Footnotes appear at the end of a company’s audited financial statements. These disclosures provide insight into account balances, accounting practices and potential risk factors — knowledge that’s vital to making […]
Category: Audit
Eyes On Related Parties
Business transactions with related parties — such as friends, relatives, parent companies, subsidiaries and affiliated entities — may sometimes happen at above- or below-market rates. This can be misleading to […]
Changes Are Coming To Your Auditor’s Report
The American Institute of Certified Public Accountants (AICPA) Auditing Standards Board’s latest standards are kicking in, and many nonprofits will notice resulting changes to the format and content of auditor […]
Nonprofit Observer Spring Newsletter
Here’s a brief glance at what you’ll find in the Spring issue… 4 tips for rebuilding your operating reserves The COVID-19 pandemic has driven home many lessons for nonprofits, perhaps […]
New audit committee survey reveals trends on risks, ESG reporting and more
In late January, a survey entitled “Audit Committee Practices Report: Common Threads Across Audit Committees” was published by Deloitte and the Center for Audit Quality, an affiliate of the American […]