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Audit Approach:
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Each auditor on staff is a certified public accountant with at least thirteen years if public accounting experience working directly with nonprofit associations and small businesses. Our firm has in-dept experience with many areas which affect nonprofit associations, including unrelated business income, income from controlled groups, lobbying tax, sales tax, value added tax, and changing accounting regulations. In addition, several staff members have worked in various capacities for nonprofit associations, including outsourced controller during staff transition periods. The staff assigned to perform the engagement has the skills to provide each organization with highest level of service. Each area of the engagement includes a thorough review of taxation and accounting standards to insure each organization's financial statements and tax returns are properly prepared.
Initial Audit Procedures:
Based on our evaluation of the internal controls, we develop an audit plan to test the effectiveness of the internal controls and identify the audit procedures which are required to effectively audit the financial information of each Organization.
We perform the evaluation of the internal controls as soon as possible, preferable within thirty days of the engagement acceptance. At this time, we begin with our evaluation of internal controls and advise the Organization of any issues as they arise. These steps can be performed before an organization's fiscal year end. Our clients have found this step invaluable in addressing management issues. Many times these issues are resolved prior to the commencement of the audit. We also utilize this time to work with the Organization to develop a draft of the financial statements that will incorporate any new reporting requirements.
During the performance our internal control services, we will also address other changes in accounting standards which are currently being implemented in the industry that may not have been implemented by an organization. We will review these changes with the Organization and assist in identifying those standards which will affect the Organization.
At this time we will provide the organization with and advance listing of all items that will be needed for audit fieldwork. We find this step allows us to work as efficiently as possible, while allowing your staff adequate time to complete the request for audit information. Our advance preparation for the audit and our level of experience will result in reduced time required by the organization's staff to provide explanations and supporting documents. We work closely with each organization to coordinate the audit, information needed and are available to assist the organization in the process, if necessary.
Management Advisory and Consulting Services
We are available throughout the year to assist you with your business and financial needs. These services include:
Providing you with information regarding changing laws or court cases which could affect an Organization
Providing information on accounting trends and new accounting standards.
Providing business advice or research materials.
Evaluation in obtaining federal or private grants.
Fundraising.
