International Accounting Update

Time
Thursday | 1:45 PM

Primary Audience
CEOs, CFO, and Finance Directors

Description
This session will review several international accounting topics to provide participants with:

• A review of deputized fundraising best practices following the IRS audit of Schwab Charitable during 2020 and the spotlight cast on deputized fundraising during that audit
• An update on best practices regarding internal controls over the transfers of cash to international fields, including in-person transfers and FinCEN Form 105 reporting
• A discussion of best practices and the pros and cons of using personal accounts for the transmission of mission funds
• An overview of Office of Foreign Asset Control (OFAC) reporting and best practices regarding frequency of inquiry and persons submitted for review.
• Insight on employing non-U.S. citizens and foreign nationals

Learning Objectives

• Apply best practices to ensure the deductibility of gifts raised using the deputized fundraising model
• Assess your current practices regarding the transfer of cash to international fields and apply best practices to improve them as needed
• Formulate an OFAC Policy

Taxes 1.5 CPE hours

Presented by

Handouts

Session Recording