Alerts

A Perspective on Responding to Requests for Production

By: Hank Shechter , CFE The focus of my work is to provide litigation support services mostly in divorce matters. One important function in providing these services is to obtain and provide documents from the parties to properly analyze the financial condition and lifestyle of the divorcing couple. I interact with the parties’ attorneys who regularly prepare document requests, also called requests for production (RFPs), and motions to compel amongst other pleadings to identify assets, liabilities, earnings power, childcare needs and spending habits of the couple. It is an interesting exercise if you like piecing puzzles together. Some of the language in. Read More.

International Arbitration

By: Katherine Newman , CPA, CFF Global companies are increasingly opting to include international arbitration clauses for dispute resolution in their cross border contracts. Disputes are generally resolved more quickly, and the litigation costs can be significantly lower. Traditional litigation in the U.S. usually entails sweeping discovery, even when a major portion of it is not used. Arbitration is usually faster and less time consuming, therefore less costly in terms of both internal and external resources. Perhaps the most compelling reason to use arbitration is having a neutral venue with well-defined procedures and standards. If a contract is between companies based in. Read More.

Valuation of Complex Capital Structure

By Gustavo Perez , ASA, IA; Principal, National Leader, Valuation Services The valuation of different layers of ownership securities in companies with complex capital structures has been gaining popularity among those looking to raise capital, as well as with investors willing to provide such capital in exchange for securities that are senior to common stock while still providing greater returns than debt. In addition, many companies see stock-based compensation grants, commonly referred as “cheap stock,” as a way to align their goals with the goals of their employees. As these securities continue gaining popularity among investors, employees and companies, the Internal Revenue service. Read More.

Data Forensics in the Cloud: Litigation Awareness

By: Steven A. Wolf , CPA, CFE, CFF &  Matthew E. Druckman , CPA, CFF, CIRA Introduction to Cloud Computing Cloud computing continues to radically change the way information technology services are created, delivered, accessed and managed. Experts agree that cloud computing has the potential to become one of the most transformative developments in the history of computing, following the footsteps of mainframes, minicomputers, PCs and smartphones [1] (Perry et al., 2009). Questions continue to evolve, such as: What impact will the cloud have in digital forensics and data discovery? Will third-party cloud service providers (“CSPs”) have potential liability with respect to providing data security, data integrity, storage. Read More.

Updated Brokered Deposits FAQs & Exemption Thresholds Announced

Helping with brokered deposits and addressing concerns regarding statutory limitations, the Federal Deposit Insurance Corporation has released an updated version of its frequently asked questions (FAQs). Covered in the FAQs are examples of what is considered a deposit broker and exceptions to the limits on brokered deposits. Causing destabilized financial and liquidity positions during continuous economic cycles, several banks have employed brokered deposits for funding unreliable or fast expansion of loan and investment portfolios. In addition, problematic financial institutions overusing and mishandling brokered deposits have added to bank failures and Deposit Insurance Fund losses. Meanwhile, the Office of the Comptroller of the Currency,. Read More.

Supporting Organizations: Get Ready for the Expanded Schedule A to Form 990

If you are a supporting organization, completion of the Form 990 for 2014 may be more time consuming due to significant changes to Schedule A. Schedule A now has two new sections:  Part IV, Supporting Organizations, and Part V, Type III Non-Functionally Integrated 509(a)(3) Supporting Organizations. In addition, Part I, Reason for Public Charity Status (Line 11), has also been modified. These changes are summarized below. Part I If an organization is claiming public charity status as a supporting organization under Section 509(a)(3), it must check the box for Line 11 and indicate whether it is a Type I, II,. Read More.

Changes Coming to SBCs

Discussed in Cherry Bekaert Benefits Consulting’s (“CBBC”) newest Health & Benefits Update, “Changes Coming to SBCs” , the Departments of Health & Human Services, Labor and Treasury has proposed numerous changes to the health plan Summary of Benefits and Coverage and Uniform Glossary of Terms. The changes clarify many of the existing provisions included in the 2012 final rules and subsequent Frequently Asked Questions. Other revisions being considered include removing references to annual limits for essential health benefits, adding a third coverage example to show potential out-of-pocket costs for treating a foot fracture in an emergency room, and updating and adding new definitions to. Read More.

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