Latest News
Names in the News!
Al Cheatham, National Director of NSAC’s South Atlantic Chapter, has recently been promoted...
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PCAOB’s Franzel Sees ‘Perfect Storm’ of Internal Control Problems in Audits
Jeanette Franzel described a “perfect storm” of issues that auditors are facing...
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Supreme Court Rules Severance Pay Can Be Taxed
The U.S. Supreme Court decided in favor of the Obama administration in a dispute over taxes on severance compensation
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FASB and IASB Work on Resolving Lease Accounting Differences
FASB and IASB remain at odds over crucial elements of their lease accounting standards, but said they are still committed to reducing the distinctions.
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Internal Auditors Concerned about Financial Losses from Social Media
Financial losses from social media are among the top concerns of internal auditors...
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5 Devices That Are Endangering Your Business
Businesses need to be aware of five office tools that are particularly vulnerable, according to experts.
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Five Questions on Financial Crime
What do we mean by financial crime?
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FASB Provides Guidance on Reporting Discontinued Operations
New guidance on representing when a company or organization discontinues its operations.
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About NSAC

The National Society of Accountants for Cooperatives (NSAC) is a professional society, formed in 1936, comprised of approximately 2,000 individual members actively involved with the financial management and planning of cooperative business. NSAC members are either employed by a cooperative or provide professional services for cooperatives.

Serving Individual members and their respective organizations

  • Employees of cooperatives who are accountants, bookkeepers and office managers; controllers and tax directors; internal auditors and in-house legal staff, as well as CFOs and other finance professionals
  • Professionals advising and providing services to cooperatives such as independent auditors and CPAs, tax advisors and preparers, cooperative bank professionals, professionals working for law firms, government employees advising cooperatives and cooperative association employees

Providing

  • Continuing Educational Programming
  • Continuing Professional Education (CPE) credits Resources on Financial Reporting Programs for both Small and Large Cooperatives
  • A Directory of Other Cooperative Professionals
  • Networking Opportunities
  • A Quarterly Technical Journal

History
In 1935, auditors for the Northern States Cooperative League began holding meetings. Due to the success of these gatherings, they decided to form a national organization. NSAC Milestones:

1943 – Formally structures as an independent, nonprofit corporation
1948 – Begins publishing The Cooperative Accountant
1952 – Publishes first cooperative accounting report
1980 – Hires first professional manager1998 – Organizes nationwide Electric Cooperative Chapter
2001 – Begins actively participating in FASB projects that impact co-ops
2008 – Becomes industry leader in international accounting standards development
2011 – Celebrates 75th Anniversary at Annual Meeting in Orlando, FL