesn’t offer much value to management other than satisfying a reporting requirement. A proper audit process is often described as one that was completed on time and with few surprises. A bad audit process breeds the mentality that the audit is to be tolerated, endured and celebrated when finally finished.