Some of your not-for-profit’s communications are of interest only to a select group of your supporters. But your organization’s annual report is for all stakeholders — donors, grantmakers, clients, volunteers, watchdog groups and the government.

a person's hands holds paper with circle and arrow diagrams and a pie chart, showcasing an annual report with data to engage support for a not-for-profit organization

Some report elements are nonnegotiable, such as financial statements, but you also have plenty of creative license to make your report engaging and memorable for its wide-ranging audience.


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Jen: This is the PKF Texas Entrepreneur’s Playbook. I’m Jen Lemanski, and I’m back again with Kristin Ryan, an audit senior manager and one of the faces of PKF Texas’ Employee Benefit Plan team. Kristin, welcome back to the playbook.

Kristin: Good to be here.

Jen: So, we’ve talked about fiduciary responsibilities, but

According to a July 1, 2019 Notice from the Office of Federal Financial Management, the 2019 Office of Management and Budget Compliance Supplement (2019 Compliance Supplement) is now available. It will replace the 2018 and 2017 Supplements and will apply to audits of fiscal years beginning after June 30, 2018.

a pencil lying beside an open notebook with the printed words "2019 Compliance Supplement"

The 2019 Compliance Supplement includes the following:


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The IRS’s staffing shortages have been well publicized and audits of individuals have decreased in the past several years. But it’s a mistake to assume that the agency has stopped scrutinizing not-for-profits and conducting audits when it deems necessary. If your organization receives an IRS audit letter, you need to know what the process involves and how you can help resolve it as quickly as possible.

Image of a man in a blue shirt writing audit letters on pieces of paper with a pen


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Jen: This is the PKF Texas Entrepreneur’s Playbook. I’m Jen Lemanski, and I’m back again with Miriam Rouziek, an Audit Manager and one of the faces of the PKF Texas SEC team. Miriam, welcome back to The Playbook.

Miriam: Thanks for having me, Jen.

Jen: So, we’ve been talking a little bit about PCAOB, which is the Public Company Accounting Oversight Board, and we’ve been talking about some changes that they’ve had. But what inspection trends are you seeing?


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The IRS just released its audit statistics for the 2018 fiscal year, and fewer taxpayers had their returns examined as compared with prior years.

However, even though a small percentage of tax returns are being chosen for audit these days, that will be little consolation if yours is one of them.


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Breaking news this week – on Monday, May 13, 2019, the American Institute of Certified Public Accountants Private Companies Practice Section’s Technical Issues Committee (TIC) has sent a letter requesting the Financial Accounting Standards Board to delay the implementation of a new lease accounting standard for private companies.

The standard was made effective for public companies at the beginning of 2019, with an effective date for private companies slated for the start of 2020. TIC’s letter asks for a delay of one year for private company implementation.

According to a May 13, 2019 Journal of Accountancy article:


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Jen: This is the PKF Texas Entrepreneur’s Playbook. I’m Jen Lemanski, and I’m back once again with Miriam Rouziek, one of our Audit Managers and one of the faces of PKF Texas’s SEC team. Miriam, welcome back to The Playbook.

Miriam: Thanks for having me, Jen.

Jen: In previous episodes we’ve talked a little bit about the PCAOB, which stands for Public Company Accounting Oversight Board, which I know was founded after the whole Enron thing. What changes do they have coming for 2019 – 2020?


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