Spring 2014 issue of Horizons

TABLE OF CONTENTS

horizons A publication by RubinBrown LLP SPRING 2014

Features

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Welcome from the Managing Partner

RubinBrown News

Chairman’s Corner

Chairman James G. Castellano, CPA, CGMA

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Protect Your Organization with Cyber Resilience

Managing Partner John F. Herber, Jr., CPA, CGMA

BIG Problems with Small DATA

Information Technology Due Diligence: Often Overlooked but Vital to Deal Success

Denver Office Managing Partner Gregory P. Osborn, CPA Kansas City Office Managing Partner Todd R. Pleimann, CPA

Private Company Financial Reporting: After Decades of Scrutiny, Relief May Finally be Here

Outsourced Accounting: Paving the Way for Success in Our Economic Climate

Timely Reminders

Editor Dawn M. Martin

Industry-Specific Articles colleges & universities Cyber Security Risks for Universities New risk factors and manufacturing & distribution Cyber Security in the Supply Chain 33 45 58

Art Director Jen Chapman

not - for - profit An Update on Not-For- Profit Financial Reporting Senior project manager covers FASB’s NFP Financial Reporting Initiative .

Horizons , a publication of RubinBrown LLP, is designed to provide general information regarding the subject matters covered. Although prepared by professionals, its contents should not be construed as the rendering of advice regarding specific situations. If accounting, legal or other expert assistance is needed, consult with your professional business advisor. Please call RubinBrown with any questions (contact information is located on the back cover). Under U.S. Treasury Department guidelines, we hereby inform you that any tax advice contained in this communication is not intended or written to be used, and cannot be used by you for the purpose of avoiding penalties that may be imposed on you by the Internal Revenue Service, or for the purpose of promoting, marketing or recommending to another party any transaction or matter addressed within this tax advice. Further, RubinBrown LLP imposes no limitation on any recipient of this tax advice on the disclosure of the tax treatment or tax strategies or tax structuring described herein.

The risk of protecting information that exists with suppliers.

creating a control system to protect a university’s assets and data.

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life sciences Protecting Intellectual Property Identifying IP inventory and mitigating IP risks.

construction

gaming Regulating Online Gaming: A Focus on Security A look at regulation from the first three states to legalize online gaming. professional services Safeguarding Electronic Health Records & Law Firm Security: Steps to Protect Your Firm Safeguard protected health information; plus protect firm and client information at organization, technical and physical levels.

Succession Planning: An Introduction for Construction Companies Building value, grooming a successor, transferring ownership, and other considerations for succession planning.

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public sector Data Analysis: A Resilient Approach to Control Spending Using data analysis to impact the bottom line.

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transportation & dealerships

Simple Steps to Increase Profitability for Transportation Companies & Auto Dealers Tips to ensure you fully maximize profitability

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Readers should not act upon information presented without individual professional consultation.

real estate

Positive News for the Historic Tax Credit Industry Much anticipated

with your current revenue stream.

Revenue Procedure 2014-12 establishes a safe harbor.