Tax, Audit and Management Resources

Practical articles by Walker & Armstrong professionals to help business owners, CFOs, association executives and individual taxpayers.

Uniform Guidance: A Post-Implementation Recap  Auditees, auditors and regulators can move forward with a more modernized accounting of federal awards, increased efficiency and an improved audit process.

Not-for-Profit Board Governance Considerations  With sound governance especially critical in a time of scarce resources, these guidelines are offered to help not-for-profits establish and monitor effective boards.

Internal Control Considerations for Not-for-Profits  Among financial managers and not-for-profit staff, understanding basic concepts of internal control is nearly universal, but implementing an effective internal control structure can be challenging.

Storing Tax Records: How Long Is Long Enough?  The three-year rule applies to many business and personal tax records, but in some cases records must be retained for up to six years or longer.

Compliance Auditing and Preparation for Single Audit  You can substantially reduce the complexity and distraction of a single audit via effective preparation, adherence to internal controls, and implementation of certain key steps that promote audit quality.

UBIT: A Short Primer for Not-for-Profit Entities  Income from activities outside your tax-exempt purpose may be subject to “unrelated business income tax.”