Services: Audit and Assurance

Luck of the Audit: The Role of Internal Controls in Audit Preparedness

Whether your organization is new to the audit process, or preparing for your 50th audit, savvy nonprofits know that the annual audit is a vital part of a sound financial management process. Audits ensure that information disseminated to the public about your organization’s financial position is fairly presented – and there are no shenanigans. The…

Read more ›

Mastering Your Statement of Functional Expenses

A statement of functional expenses is fundamental to nonprofit accounting. While providing a comprehensive breakdown of your expenditures, a functional expense statement also helps to enhance the accuracy and transparency of your nonprofit financial reporting. Not to mention, failure to accurately report functional expenses on your Form 990 could put your organization’s nonprofit status in…

Read more ›

2024 Yellow Book Updates: What You Need to Know

By Tricia Katebini, CPA, MBA, Partner, Audit The long anticipated 2024 Yellow Book, which supersedes the 2018 Yellow Book, was released Thursday, February 1, 2024, by the United States Government Accountability Office (GAO). The revisions to the Yellow Book reflect major developments in the auditing and accountability professions and emphasize specific considerations applicable to the…

Read more ›