WI stat § 202.11 was amended by 2015 Assembly Bill 778, which was enacted on February 29, 2016, and became effective on June 1, 2016. This amendment changed the threshold for a review from $200,000 to $300,000 and for an audit from $400,000 to $500,000. The filing date also changed from nine months after the end of the organization’s fiscal year end to be 12 months after the end of the fiscal year. The Wisconsin Department of Financial Institutions is allowing organizations to use the new, less restrictive rules on financial reports that are still outstanding even if the year-end falls prior to June 1, 2016.
There have been no changes for Minnesota.
As a Partner in the Firm’s Green Bay office, Briana provides audit, review, and tax services to nonprofit organizations. In addition, she works on audits of employee benefit plans and commercial entities. She is also the Director of Training for the Firm.
