After years of very few changes, the AICPA issued a suite of new auditing standards; the most significant one is Statement on Auditing Standards (SAS) No. 134, Auditor Reporting and Amendments, Including Amendments Addressing Disclosures in the Audit of Financial

In 2019, non-public entities were required to account for equity securities using a new reporting model. The model also established an alternate reporting model for equity securities without a readily determinable fair value. An entity electing the alternative model would

The SECURE (Setting Every Community Up for Retirement Enhancement) Act became law on December 20, 2019 as a part of the Further Consolidated Appropriations Act. The Act made several reforms to retirement planning, including Individual Retirement Accounts (IRAs), 401(k) plans,

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,

Like many businesses, nonprofits could be negatively impacted by COVID-19 through lost revenue, productivity, and additional expenses. As a result of COVID-19, many organizations have canceled meetings due to potential health risks, travel restrictions and reputational risks. The financial impact

On February 10, 2020 the Financial Accounting Standards Board (FASB) issued a Proposed Accounting Standard Update (PASU), Not-for-Profit Entities (Topic 958): Presentation and Disclosures by Not-for-Profit Entities for Contributed Nonfinancial Assets. Objective: Provide information about the valuation and presentation of