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Our Blog acts as a great resource of stored topical information for the AAFCPAs finance community. Please share with us your thoughts on hot topics. Remember to use the search function to benefit from our past shared learnings.

Best Practices for Complying with HIPAA & Safeguarding Patient PHI Accessible to Your Business Associates

Best Practices for Complying with HIPAA & Safeguarding Patient PHI Accessible to Your Business Associates

Healthcare is predicted to be the most targeted industry for cyberattacks in 2017, according to the 2017 Data Breach Industry Forecast from Experian.   “Electronic health records remain likely to be a top target for hackers,” Experian found. To further heighten & complicate these risks, providers’ responsibilities for protecting personal health information (PHI) under the Health Insurance Portability and Accountability Act (HIPAA) extend to certain vendors, referred to as “business associates... continue reading

The Bucket System: Managing Your Assets in the Face of Volatility

The Bucket System: Managing Your Assets in the Face of Volatility

Nonprofit World Magazine – Joel Aronson, wealth advisor, AAFCPAs Wealth Management provides members of the national Society for Nonprofits (subscriber content) with insight into a simple system that is key to financial stability. As a nonprofit leader, you’re no stranger to cash flow crunches. But you can attain a new level of stability if you persevere with a vision of stronger revenue capital management. The key is to look at your... continue reading

OMB Further Extends the Effective Date for the Procurement Standards of the Uniform Guidance

AAFCPAs would like to make clients aware that on May 17, 2017, the U.S. Office of Management and Budget (OMB) issued a correcting amendment extending the effective/applicability date of the procurement standards under the Uniform Guidance (UG). The procurement standards were one of the areas of significant change under the UG, and nonprofits receiving federal grants and contracts may welcome the OMB’s announcement that they have provided for a grace... continue reading

Measures to Protect Against Malicious Ransomware

In the wake of the recent, global WannaCrypt ransomware attack, which crippled thousands of computers in more than 200,000 organizations and 150 countries, AAFCPAs would like to remind clients of the critical importance of taking measures to protect against malicious cyber-attack. What is ransomware and WannaCrypt? Ransomware is a malicious software that locks a device, such as a computer, tablet or smartphone and then demands a ransom to unlock it. ... continue reading

Identifying strategic partnership options for provider organizations navigating reimbursement complexities

Behavioral health is one of many healthcare sectors caught in the midst of uncertainty, as healthcare reform again stands on the cusp of massive changes. With the reimbursement model shifting from fee-for-service to fee-for-value, provider organizations are tasked with understanding those changes, while determining what an episode of care entails. Behavioral health is one of the areas that remains ambiguous. Pricing for behavioral healthcare continually stumps payers, as ongoing care... continue reading

AAFCPAs Joins PrimeGlobal Alliance. The world’s fourth largest CPA firm association will provide national and global reach.

AAFCPAs Joins PrimeGlobal Alliance. The world’s fourth largest CPA firm association will provide national and global reach.

Westborough, MA (May 15, 2017) – AAFCPAs, a best-in-class public accounting firm known for assurance, tax, accounting, and business & IT advisory solutions, today announced it has joined PrimeGlobal, the fourth largest accounting firm association in the world. PrimeGlobal is a thriving CPA firm association that coordinates communication and resources among the independent member firms of its four autonomous regional members: North America, Europe, Asia Pacific, and Latin America &... continue reading

How Your Form 990 May Trigger an Audit

AAFCPAs would like to make our clients aware that the IRS is now taking a data-driven approach to reviewing the Form 990, Return of Organization Exempt From Income Tax, to scrutinize governance, accountability and oversight of exempt organizations.   The IRS’s Exempt Organizations (EO) compliance specialists are now using data queries to better focus their examination plans on areas or issues where there may be greater risks of non-compliance. IRS Exempt... continue reading

AAFCPAs David Consigli to Present at Massachusetts Collaborative Law Council Forum

David Consigli, Jr., CPA, ABV, AAFCPAs’ Director of Business Valuations, will serve on a collaborative law panel discussing “Growing the Pie: Introducing Experts Who Create Value for Clients.”  This session is part of the Massachusetts Collaborative Law Council’s (MCLC) Networking & Educational Forum on Cultivating Collaboration: The Changing Faces of Collaborative Law (CL), scheduled for Friday, May 12th. Divorce cases that include family business ownership in the couple’s portfolio (or... continue reading