Preparing for an audit is a year-round task, and while these preparations require your full attention, the benefits for a nonprofit are undeniable.
Audits help:
- Show you’re a good financial steward of the funds your donors and grantmaking organizations provide
- Reassure supporters that your nonprofit manages its operations efficiently
- Give board members and executives accurate financial data to make informed decisions
While audit preparation takes considerable time, you can take steps today to lighten the administrative lift.
An audit is a partnership. From forming a team and working together within your organization, to selecting an auditor and working with them through the audit process, when you share the responsibilities among a small team and approach the audit in phases, your nonprofit can successfully complete them and decrease the demands on any one person.
Best Practices for and a
Guide to Your Nonprofit Audit
Preparing for your audit is a year-round effort. From committing to deadlines to aligning responsibilities and staying on top of grant reporting, regular management is required. Kick-start your audit preparation with these four best practices:
If you need more assistance, the comprehensive Guide to Improving Nonprofit Audits lists steps to help your nonprofit thrive through the pre-work, fieldwork, and post-audit stages and lists several best practices to increase audit and operational efficiency.
The Ultimate Audit Preparation Playlist
Did you know listening to music while you work can lead to increased performance? This Spotify playlist can help reduce stress and increase focus. Take a listen!Â
