NEW YORK – (June 25, 2013) - NYSSCPA President J. Michael Kirkland has issued the following statement:
The passage of the Nonprofit Revitalization Act brings a 21st century refresh to the rules and regulations that govern not-for-profit organizations in New York State.
This legislation allows this vital sector to operate more efficiently, improve operational transparency and increase accountability to the public. Most notably, the revenue threshold limits that trigger required audits have been raised to be more in line with the current size and scope of organizations that require such oversight and provide relief to smaller organizations.
This proposal is a welcomed step for all of the state’s nonprofits, many of which for years have experienced the frustration of navigating a system governed by archaic rules and regulations that drain resources from mission-critical programs, especially those providing critical social services to New Yorkers hardest hit by the recent recession.
The NYSSCPA looks forward to working with legislators and state officials in the future to further improve not-for-profit organization laws.
ABOUT THE NYSSCPA
Incorporated in 1897 and now representing more than 29,000 CPAs, the NYSSCPA is a not-for-profit organization that represents the issues, standards and public services efforts of certified public accountants who practice in New York State; encompassing all areas of public practice, government, education, business, and industry. Visit the Society’s website at nysscpa.org for more information.