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internal controls
Implementing Effective Controls: Best Practices for Employee Benefit Plans and Labor Organizations

For employee benefit plans (EBPs) and labor organizations, implementing controls that are both practical and responsive to their unique risk profiles is key. A well-designed control environment can help organizations manage risk while supporting compliance and operational objectives. Balancing Preventive and Detective Controls A well-designed control environment includes a mix of preventive and detective controls:…

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Withum’s Columbia Office Welcomes Greater Baltimore

Withum team members, clients and community leaders, including representatives from Howard County and the Central Maryland Chamber, came together to mark the official “door opening” on the new location. The ribbon-cutting ceremony highlighted the evening, which featured citations presented by community leaders welcoming Withum to the Columbia region and recognizing its strong ties to the…

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Nadia Matthie
Nadia Matthie Appointed as Chair of the AICPA’s Employee Benefit Plans Expert Panel

The AICPA’s Employee Benefit Plans Expert Panel was formed to protect the public interest and agree on key plan issues by leveraging the knowledge of leaders in the employee benefit plan industry. Nadia’s deep expertise makes her a valuable asset to help further the panel’s mission as Chair of the group. Nadia has more than…

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DOL Overhauls Financial Reporting: What the New Form LM-2 Rules Mean for Your Labor Organization

Form LM-2 reporting is a key component of how labor organizations demonstrate financial transparency and meet federal compliance requirements. Recent changes from the U.S. Department of Labor (DOL) represent a meaningful shift in reporting expectations, particularly for larger organizations.   The DOL has finalized significant revisions to labor organization financial reporting under the LMRDA, effective for fiscal years beginning on or after July 1, 2026. These changes represent the most substantial…

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What the Met Gala Spotlight Means for Financial Transparency in Labor Unions

The “Ball Without Billionaires” counter-event on Monday night drew significant attention, shifting the focus from the spectacle of the Met Gala to the voices of workers and organizers. The attention surrounding the Met Gala serves as a reminder of a critical reality: newly organized labor unions operate under heightened scrutiny from the beginning, particularly when…

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Aligning Controls With Risk: A Framework for Employee Benefit Plans and Labor Organizations

Effective internal controls are not one-size-fits-all. They must be tailored to the specific risks faced by an organization. For employee benefit plans (EBPs) and labor organizations, this means aligning control activities with operational, financial and compliance risks that are unique to their environments. A structured framework, such as the COSO model, which is an internal…

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