Tag: audit committees

Understanding Internal Control Over Financial Reporting

Internal Control over Financial Reporting (ICFR) has been required for public companies and included as…

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Five Reasons Why Your Nonprofit Organization Should Consider Forming an Audit Committee

Adopting and maintaining an audit committee is a critical component for nonprofit organizations in being…

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Facilitating a Smooth Independent Audit

Few of us enjoy taking tests, and unfortunately that’s what independent audits sometimes feel like.…

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Building a Stronger Internal Audit Function
Building a Stronger Internal Audit Function

In recent years, nonprofits have been the target of increased scrutiny over governance, accountability and…

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What to Do If Your Nonprofit Receives an Audit Letter from the IRS
What to Do If Your Nonprofit Receives an Audit Letter from the IRS

The IRS has increased its scrutiny of nonprofits, auditing 8,000+ nonprofits (out of 1.6 million…

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Reminder SEC SAB 74 Disclosures and Controls for New Accounting Standards
Reminder: SEC SAB 74 Disclosures and Controls for New Accounting Standards

SEC Reminds Issuers: To make disclosure of status of implementation of new accounting standards –…

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Why Good Governance Depends on an Effective Audit Committee
Why Good Governance Depends on an Effective Audit Committee

Unlike public companies, nonprofit boards aren’t required to have audit committees. However, good governance practices…

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Advancing the Role and Effectiveness of Audit Committees
Advancing the Role and Effectiveness of Audit Committees

The following highlights recent guidance and related tools and resources for consideration by audit committees…

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Audit Committees: Increase Your Focus on Internal Controls
Audit Committees: Increase Your Focus on Internal Controls

During the December 2016 AICPA Conference on Current SEC and PCAOB Developments, multiple regulators emphasized…

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