Nonprofit organization reform.

• Author: Laffie, Lesli S.
• Position: AICPA ACTIVITIES

On March 1, 2005, the AICPA offered additional input to a Senate Finance Committee (SFC) staff discussion document released last summer, which included proposals for reforms and best practices for not-for-profit organizations (NPOs). The AICPA's Not-for-Profit Organizations Expert Panel and Exempt Organizations Taxation Technical Resource Panel worked with the SFC staff to help reach its objectives.

According to the AICPA's comments, there are primary concerns in the following areas:

* NPO financial activity and transaction information is not always transparent, readily available or fairly presented in conformity with GAAP. Accessible information is needed to help resource providers and other stakeholders make informed decisions.

* Governance issues, including...