Nonprofit Audit Requirements, Recommendations & Pro Tips!
So, your nonprofit is being audited - don't panic!
Do All Nonprofits Require An Audit?
First, we must say that our team at Blue Fox is pro-audit for nonprofits. We know that financial oversight helps develop sustainable and transparent financial management practices. Is an audit intimating? It can be. But your organization will come out stronger on the other side. We encourage you to heed the advice in our audit readiness checklist so you can be as prepared as possible for a smooth and successful audit.
But, is it required? The answer is more complicated than yes or no. According to the Council of Nonprofits, there are "circumstances that may trigger the requirement for an independent audit." Click here for that full article.
For further questions, feel free to contact our team of nonprofit financial gurus. We can help your organization get sorted year-round and in the event that your nonprofit is being audited. We cheerfully serve our clients with customized financial and back office services ranging from standard bookkeeping and accounting, payroll and tax, to coaching and consulting, to comprehensive virtual CFO services.
Welcome to the Blue Fox Blog! A fairly entertaining source of info and news related to our company, nonprofits, social sector trends, and, of course, accounting. Enjoy!
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