Even when done properly and quickly, audits drain time away from your team and often cause a lot of stress among those working on it. The question on everyone’s mind is “How can we get this done faster?” The answer: by mastering communication skills and being timely with every step of the process.
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How to Select a Non-Profit Board of Directors
Board members of a not-for-profit hold a significant amount of sway over the direction of the organization. Though they can be a force for good, they can also cause discord and disrupt the organization’s mission, so make sure you have the right team players to ensure success and unity.
read more“Not My Responsibility!”
It’s the classic bureaucratic run-around: “That’s not my job. Go see someone else.” The same frustration that plagues anyone who walks into the BMV also exists in our companies when employees seek to do the bare minimum of their job description, rather than serve others well.
read moreWhat Happens During Final Audit Testing?
The final phase of an audit is what guarantees the assurance sought by the entire process: it’s when the auditors involved actually test the year-end amounts and balances. It’s also a period of intense communication, and requires cooperation and open communication from everyone involved.
read moreHow to Respond to an Auditor’s Final Request List
Balancing your daily responsibilities and answering an auditor’s request list can be competing interests, but gathering those documents as early as possible will save you and your organization time and hassle during the audit.
read moreBenefits and Tips to Closing Books on Time
We get it, not all months are smooth sailing. But when your organization relies on accurate, timely financial statements to guide decisions and discussions, the deadlines are non-negotiable. Take your monthly schedule into your own hands to make sure you’re never late closing the books.
read moreWhat To Do When You Stop Receiving Housing Assistance Payments (HAP)
Though it can be a nerve-wracking discovery, missing a HAP check doesn’t doom your property. Notify HUD and take action to make sure your property stays financially stable during this temporary lull in revenue.
read moreExperienced Errors
No matter how long you’ve been doing your job, or how well-qualified you are for your responsibilities, there’s always room for error. LaTesha discovered this on a recent trip to a client who has always been reliable, yet made an elementary mistake.
read moreNot-For-Profit 2018 Financial Reporting Changes
Not-for-profit organizations around the country have been anticipating financial reporting changes since they were first announced in 2016. With the year ended December 31, 2018, they will be required for all non-profits across the country. Find out what’s changing in your financial statements this year.
read moreWhat Happens During Preliminary Testing?
The preliminary phase of an audit teaches us about our client’s major changes throughout the year, what kinds of internal controls they use, and what strategies we may need to implement during the audit itself. This knowledge isn’t just helpful, it’s necessary to make the audit process smooth, simple, and stress-free.
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