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Form 990 brings big changes: a CFO and an attorney discuss the impact of the new IRS form.

Publication: Behavioral Healthcare
Publication Date: 01-MAR-09 		Format: Online
Delivery: Immediate Online Access
Full Article Title: Form 990 brings big changes: a CFO and an attorney discuss the impact of the new IRS form.(FINANCIAL MANAGEMENT)(Chief financial officers)

Article Excerpt
Historically, the completion of Form 990 merely signaled to me the end of another annual audit process. Once the 990 was reviewed, signed, and submitted to the IRS, the annual audit "ritual" was put to bed for another year. Compiling the information was largely a joint effort by the business office and our external auditors, with a little input from human resources.

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The majority of the information the 990 required was available from the financial audit. Human resources provided salary and benefit information on the five highest-paid employees, as required on Schedule A. Our external auditors compiled and inputted the required information. I simply reviewed it, ticked and tied the numbers...



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