The RMC Advisors

ERM and Free CPE Credits!

 

Do you want to learn more about Enterprise Risk Management and earn two free CPE credits at the same time? Would you like to do this without leaving your desk? Do you know anyone who needs CPEs or is interested in ERM? If so, I encourage you to take the time to complete this self-study course and share this opportunity with your colleagues. Please allow two hours to obtain the most benefit from this course.

The objectives of the course are to provide you with a basic understanding of ERM including the terminology, implementation steps and some key ERM concepts. The topics covered are:

• COSO Introduction
• ERM Framework vs. Internal Control Framework
• ERM Implementation
• Theorize and Quantify Key Concepts
  • Risk Appetite/Tolerance 
  • Inherent Risk
  • Strength of Controls
  • Residual Risk

The session provides information in both a visual and auditory format. Upon completion of the course, you will be requested to complete a 13 question multiple choice quiz and submit the quiz to M&A for grading. As long as you receive a 70% or higher and complete the course evaluation form, you will be awarded 2 CPE credits. McKonly & Asbury, LLP is an approved continuing professional education program sponsor through the Pennsylvania State Board of Accountancy.

Any questions or comments related to this training can be directed to Elaine Nissley, Principal at ENissley@macpas.com or by calling (717) 761-7910.

Step 1: To download the course click here. (Once downloaded. Begin slideshow)

Step 2: To download the quiz click here. (Check the box next to your answer)

Step 3: Please send your completed quiz (Including your name, company name, e-mail and phone) to Elaine@macpas.com.

Charities Beware: Does It Look Too Good To Be True?

The Case

Are you in a position to accept charitable donations, sit on the Board of Directors of a charity, or donate to charities? What would the organization(s) you are affiliated with do if an insurance company offered them a stock certificate for 226,112.55 shares of insurance company stock and a check for $20,000? Would they accept the stock certificate and check? Would they agree to write a receipt and have their picture taken with the stock certificate? That is exactly what 20 charitable organizations did and they are now left with 5% ownership in Walshire and unforeseen potential financial liabilities. More detail is in the court opinion located here. It is noted that these transactions were for the purpose of having the charitable organizations accept the detritus (debris). When you look at the list of organizations involved in this case, you find names of prominent organizations which many of you may have dealt with.

The Solution

What should an organization do to avoid becoming a victim of donation schemes? The following are several steps organizations should take.

Breaking News in Information Security

 This week there is breaking news in the world of information security that you will read about in this and 50 different blogs.  It is ground-breaking stuff that will astonish and astound you, and more than likely you will read it and be amazed.  AMAZED I say!

What is this revelation in the world of security?  What could so many be writing about this week?  It is this:

Security of information is mostly about doing the basics.

If you read 50 articles on information security, you will discover a common thread among them all: in one way or another they are talking about limiting rights, locking things up, reviewing access rights, and limiting exceptions to the rules.  While this is not rocket science, it does take time to complete, and more importantly, the effort to do it.

The most surprising part is that this is not new stuff.  Last week while perusing a text1, I found the following security principles regarding coding and IT: Seven Design Principles of Computer Security: