Auditing standards require external auditors to consider potential fraud risks by watching out for conditions that provide the opportunity to commit fraud. Unfortunately, conditions during the COVID-19 pandemic may have […]
Category: Regulation
Coming Soon: New Accounting Rule On Government Assistance Disclosures
On November 17, the Financial Accounting Standards Board (FASB) issued a new accounting standard on disclosing certain types of government incentives that businesses receive to set up shop in a locality. […]
Going Concern Disclosures Today
With the COVID-19 pandemic well into its second year and the start of planning for the upcoming audit season, you may have questions about how to evaluate your company’s going […]
Nonprofit Restructuring Has Become Easier, But Not Without Challenges
A few years ago, IRS Revenue Procedure 2018-15 changed the rules regarding not-for-profit restructuring. If you’ve participated in a restructuring in the past, you’ll be relieved to know that in […]
Nonprofits Shouldn’t Venture Abroad Without A Map
Budgetary shortfalls may have your not-for-profit looking for new sources of support. If those sources are international, be careful. Activities such as soliciting donations, recruiting members and selling products in […]