An independent auditor, such as a broker dealer audit or California nonprofit audit provider, can help you determine the best way to organize your records.
How Nonprofits Can Mitigate Volunteer Liability Issues
After a long year away from your volunteers during COVID, it’s wonderful to see their faces back at your nonprofit’s site. However, their return brings an increased risk of liability. Just as employees could sue you for injuries or other harm contracted while on the job, volunteers can pin you with a lawsuit. Nonprofit audit and broker dealer audit experts alike suggest having processes in place to reduce the risk of lawsuits from all stakeholders.
The Nonprofit 501(c) Audit
When it comes to your nonprofit, there are different audit approaches to verifying sound financial management practices and operational compliance. The scope of work to review your nonprofit will vary depending on the organization’s classification. There are 29 different types of 501(c) classification statuses for tax exemption; however only one classification is allowed to give donors […]
The Nonprofit Giving Season: How to Stay Compliant with Your Fundraising Activities
As the end of the traditional tax year approaches, giving is on the minds of many business leaders and philanthropists. It’s a busy season for nonprofit professionals and you’re likely ramping up your fundraising efforts so that your organization has every opportunity to meet its financial objectives. Meeting your fundraising goals is important, but so […]
Is An Audit Necessary for Your Nonprofit?
When it comes to audits, an independent nonprofit audit is different than an IRS audit. An independent auditor, who should be a Certified Public Accountant (CPA), completes an independent audit. These audits are an examination of your financial statements and accounting records. Once a nonprofit audit is completed, the auditor will give your company a report […]