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Ensuring that the appropriate individuals are reviewing key contracts is essential to identifying, quantifying, and, if necessary, reporting financial liabilities in a timely manner. Depending on the nature of the contract, key individuals may include your in-house or external legal counsel, tax advisor, the Chief Financial Officer or Controller, and the Chief Executive Officer. For example, an Organization’s meetings department may unknowingly enter into a contract that triggers unrelated business income by offering promotional advertising space as a component of the agreement.