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More About This Title Audit Risk Alert: Not-for-Profit Entities Industry Developments-2017
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From going concern to leases, this Alert will help identify important developments affecting not-for-profit entities and the issues auditors face as a result. A discussion of emerging practice issues, plus current economic, accounting, and auditing development is provided. Also included is a discussion of opportunities for early implementation of ASU 2016-14. Additional updates include:
FASB ASU No. 2016-14, Not-for-Profit Entities (Topic 958): Presentation of Financial Statements of Not-for-Profit Entities
SAS No. 132, The Auditor's Consideration of an Entity's Ability to Continue as a Going Concern
FASB ASU No. 2017-02, Not-for-Profit Entities--Consolidation (Subtopic 958-810): Clarifying When a Not-for-Profit Entity That Is a General Partner or a Limited Partner Should Consolidate a For-Profit Limited Partnership or Similar Entity
FASB ASU 2016-02, Leases (Topic 842)
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The AICPA's founding established accountancy as a profession distinguished by rigorous educational requirements, high professional standards, a strict code of professional ethics, a licensing status and a commitment to serving the public interest.
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Not-for-Profit Entities Industry Developments—2017 .01-.305
How This Alert Helps You .01-.03
Economic and Industry Developments .04-.29
The Current Economy .04-.10
The State of NFPs .11-.29
Legislative and Regulatory Developments .30-.60
Data-Driven Decision Making by the IRS .30-.32
Unrelated Business Taxable Income Issues .33-.40
Filing Deadline Changes for Forms W-2 and 1099-MISC .41
Department of the Treasury and the IRS Issue Priority Guidance Plan for 2016–2017 .42-.46
Matters Affecting Higher Education .47-.55
Matters Affecting Religious Organizations .56-.60
Audit and Attestation Issues and Developments .61-.94
Audit Risks for NFPs .61-.62
New Auditing Standard on Going Concern .63-.69
Related Parties .70-.75
Alternative Investment Considerations .76-.81
Audit Reporting on Forms Prescribed by Regulators .82-.86
Attestation Clarity Project Is Completed .87-.94
Accounting Issues and Developments .95-.259
FASB NFP Financial Statement Presentation Standard .95-.138
Leases 139-.155
Assessing Changes to Consolidation Requirements for NFPs .156-.162
New Guidance on Accounting for Credit Losses .163-.167
Presentation of Restricted Cash .168-.171
Revenue From Contracts With Customers .172-.192
Accounting Standards Updates Effective in 2016 .193-.241
Fair Value Measurement of Beneficial Interests in Assets Held by Community Foundations 242-.246
Disclosure About Tax Matters .247-.257
Other Investments—a Reminder .258-.259
Recent Pronouncements .260-.263
Recent Auditing and Attestation Pronouncements and Related Guidance .261
Recent ASUs .262
Recently Issued Technical Questions and Answers .263
Recent AICPA Independence and Ethics Developments .264-.265
Common Audit Report and Financial Statement Errors 264
Conceptual Framework Implementation Tools and Resources .265
AICPA NFP Initiatives .266-.275
NFP Member Section .267-.271
NFP Certificate Programs .272-.275
On the Horizon .276-.285
Auditing Pipeline 278-.281
Accounting Pipeline .282-.285
Resource Central .286-.304
Publications .287
Continuing Professional Education .288-.289
Webcasts 290-.291
Member Service Center .292
Hotlines .293-.294
AICPA Online Professional Library: Accounting and Auditing Literature .295
Industry Conference .296-.297
AICPA Government Audit Quality Center .298-.300
AICPA Industry Expert Panel—Not-for-Profit Entities .301
AICPA.org Not-for-Profit Interest Area .302
Industry Websites 303-.304
Appendix—Additional Internet Resources .305
