Adjusts financial statement review and audit thresholds for Massachusetts public charities.
This bill modifies the financial statement review and audit thresholds for Massachusetts public charities. It raises the threshold for a financial statement review from $200,000 to $500,000 and the threshold for a financial statement audit from $500,000 to $750,000. Additionally, it mandates that if the federal government alters its revenue thresholds for financial statement reviews or audits post-enactment, Massachusetts will adjust its thresholds accordingly.
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- Overview
- Core Provisions
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- Critical Issues
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