FASB Comment Letter Regarding Fair Value Measurement of Perpetual Trusts
AICPA comments on the Not-for-profit entities (NFP) requirement to measure beneficial interests in perpetual trusts at fair value
Published on May 08, 2013
Audits of Federal Funds (Single Audits)
Entities that receive federal funds including states, local governments, and not-for-profit organizations (NPOs), are subject to audit requirements commonly referred to as “single audits” under the Single Audit Act of 1984, as amended in 1996. The Single Audit Act was...
Published on March 28, 2013
March 2005 Governance Whitepaper
AICPA supports the Senate Finance Committee's objective of ensuring that not-for-profit organizations maintain the full confidence of the public by being accountable and fulfilling their fiduciary responsibilities. This whitepaper was attached to a cover letter submitted in March 2005
Published on November 06, 2012
AICPA Provides Feedback to GASB on Nonexchange Financial Guarantee Transactions
The CPA Advocate: December, 2012. AICPA asks for clarification of "financial guarantee" and questions theBoard's conclusions regarding the exclusion of exchange transactions from the scope of the standard.
Published on December 19, 2012
AICPA Advocacy Continuing on Proposed Revisions to Single Audit Rules
The CPA Advocate: March 27, 2013. The AICPA invites members to submit comments by April 26, 2013 to be considered as part of AICPA’s comment letter to OMB.
Published on March 27, 2013
AICPA Raises Concerns about Ideas for Potential Revisions to Single Audits
The CPA Advocate: June, 2012. The GAQC comment letter to OMB supports overall goals of potential revisions to single aud requirements but raised concerns about ideas for potential revisions.
Published on June 12, 2012
AICPA Summarizes IRS Strengths and Weakness for the Oversight Board
In a testimony before the IRS Oversight Board, the AICPA provided comments on: (1) the future direction of electronic tax administration, (2) enforcement challenges, (3) effective collection strategies, and (4) workforce empowerment.
Published on September 10, 2012
AICPA Asks IRS to Modify Form 990 Instructions
On March 31, 2006, the AICPA asked the IRS to clarify instructions for line 75c of Form 990, Return of Organization Exempt from Income Tax, believing the language to be too broad, risking unintended consequences. This document poses a number of questions regarding how the instructions apply to various common
Published on July 01, 2013
AICPA Urges IRS to Clarify Form 990 Instructions
The American Institute of Certified Public Accountants has urged the IRS to clarify its instructions on three lines of Form 990, which is the form filed by organizations that are exempt from federal income tax. The AICPA's June 15, 2006 comments request further clarification of several parts of Form 990: lines
Published on July 01, 2013
AICPA Comments on Notice 2005-74 on the Effect of Exchanges on Gain Recognition Agreements
The AICPA recommends that a successor transferor in an asset reorganization be permitted to assume the obligations associated with an original gain recognition agreement (GRA) for the remaining term of that GRA without triggering gain recognition.
Published on April 30, 2010