Nonprofit Update
Over the last four months
Supreme Court Gives the First Amendment Some Breathing Space
In May 2021, the Governmental
Accounting Standards Board (GASB) issued Implementation Guide 2021-1,
Implementation Guidance Update—2021 (Guide).
AICPA Updates the Not-For-Profit Entities A&A Guide
The AICPA has updated its Audit and Accounting Guide, Not-for-Profit Entities, with conforming changes as of March 1, 2021 (Audit Guide).
Factors Indicating a Profit Motive
An unrelated business activity that is conducted with the intent to make a profit does not cease to be a business activity merely because it is not profitable for a particular year .
COVID-19 Implications for Audit Planning
The COVID-19 pandemic created significant and unique challenges for nonprofit organizations, their boards and audit committees, and auditors.
2021 PAST ISSUES
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