HOW TO ACE YOUR AUDIT

Our nonprofit clients have been receiving an increasing number of financial statement audit requests from donors, grantors, and government agencies. When our firm is asked by a prospective client to perform an audit of their organization, I typically ask, “Why do you need an audit done?” or “Is there an external party requesting that an audit be performed?”

The audit process can be a large project to undertake, therefore it is important to ask these sorts of questions to ensure that audit services are, in fact, appropriate.