What are the new PA audit requirement thresholds?
The new thresholds are:
|
Gross Contributions |
Type of Financial Statements Required |
|
Below $100,000 |
Optional |
|
$100,000 to $249,999 |
Compiled, Reviewed, or Audited |
|
$250,000 to $749,999 |
Reviewed or audited |
|
$750,000 or more |
Audited |
The new thresholds will be effective for nonprofits with fiscal year ends of 3/31/17 and later.