SSARS 19 Review reports for NPOs

Review reports will change starting December 31, 2010.  Two sample reports follow.

Update – SSARS 19 had been replaced by SSARS 21. All the reports have been revised. See:

SSARS 19 Compilation reports for NPOs

Compilation reports will change starting December 31, 2010.  Some sample reports follow.

Update – SSARS 19 had been replaced by SSARS 21. All the reports have been revised. See:

Three implications of the seven-year document retention for CPAs

What are some of the implications of California CPA’s having to retain their workpapers for seven years after the report date (section 5097)?  Accessibility, lockdown, and offsite backup seem to be three issues that make it more difficult that just keeping the files on your server for a long time. …

We live in an age of overwhelming complexity. Will you choose to adapt?

We live in an age of overwhelming complexity.  Things will not get simpler, the change will only accelerate.

Do I really need to explain that the complexity of everything is overwhelming?  Consider merely the new 990, increasing regulation of every area of running a ministry or business, and the exponential growth of fantastic technology tools.

We need to decide whether we are going to adapt or not.  It is actually possible to opt out of the growing complexity.  Consider the cost though.  If our ministries do not adapt they may die.  More likely they will shrivel, then shrink into irrelevance.  At a personal level, we need to adapt or get left behind.

I choose to adapt.  I may be struggling and bumbling in my efforts, but I will move forward.  How about you?

Financial statements should not refer to FASB documents

Just a reminder that financial statements should not be referring to FASB documents or other accounting literature, such as FIN 48, FAS 157, FAS 13, FSP 117-1 or any of those other things we know by heart.  FASB Statement #168 established the Accounting Standards Codification to replace all the accounting literature then in effect. …

Major changes to Review and Compilation Reports from SSARS 19

Remember that SSARS 19 makes a lot of changes to the review and compilation procedures.  In terms of the reports, the entire report is changing – the wording is completely different.

Update – SSARS 19 had been replaced by SSARS 21. All the reports have been revised. See: