filed in financial statements on Aug.25, 2009
If you have a fiscal year end of June 30, 2009, there is a new disclosure requirement for your year end financial statements.
Statement of Financial Accounting Standards No. 165 requires that a disclosure be included in the footnotes to your financial statements that provides a date through which subsequent events have been evaluated.
Subsequent event disclosures [...]
filed in Legal on Aug.18, 2009
Sitting down I looked around at some of the other people in the room and wondered what they did. What organization did they work for? How much experience with non-profits did they have? Was I the only one who felt like they didn’t have a grasp on the legal issues for non-profits?
I recently attended a [...]
filed in Fraud on Aug.11, 2009
Nonprofit organizations have to continually be aware of being involved in any activities that could have the potential to jeopardize their tax exempt status. On top of that, nonprofits also have to be careful to not get involved in any prohibited tax shelter transactions (PTST), which could subject the organization and the manager of the [...]
filed in Fraud on Aug.04, 2009
Fraud - n. A deception deliberately practiced in order to secure unfair or unlawful gain.
While a financial statement audit is not designed to detect fraud, it is one aspect of the company that any auditor is going to consider. In fact, most engagement letters and the corresponding representation letter you will provide to your auditor [...]
Loading ...