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Advisory Committee Recommends Changes to the Form 990
Posted by Brenda Booth on Wed, Jul 22, 2015 @ 02:01 PM
The IRS Advisory Committee on Tax Exempt and Governmental Agencies (ACT) recently made recommendations for how the IRS can modify the Form 990 to improve its utility. In its 2015 Report of Recommendations to the IRS, the ACT asked for mandatory electronic filing of the Form 990 series and that the IRS collect additional information from entities filing the Form 990-N, among other updates to the annual informational filing series for not-for-profit organizations.
 
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Topics: Brenda Booth, Form 990

Scrutinize This: Top Audit Risk Points for Not-for-Profits
Posted by Amanda Jenks on Tue, Jul 21, 2015 @ 02:11 PM
Users of not-for-profit financial statements want transparency, and emerging reporting requirements aim to provide it. Recent updates from the federal government and from Financial Accounting Standards Board (FASB) require more visibility into how not-for-profit organizations manage their resources. Not-for-profits need to monitor these updates and what they mean not only for their current year-ends, but for future reporting practices. Several requirements effective now and with impending effective dates will likely be key points for the auditor of your financial statements.
 
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Topics: audit, Not-for-Profits, audit risk

How to Triage a Website Breach
Posted by John Robichaud on Thu, Jul 9, 2015 @ 09:16 AM

Your organization’s website can be a dangerous tool if it falls into the wrong hands. Unauthorized users may use the reputation of your not-for-profit organization to promote their spam websites, or they may distribute malware through your website to access sensitive information about your organization, its shareholders and its website users.

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Topics: John Robichaud, cybersecurity, triage a website breach

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