Now that you have determined the need for a nonprofit financial statement audit, it is time to select an accounting firm and begin the process. This can be an overwhelming experience, but it doesn’t have to be. With the right team on your side and all the documentation you need prepared ahead of time, you’ll be ready to execute a successful audit.
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Understanding Audits for Nonprofits (Part 1)
Going through an audit can be a very daunting experience. That goes for both independent audits of your financial statements as well as those necessitated by the IRS. Even though an independent audit has a completely different purpose than an IRS audit, the process can feel equally stressful if you don’t know what to expect. So, how do you know if you need a financial statement audit? When should you begin?
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2017 Midyear Nonprofit Updates
At Cray Kaiser, we’re always looking for ways to stay up-to-date on the ever-changing nonprofit policies. It’s especially important now since many organizations are beginning a new fiscal year on July 1. This month, we attended the 36th Annual Conference for Not-For-Profit Organizations hosted by Chicago-Kent College of Law. The conference provided several takeaways that will directly impact our nonprofit clients. If any of these issues raise questions for your organization, please do not hesitate to contact us today.
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