As you plan for your next financial statement audit, there are changes in auditing standards that may impact your engagement. Statements on Auditing Standards (SAS) Nos. 122-125 (referred to as the Clarified Auditing Standards) introduce some changes that go into effect for financial statement audits for periods ending on or after December 15, 2012. For most companies, that means they’ll be effective for the year ending December 31, 2012 or later.

Non-profits face some unique financial reporting requirements. They have to report on both what the money was spent on (salaries, supplies, utilities, etc.) and what purpose the expenditure served (program, administration or fundraising). On April 17 we hosted a webinar for local non-profits to learn more about the external and internal non-profit financial reporting concepts….
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Annually I provide my clients with a snapshot of what their organization looks like, and how it compares to industry peer data (when available).  I have found this very beneficial when I have discussions with the Board of Directors because we are getting down to what really matters to the client.  Find out what your…
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Petersen CPAs and South Central Washington Resource Conservation & Development recently held an all day workshop for non-profit and governmental organizations that was a huge success. Petersen Member Abby Sanders spent the morning assisting the participants with adapting an accounting policy manual to fit their individual organizations. The goal, which many accomplished, was to leave…
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