When the end of your audit is in sight, the last thing you want to do is answer follow-up questions from HUD about the numbers you submitted. However, these questions are usually easy to answer and will help avoid strongly worded letters and hefty fines.
Though there are many benefits to getting an audit of your financial statements, it’s not always required. Make sure you understand your organization’s financial obligations and goals before seeking what may be an unnecessary expense.
Although Indiana’s not-for-profit organizations play a huge role in making our state a valuable place to live and do business, their tax reporting requirements can be a major hassle to completing their respective missions. We tried to make it easier in this reference guide for 2019.
Though it’s not a situation we would wish on anyone, sometimes CPA firms treat their clients poorly enough to be guilty of an ethical violation. Here’s what to know about the most common situations and what you can do to fix it.
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.