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PRINTER'S NO. 1784
THE GENERAL ASSEMBLY OF PENNSYLVANIA
HOUSE BILL
No.
1420
Session of
2017
INTRODUCED BY GREINER, RYAN, D. COSTA, MENTZER, ZIMMERMAN,
JAMES, MILLARD, A. HARRIS, WARD, GROVE, MILNE, DeLUCA, PEIFER
AND MAHER, MAY 19, 2017
REFERRED TO COMMITTEE ON FINANCE, MAY 19, 2017
AN ACT
Amending the act of December 19, 1990 (P.L.1200, No.202),
entitled "An act providing for the registration and
regulation of solicitations by charitable organizations,
professional fundraisers and other solicitors; imposing
additional powers on the Department of State and the Office
of Attorney General; prescribing civil and criminal
penalties; and making a repeal," further providing for
registration of charitable organizations, financial reports,
fees and failure to file.
The General Assembly of the Commonwealth of Pennsylvania
hereby enacts as follows:
Section 1. Section 5(f) of the act of December 19, 1990
(P.L.1200, No.202), known as the Solicitation of Funds for
Charitable Purposes Act, is amended to read:
Section 5. Registration of charitable organizations; financial
reports; fees; failure to file.
* * *
(f) Audit of certain financial reports.--The financial
report of every charitable organization which receives annual
contributions of [$300,000] $750,000 or more shall be audited by
an independent certified public accountant or public accountant.
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Every charitable organization which receives annual
contributions of at least [$100,000] $250,000, but less than
[$300,000] $750,000, shall be required to have a review or audit
of their financial statements performed by an independent
certified public accountant or public accountant. Every
charitable organization which receives annual contributions of
at least [$50,000] $100,000, but less than [$100,000] $250,000,
shall be required to have a compilation, review or audit of
their financial statements performed by an independent certified
public accountant or public accountant. A compilation, audit or
review is optional for any charitable organization which
receives annual contributions of less than [$50,000] $100,000.
Audits shall be performed in accordance with generally accepted
auditing standards, including the Statements on Auditing
Standards of the American Institute of Certified Public
Accountants, whereas reviews shall be performed in accordance
with the Statements on Standards for Accounting and Review
Services of the American Institute of Certified Public
Accountants.
* * *
Section 2. This act shall take effect in 60 days.
20170HB1420PN1784 - 2 -
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