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Assurance Archives | Delap CPA

10 Jan

Taking a Fresh Look at Medical Malpractice Liabilities

January 10, 2019 | By | No Comments

At one point or another, it’s likely to happen to any healthcare organization: a patient files a medical malpractice claim.  The first order of business is usually a call to your attorney and malpractice insurance carrier.  But what about a call to your accounting department?  Is there even an accounting implication when a malpractice claim […]

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27 Dec

Financial Institutions: Don’t Ignore the New Revenue Recognition Standard Because It Lacks Interest

December 27, 2018 | By | No Comments

Back in 2014, the Financial Accounting Standards Board (FASB) issued ASU 2014-09, Revenue from Contracts with Customers, which created a new section in the FASB’s Accounting Standards Codification: ASC Topic 606 (ASC 606). Prior to the establishment of ASC 606, the revenue recognition guidance in GAAP consisted of some broad revenue recognition concepts, along with […]

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07 Nov

Employee Benefit Plan Guide for Plan Administrators – Part 2: Common Contribution Considerations

November 7, 2018 | By | No Comments

Have you ever wondered what the auditors of your employee benefit plan (EBP) are doing all day?  We’re about to let you in on a little secret! Operating an EBP requires a variety of significant processes. One such process includes ensuring the Employer applies all contributions on a timely basis. In addition, verifying each participant […]

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06 Nov

Employee Benefit Plan Guide for Plan Administrators – Part 1: Eradicating Eligibility Errors

November 6, 2018 | By | No Comments

Our team at Delap audits 50+ employee benefit plans (EBP) each year. When it comes to EBP compliance issues, we’ve seen it all. Participant eligibility is one of the top 3 operational violations we see. What type of participant eligibility issues do we see? The most common violations related to the Plan not operating in […]

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09 Mar

Verify Before You Trust: Implementing A Validation Policy For Your Company

It’s that time of year again; fraudsters are out in droves looking for ways to obtain data about you and your employees in order to cash in on filing fraudulent tax returns! So what are a few steps you can take as an employer to reduce the risk of unknowingly providing fraudsters with the very […]

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