Nonprofits


A new, greatly enhanced AICPA audit and accounting guide, Not-for-Profit Entities, is available in ebook and paperback form.

The AICPA Auditing Standards Board (ASB), Financial Reporting Executive Committee (FinREC) and Not-For-Profit Guide Task Force have revised the guide, making significant enhancements to improve user understanding and minimize diversity in practice.

Enhancements include:

  • An expanded section about reporting relationships with other entities.
  • New sections about reporting and measuring noncash gifts.
  • A new chapter on program-related investments and microfinance loans.
  • An expanded section about municipal bond debt, and the effects of terms (such as subjective acceleration clauses) on the classification of debt.
  • New guidance for reporting the expiration of donor-imposed restrictions.
  • Expanded discussion about the legal and regulatory environment in which not-for-profit entities operate.
  • Auditing content that has been conformed to the changes resulting from the ASB clarity project.
  • Suggestions for audit procedures an auditor might consider as a supplement to the risk assessment procedures.


For more information, visit tinyurl.com/23f88yy.

SPONSORED REPORT

2018 financial reporting survey: Challenges and trends

Learn the top reporting challenges that emerged in a survey of more than 800 finance, accounting, and compliance professionals across the world, and compare them with your organization's obstacles.

PODCAST

How the skill set for today’s CFO is changing

Scott Simmons, a search expert for large-company CFOs, gives advice for the next generation of finance leaders and more, including which universities are regularly producing future CEOs and CFOs.