With the stuffy language and seemingly redundant information, non-profit financial statements can seem like an irrelevant formality. However, if you know what you’re reading, you may soon realize just how powerful this financial tool can be to raising funds and increasing donor confidence.
Finish strong this fiscal year by preparing for your non-profit audit’s preliminary work ahead of time. Gathering the required documents before the CPA firm requests them will save your team time and hassle, and launch your organization into the final audit on-time or even ahead of schedule.
Though there are many misconceptions about changing CPA firms for your financial services, the bottom line is that if you’re choosing a more valuable firm, the process should be smooth and simple.
When your organization is required to have a CPA firm prepare financial statements, you may think your best value is the firm with the lowest fee. That’s not always the case. It’s not just about how much the service costs; it’s about how well you’re served for any cost.
Exit conferences are strategic ways of keeping everyone on the same page as the audit moves into its final stages. They can be used to solidify timelines, tie up loose ends, and exchange contact information to help keep the process running smoothly.