Be prepared and confident when audit time rolls around
Congratulations! Your organization has been successful in receiving federal grants and your team is on cloud 9. Then you remember two words that create a moment of panic: Grant Audit. Is your organization ready for it? If you’re not sure, we have some great information for you on how to successfully prepare.
Any organization that receives $750,000 in federal funds is required to have a Single Audit performed, and many foundations require an audited financial statement as part of a grant application. This audit is necessary because federal funders need to make sure the organizations are spending the funds with high integrity and honesty, as they are responsible for making sure tax payers’ money is being spent in compliance with regulations.
Because an audited financial statement is fundamental to your organization’s reputation and success, a qualified CPA is an integral part of the process and can have a profound effect on the future of your organization.
Complete the form below to learn more about our recommended strategies to help make your audit process streamlined and successful.