Answer

The audit and review reports of monprofits that are required to report to the Louisiana Legislative Auditor are required to be performed under generally accepted government auditing standards, promulgated by the Government Accountability Office in Government Auditing Standards (popularly called the Yellow Book)(LRS 24:513(A)(5)(a)(i)). Nonprofits that are not required report to our office may report under generally accepted auditing standards, but should check the FASB statements to make sure. As for nonprofits that receive only federal funds, or governmental funds in another state, the agency should check with the federal grantor agency and/or the specific state that they are in to determine under what standards their audits should be performed. Louisiana Legislative Auditor website: 04/04/2026 04:46:20 AM