Compliance and Risk Management

Dust Off Those Records Retention Policies and Do Some Spring Cleaning

It is that season again – time for spring cleaning!  Before you start purging your cabinets, drawers, emails, and files, you should review your company’s Records Retention Policy.  Don’t have one of those?  Well, now’s a good time – before the purge – to establish the guidelines for retaining and discarding the company’s records and…

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ERM for SMBs

Sorry to be heavy on acronyms, but the “ERM” abbreviation for Enterprise Risk Management has a firm place in the management practices of larger business organizations.  There may be some variation in specific objectives across ERM programs, or in the key process steps of the program, but all ERM frameworks involve identifying and naming risks…

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Don’t Rely on Certificates of Insurance!

Many business situations merit obtaining additional insured status on the policy of another party.  A distributor or purchaser may want it on a manufacturer’s policy. A commercial building owner may want it on a tenant’s policy. A business owner might need it from its general contractor in a remodeling or new construction project. And a…

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Is Your Business Losing 5% of Your Annual Revenue to Fraud?

The Association of Certified Fraud Examiners (ACFE) has estimated the typical business loses 5% of its annual revenues to fraud each year and has reported that in almost 25% of the surveyed cases the fraud resulted in a loss of at least $1,000,000 (ACFE Report to the Nations on Occupational Fraud and Abuse, 2016 Global…

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Small Businesses Need Compliance Programs, Too

There’s a good chance you’re thinking that your small business doesn’t need a compliance program. Think again. Federal regulations of the U.S. Sentencing Commission require that a business maintain an effective compliance program to qualify for steeply reduced legal penalties for violating federal law. I can’t think of a business that isn’t regulated by federal…

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