
CheckPoint
Nonprofit Update
Over the last four months

Conservation Easement—Perpetuity Requirements
The AICPA has updated its Audit and Accounting Guide, Not-for-Profit Entities, with conforming changes as of March 1, 2021 (Audit Guide).

FASB Removes Projects from Technical Agenda
The FASB recently announced it was removing certain projects from its agenda.

Supreme Court Gives the First Amendment Some Breathing Space
In a 6-3 decision released on July 1, 2021, the Supreme Court ruled that California cannot demand a copy of Form 990 Schedule B.

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.
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