New
York (May 11, 2015) – The
American
Institute of CPAs (AICPA) today launched a new membership section for
practitioners and others who serve or work for the nation’s growing
not-for-profit sector. The AICPA’s
Not-for-Profit
Section (NFP Section) will provide support and resources in the areas
of audit, financial accounting and tax for members and other finance
professionals.
Responding to member calls for added not-for-profit
resources, the NFP Section will strengthen the AICPA’s commitment to serving the
public interest. In addition to providing tools and training throughout the NFP
sector, those who have management or governance responsibilities with respect to
a not-for-profit entity, including those who serve as board members or as
volunteers, are eligible to join the AICPA as a non-CPA Associate. AICPA
members, including Associate and non-CPA Associates, are eligible to join the
NFP Section.
“The Not-for-Profit Section provides high-quality, timely
information, tools and resources that are designed to improve the governance,
financial reporting and tax reporting of not-for-profits,” said
Clar
Rosso, AICPA vice president for member learning and competency.
“Additionally, the Section is a valuable educational hub for those who are new
to not-for-profits and want to learn more about the business of running one.”
A recent ORC International CARAVAN
® survey commissioned by
the AICPA underscored the importance of staff and consultant competencies to
support non-profit organizations. It found that more than half of those polled
(57 percent) would be more likely to contribute to a not-for-profit organization
whose employees receive regular updates about financial management issues and
trends. The survey results provide incentive for accountants and others who work
in or with the nation’s not-for-profit sector to both join the Section and
enroll in the
Not-for-Profit Certificate Program that was
unveiled by the Institute last month.
NFP Section members will benefit
from comprehensive financial management and governance resources as well as an
extensive learning library. The practical tools to help simplify and streamline
tasks include work paper templates, checklists, illustrative examples, and
sample letters, reports and policies in areas such as tax compliance,
governance, financial reporting, auditing and accounting. Section members will
also stay up to date through webcasts covering hot topics and timely e-alerts
that provide breaking news and insights on the issues not-for-profit
organizations can expect to encounter. Due to the unique issues faced by
healthcare entities, they will not be included in the scope of the NFP Section.