From time to time the Financial Accounting Standards Board, which sets accounting standards for all entities in the United States, issues an Accounting Standards Update to modify or improve the quality of reporting. Whether you’re a not-for-profit director or board member preparing for your upcoming audit or review or simply a donor looking to better understand the entities you support, these are important updates for consideration.

On July 14, Governor Polis signed into law an Act that requires Colorado employers to provide employees with paid sick leave. The Act becomes effective January 1, 2021 for Colorado employers with 16 or more employees and effective January 1, 2022 for all employers.