It’s as easy as 3 Steps

1. Form – available online at ECFA.org/renew

2. Fee – submit online with renewal form

3. Financial statements – minimum requirements based on total revenue

   All financial statements must include the following (regardless of size)

   1. a statement of financial position as of the end of the reporting period (also referred to as a balance sheet)

   2. a statement of activities for the reporting period (also referred to as a statement of revenues and expenses)

   3. expenses reported by their functional classification in the statement of activities, a statement of functional expenses, or the notes to the financial statements

   4. a statement of cash flows for the reporting period

   5. accompanying notes to the financial statements

   6. a statement that it was prepared by an independent CPA

   1. Over $3 Million in total revenue – an Audit is required – prepared in conformity with US GAAP/GAAS standards

   2. $2 Million – $3 Million in total revenue – at least a Review is required – prepared on the GAAP, accrual, or modified cash basis

   3. Under $2 Million in total revenue – at least a Compilation is required – prepared on the GAAP, accrual, or modified cash basis