News & Updates \ View All
By Kathy Cantor, CPA Americans are living longer in retirement and they will need an income stream during that time. More retirees now rely on defined contributions plans, so the issue of how to guarantee an income stream from these plans needed to be addressed.
Featured Articles \ View All
One of the most innovative provisions of the Uniform Administrative Requirements, Cost Principles and Audit Requirements for Federal Awards (the Uniform Guidance) includes the requirement for Federal Agencies to perform risk evaluations of potential grantees. The specific requirements are included in §200.205 Federal Awarding Agency Review of Risk Posed by Applicants. This document will: (1) provide an overview of the new risk based framework, (2) identify and define the evaluation framework, (3) identify critical requirements for funding opportunity announcements, and (4) identify risk based award provisions available to Federal Agencies.
The Board meeting of the Financial Accounting Standards Board (FASB) on November 22, 2011 could lead to less stringent fair value measurement requirements for nonprofits and nonpublic companies in early 2012. Currently, private companies are required to disclose the basis for valuing Level 3 measurements on the fair value hierarchy, which encompass “significant unobservable inputs” as defined by FASB. The discussion deliberated by Board members was whether or not to continue to require the disclosure of these measurements, as they impose significant costs on private entities.
= Requires Registration