At my other blog, I have a post discussing the option to explain the reasons for an accountant’s lack of independence in a compilation. Also have a poll to survey readers whether they plan to use this option. I don’t plan to cross-post those two discussions, so please click on the link to see the post.
What questions do you have on reviews and compilations?
Greetings to the all the accountants arriving here after doing a search on reviews and compilations! Hope the posts here are of help to you.
What other questions do you have on SSARS 19? Let me know in the comments and I’ll try to help!
Happy New Year and best wishes as you implement the new stuff in SSARS 19!
Peering forward – what is going on around us?
Another great article in the Winter 2010 Outcomes from Christian Leadership Alliance is from La Piana Consulting. Their research in the wider social service sector has identified five major trends. Quoting them, the five are:
Outcome measures – Why does it matter to other NPOs that churches might be able to measure spiritual maturity?
How should churches handle year end giving?
How should you handle that check dated 2010 and put in the plate during 2011? What to do with 2010 checks that arrive by mail in 2011 with a 2010 postmark? Get the answer from MinistryCPA blog by Corey Pfaffe CPA. Great article. Very short and to the point.
SSARS 19 – Sample compilation report for omitting substantially all disclosures
(duplicate of post from Attestation Update blog)
Update – SSARS 19 had been replaced by SSARS 21. All the reports have been revised. You can check out these posts at my other blog, Attestation Update:
- Flash update on SSARS #21
- Newly approved SSARS will allow a new service, ‘preparation’. Will also require written & signed engagement letters.
- Sample compilation report under SSARS 21
- Sample accountant’s review report for SSARS 21
- Video overview of SSARS 21
- New risk alerts for 2014/2015 are available
Omission of substantially all disclosures under SSARS No. 19 — Compilation reports will change for organizations with fiscal years ending after December 15, 2010. I have prepared a modified report for departure from GAAP. Here is the report I will be using after the first of the year for my non-profit clients if any choose to omit all disclosures. Please feel free to copy, but make sure you modify this based on your firm’s policies.
SSARS 19 – Sample compilation report for omitting the statement of cash flow
(duplicate of post from Attestation Update blog)
Update – SSARS 19 had been replaced by SSARS 21. All the reports have been revised. You can check out these posts at my other blog, Attestation Update:
- Flash update on SSARS #21
- Newly approved SSARS will allow a new service, ‘preparation’. Will also require written & signed engagement letters.
- Sample compilation report under SSARS 21
- Sample accountant’s review report for SSARS 21
- Video overview of SSARS 21
- New risk alerts for 2014/2015 are available
Omission of cash flow statement under SSARS No. 19– Compilation reports will change for organizations with fiscal years ending after December 15, 2010. Here is the modified report I will be using after the first of the year for my non-profit clients if any would choose to omit the statement of cash flow. I doubt that will happen in my client base, but wanted to make this example available to the CPA community.
Peering Forward – Technology will change even faster
I’ve been talking about the Winter 2010 Outcomes from Christian Leadership Alliance. You would learn and stretch if you could take a few minutes and browse the issue.
Kevin Ring has a great article, Future-Proof Ministries that talks through some of the current and long-term tech issues.
Peering Forward – How do we respond to developing trends?
Earlier discussed that we need to pay attention to the trends in our culture and then looked at some of those trends identified by David Kinnaman.
How do we respond to those trends? Kinnaman raises four superb questions in his article. I will quote his questions and share my thoughts.
Outcome measures – Why does it matter to churches that it is possible to measure outcomes in a local church?
Helping people grow spiritually — Every church I’ve every worked with had a vision that included some variation of that idea. It is phrased differently with varying focus, but that seems to be typical.
What if you could identify things that help that growth? What if you could identify things that are completely irrelevant to helping people grow?
Posts on Tragedy of Fraud combined into a page
The series of posts on the Tragedy of Fraud have been combined into a separate page, found at the top of this blog. You can read them in chronological order on the page above.
Tragedy of Fraud – part 4 – possible civil litigation
The tragedy of fraud – part 3 – the sentencing
On December 20, 2010, the judge pronounced sentence in a case I’ve been following. Why go into detail? To continue the discussion of the massive devastation of fraud.
Outcome measures – Can you measure spiritual maturity in a local church?
Yes. It is possible to quantify spiritual maturity in a local church. Every non-profit along with all churches can learn from that answer.
Peering Forward – Some of the trends
What are a few of the changes today that impact the faith-based nonprofit community? Barna Group has a few ideas.