What 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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Checklist for Closing Books

Monthly financial statements are key supports of an organization’s financial stability. They help those in charge of governance make decisions based on their financial position, which means they need to be both accurate and timely. The key to generating financial statements is being able to close the books each month easily and accurately.

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Overview of Rural Development Handbook Changes

The USDA changed how Rural Development regulates properties’ financial statements in 2018, but not every change in their handbook affects properties on a daily basis. The most dramatic changes affect AUPs, prescribed forms for non-audited properties, and the basis for requiring audits on for-profit properties.

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