Nonprofit Blog

The American Institute of Certified Public Accountants (AICPA) has issued Statement on Standards for Accounting and Review Services (SSARS) No. 21. This guidance will help financial statement users clarify whether they need their accountant to perform a compilation, prepare their financial statements or assist them in preparing their financial statements. This distinction is critical in a cloud-computing environment where internal management and external advisors often collaborate contemporaneously on financial recordkeeping.