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21 Oct 2020
Managing Third Party Service Provider Risks
Loss or theft of customer, financial, or employee data, even if not financially material, could cause permanent operational and reputational damage to companies. Companies that collect and maintain significant amounts of sensitive nonpublic information are susceptible to Cybersecurity attacks and […]
Managing General Agents (MGAs)
Johnson Lambert offers financial statement audit, SOC report, and consulting services optimized for these unique organizations. Carriers rely on the completeness and accuracy of premium and loss data from entities that have been delegated underwriting authority. Controls over the information […]
11 Feb 2019
Majority Equity Interest Reporting, the GASB Provides Clarity
If your government holds majority equity interest (MEI) in another organization, have a look at the Governmental Accounting Standards Board Statement (GASB) Statement No. 90, Majority Equity Interest. Issued in August 2018, the goal of GASB Statement 90 is to […]
22 Jul 2019
Major Accounting Standards Destined for Delay
Financial preparers caught a break on Wednesday, July 17, when FASB voted to have staff recommend new effective dates of four accounting standards: leases, credit losses, hedging, and long-duration insurance contracts. This is welcomed news after many recent challenging updates, […]
14 Aug 2019
The Internal Revenue Service (“IRS”) has released the final revised loss discounting factors just in time for the final countdown toward the extended tax return filing deadlines. Revenue Procedure 2019-30 offers the most in-depth guidance on the loss discounting method change that […]
locations
Johnson Lambert is proud to serve clients in 43 states, coast to coast, and the District of Columbia. The geographic diversity of our client base continues to expand, and as a committed partner to our clients and the industries we […]
13 May 2023
Lily Morris Honored as AAM’s Rookie of the Year
Johnson Lambert is proud to announce that Internal Communications Specialist Lily Morris was named Rookie of the Year at the Association of Accounting Marketing’s (AAM) Annual Summit. Every year, AAM announces individual awards in recognition of the outstanding achievements in […]
10 Dec 2019
LIBOR Phase-Out Expected After 2021 - Trillions of Dollars Exposed
LIBOR, the long-standing interest rate benchmark used in many commercial contracts is expected to be discontinued after year-end 2021. LIBOR is based on the cost of short-term unsecured loans between leading international banks. Its discontinuance is due to the unreliability […]
30 Mar 2020
In response to the imminent sunsetting of the London Interbank Offered Rate (LIBOR), the Financial Accounting Standards Board (FASB) issued guidance to assist organizations with ensuing accounting ramifications. A significant number of contracts and agreements will be rewritten or amended […]