Cyber-attacks are increasing in sophistication and magnitude of impact across all industries globally and can negatively impact a company's reputation and market value. Thus, all companies need to fully understand the value of the information assets they possess, the cybersecurity related risk of a data breach, and then factor the benefits and risk variables into their respective business equation. Spending thousands of dollars on some or all of the key cybersecurity recommendations would significantly reduce the impact of a data breach, thus saving millions of dollars.
Risk Management
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How Your Board Can Better Oversee Cyber Risk
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Having a good cyber risk management program in place might help a company prevent some breaches. But more importantly, when a breach does happen, it can help companies get back on their feet faster and mitigate financial and reputational damage. How do you know whether your company is doing what it should to address the risk and become cyber resilient?
Minimize Basement Flooding With a Sump Pump
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Finished basements are at elevated risk during heavy storms, making electronic and recreational equipment, furniture, mechanical systems, and other items susceptible to damage. Basement flooding can be exacerbated by a power failure, which may cause a disruption in water removal systems. One of the best investments to protect against water damage is a sump pump with a battery back-up.
Get a first look at the new FOX research on managing opportunities and risks in the family enterprise. This research focuses on a process for the family to address future uncertainties, recognizing both known and unknown risks a family may face in the 21st century. Families who can embrace change, seek opportunity, and manage uncertainty will create the most resilient enterprises of the future.
Global Risks and Your Risk Management Strategy
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Each year, the Global Risks Report, published by the World Economic Forum at Davos, in partnership with Marsh & McLennan Companies and Zurich Insurance Group, is a critical guide to explore some of the major challenges and risks of the world. Understand how decision-makers across the industry can find opportunity amid today’s global challenges. From geopolitical turmoil, to environmental dangers, and cyber threats, we will discuss how businesses may find benefit in applying some of the same contingency planning principles to a wider array of risk planning.
Family Office Structure: Lender Decision
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In December of 2017, the U.S. Tax Court decided in the Lender Management, LLC v. Commissioner case that deductions that were part of a taxpayer’s trade or business were deductible under Section 162; however, deductions under Section 212 were suspended through tax year 2025. Following the suspension of the 2-percent miscellaneous itemized deductions, family offices should consider whether entity restructuring will enable them to deduct expenses under Section 162, rather than under Section 212.
New York State and City Raise Bar for Employers in Handling Sexual Harassment Allegations
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Both New York State and New York City have recently passed a series of laws that significantly increased the protections against sexual harassment in the workplace. These laws outline additional and specific requirements—including the adoption of anti-sexual harassment policies and training—that employers must comply with over the next year.
The 5 Questions To Ask Your Controller
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As the office of the controller becomes ever more strategic—creating higher levels of financial visibility to help drive growth and profitability—the financial organization’s relationship to the controller role must evolve as well.
Planning Ideas for the Ages: Your 40s-70s
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Each decade of life brings unique challenges and opportunities, financial and otherwise. Focusing on each stage from the 40s to the 70s, we highlight the planning issues that may be ripe for your consideration, including revisiting your estate plan, downsizing your home, and constructing your general retirement plan.
Hurricane Preparedness: A Basic Checklist
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Each year thousands of property owners and their families are affected by natural disasters and the financial damages can be devastating. Although it may seem there is very little that can be done to prepare against a hurricane, there are practical steps before, during, and after the storm that you can do (or not do) to protect yourself, family, and personal property.