During my tenure at IMA, Iâve spoken on accounting regulatory issues, providing testimony to U.S. Congress on internal controls and risk management as it relates to Sarbanes-Oxley implementation, appearing before the SEC and PCAOB on critical regulatory matters impacting U.S. global competitiveness, and I served as a member of the COSO (Committee of Sponsoring Organizations) board of directors, which delivers global guidance on internal controls and enterprise risk management.
1.) Credit unions spend more on marketing than you think. Credit unions were once seen as a quaint, sleepy little corner of the financial industry. Not anymore. The top 10 credit unions invest $155 million annually on marketing, and the top 100 credit unions spend a combined $400 million on advertising and related educational expenses.
The IRS, however, uses employees as a proxy. So if you have 20 employees you might spend the equivalent of $3,000 per employee ($60,000 in total). It depends on what the local business sells. Car dealers might spend $600 per auto on advertising, while a pizza shop owner might spend a penny per pizza. So it's pretty complicated, unfortunately.