A decade ago most in business thought the Sarbanes-Oxley Act of 2002 (SOX) would barely impact not-for-profit organizations beyond whistleblower and record-retention policies. Audit committees at the time were typically formalities that existed primarily to interact with the outside auditor, not to help guide the business on a strategic level.
Topics: COSO, non-for-profit, audit, Audit Committee
Topics: compliance, Department of Education, Federal Student Aid administration, satisfactory academic progress, FSA Assessment
The IRS’ Exempt Organization Division (EO) released its work plan for FY 2012, a comprehensive plan that touches upon areas from Form 990 compliance to employment-tax research. According to the IRS, these efforts are in addition to the division’s permanent determinations and examinations responsibilities.
Topics: tax-exempt, IRS, Form 990, Exempt Organization Division