- Bylaws should govern how a cooperative operates. However, too often business evolves faster than bylaws.
- As demand for food and commodities continues to rise, the impact on agricultural cooperatives throughout the country is leading to consolidation. This is setting the stage for increased merger and acquisition activity.
- Minnesota’s sales and use tax requirements for certain capital equipment purchases have changed. This article addresses what cooperatives and other businesses should know about the new requirements.
- The AICPA recently released an exposure draft of the proposed revisions to the Trust Services Principles and Criteria. The most significant change in the proposed revisions is the integration of the privacy principles and criteria into the common criteria.
- Since the Committee of Sponsoring Organizations (COSO) issued its Internal Control — Integrated Framework (2013 Framework) in May 2013, many organizations have implemented the new framework to comply with the initial December 15, 2014 transition deadline. The 2013 Framework requires management to assess whether 17 principles are present and functioning, which is a change from the previous framework. Further, the 2013 Framework includes points of focus, which are important characteristics of the 17 principles and assist management with determining whether controls are properly present and functioning.