California CodesBusiness and Professions Code - BPCDivision 7 — General Business RegulationsPart 3 — Representations to the PublicChapter 1 — AdvertisingArticle 1.3 — Charitable SolicitationsSection 17510.5
(a) The financial records of a soliciting organization shall be maintained on the basis of generally accepted accounting principles as defined by the American Institute of Certified Public Accountants, the Governmental Accounting Standards Board, or the Financial Accounting Standards Board.
(b) The disclosure requirement of paragraph (7) of subdivision (a) of Section 17510.3 shall be based on the same accounting principles used to maintain the soliciting organization’s financial records.
Notes
Requires a soliciting organization to maintain its financial records using generally accepted accounting principles as defined by the American Institute of Certified Public Accountants, Governmental Accounting Standards Board, or Financial Accounting Standards Board. The specified charitable-solicitation disclosure must be based on the same accounting principles the organization uses for those financial records.
Use as reference
Lexinter.net | California Code, Business and Professions Code - BPC § 17510.5 | https://laws.lexinter.net/codes/california/business-and-professions-code/division-7/part-3/chapter-1/article-1-3/section-17510-5