skip to Main Content

Non-Profit – July

This year's AICPA Audit Risk Alert (Alert), Not-for-Profit Entities Industry Developments—2019, has been released, and much of the information is helpful to auditors and nonprofit organization managers alike. This article summarizes the key features of the 2019 edition. Read More

Read More

Non-Profit – June

This year's AICPA Audit Risk Alert (Alert), Not-for-Profit Entities Industry Developments—2019, has been released, and much of the information is helpful to auditors and nonprofit organization managers alike. This article summarizes key features of the 2019 edition. Read More

Read More

Governmental – June

Many firms are beginning to plan their June 30 audits and need to be aware of things that have changed from last year, such as the issuance of a new auditing standard and recently issued GASB Standards. Read More

Read More

Accounting and Auditing – June

The FASB was especially busy in March 2019, issuing three new Asus in rapid succession: z ASU 2019-01, Leases (Topic 842): Codification Improvements. z ASU 2019-02, Entertainment—Films— Other Assets—Film Costs (Subtopic 926-20) and Entertainment—Broadcasters — Intangibles—Goodwill and Other (Subtopic 920-350):…

Read More

Non-Profit – May

I n March 2019, the FASB issued ASU 2019-03, Not-for-Profit Entities (Topic 958): Updating the Definition of Collections. The ASU eliminates diversity in practice by aligning the definition of collections in GAAP with the definition used by the American Alliance…

Read More

Governmental – May

Risk assessment continues to garner much attention and focus in the audit community. In response to recent peer review deficiencies in this area, the AICPA Peer Review Board (PRB) has announced that risk assessment will be a prime area of…

Read More

Accounting and Auditing – May

Risk assessment continues to garner much attention and focus in the audit community. In response to recent peer review deficiencies in this area, the AICPA Peer Review Board (PRB) has announced that risk assessment will be a prime area of…

Read More

Non-Profit – April

While board review of Form 990 (Return of Organization Exempt from Income Tax) is not statutorily required, it is, however, a prudent practice. An organization’s review procedures are reported on the Form 990, which is publicly disclosed. In addition to…

Read More

Governmental – April

The AICPA recently issued its audit risk alert Government Auditing Standards and Single Audit Developments—2018/19. AICPA audit risk alerts provide important considerations for planning and performing audits each year. This risk alert is prepared for auditors who perform Yellow Book…

Read More

Accounting and Auditing – April

Depending on the complexity of an entity’s revenue transactions, revenue may be more difficult to audit after implementation of FASB ASC 606, Revenue from Contracts with Customers. Recognition of revenue may be simple (e.g., in a point-of-sale retail environment) or…

Read More
Back To Top