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Not-for-Profit Entities Industry Developments - Audit Risk Alert

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This Alert helps you identify important current developments affecting not-for-profit entities and the issues auditors may face as a result of these developments. You’ll find targeted discussion of emerging practice issues, plus current economic, accounting and auditing developments.

Key Benefits:

Among other topics, this Alert focuses on risks related to recent NFP trends, going concern, revenue recognition, and fair value issues. Also included is a discussion of recent and planned IRS activity with regard to NFPs.

This alert also includes information on emerging issues such as:

  • Measuring the effectiveness of nonprofits
  • Alternative investment considerations
  • Going concern
  • IRS exempt organizations activities
  • FASB not-for-profit standard-setting activity
  • UPMIFA policies


  • FASB ASU No. 2014-09, Revenue from Contracts with Customers (Topic 606)
  • FASB ASU No. 2014-15, Presentation of Financial Statements-Going Concern (Subtopic 205-40): Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern
  • FASB ASU No. 2014-08, Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity
  • FASB ASU No. 2015-03, Simplifying the Presentation of Debt Issuance Costs
  • FASB ASU No. 2015-07, Disclosures for Investments in Certain Entities That Calculate Net Asset Value per Share (or Its Equivalent)
  • FASB ASU No. 2016-01, Financial Instruments—Overall (Subtopic 825-10):  Recognition and Measurement of Financial Assets and Financial Liabilities

Who Will Benefit:

  • Audit and accounting firms with nonprofit engagements
  • Financial managers at nonprofit organizations

Bundle and Save

This product is available as part of discounted Online Subscription Bundle that includes the corresponding Not-for-Profit - Audit and Accounting Guide, content updates and unlimited online access for 1 year. Click here, and then select the "Online Subscription" option at the bottom of that page to purchase.


Get even more value with the Not-for-Profit Entities: Audit & Accounting Set. This convenient bundle gives you access to the full range of Not-for-Profit content offered by the AICPA, at a significant savings off the price if purchased separately. This online bundle includes how-to advice and authoritative guidance, valuable discussion, best practices, and much more. Follow the link above for more details.

Not-for-Profit Section Members Receive Additional Savings! 

When you log into this website with your AICPA member user account, the section/credential discount will be automatically applied during checkout. Should you have any questions or encounter any issues, please contact the AICPA Service Center at 888-777-7077 or

Find out more information on the NFP Section.

Paperback , 2016
Product# ARANFP16P
Availability: In Stock
AICPA Member:$39.00
Your Price:$49.00
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