After attending CalCPA’s Not-for-Profit Organization conference last week and talking to a number of my CPA colleagues, I have two thoughts. (Yeah, yeah, I obviously don’t think much if I only have two thoughts after a full day of great presentations.)
Let me offer two questions which provide a way to focus my thoughts:
- What is the primary concern of the regulators?
- What is the specific, focused target of California AB 1181?
I have long wanted to develop an extensive discussion on multiple accounting issues found in the California AG’s three cease and desist orders. I would also like to discuss the host of accounting and auditing issues that are explicit or implied in the January 2019 settlement and the May 2019 litigation. It would be fun for me and informative for readers of this blog to dive deep into the wide range of issues raised by the AG.
That discussion would have probably run something in the range of 6,000 or 10,000 words, or perhaps longer.
I have not had the time to go into that extensive detail and don’t anticipate having that much spare time in the near future.
Instead, I will describe in the next post what I perceive is the very precise, very specific target of AB 1181 from the California Assembly and in this post will describe my perception of the key concern for the regulators.