If your government holds majority equity interest (MEI) in another organization, have a look at the Governmental Accounting Standards Board Statement (GASB) Statement No. 90, Majority Equity Interest. Issued in August 2018, the goal of GASB Statement 90 is to

We’ve discussed the reasons to love internal controls and the first three components of The Committee of Sponsoring Organizations of the Treadway Commission (COSO) framework that many organizations follow when developing and implementing internal controls that are right-sized to them. This blog

More than two years after it began its project, the AICPA Auditing Standards Board (ASB) issued Proposed Statement on Auditing Standards (SAS), Forming an Opinion and Reporting on Financial Statements of Employee Benefit Plans Subject to ERISA. In January 2015,

Although it intended to simplify and clarify investment disclosures and create more consistent application across entities, the FASB caused some unintended confusion when it issued the following Accounting Standards Updates (ASU): ASU 2015-07 Disclosures for Investments in Certain Entities That

To align its definition of “collections” with that used by the American Alliance of Museums, the FASB issued Accounting Standards Update (ASU) 2019-03, Not-for-Profit Entities (Topic 958): Updating the Definition of Collections. The ASU applies to all entities that maintain

Recently, the IRS has issued Notice 2019-9 which provides interim guidance clarifying the implementation of §4960 for tax exempt and governmental organizations that compensate employees in excess of $1 million. This tax is designed as an excise tax with the