by ABIP | Feb 19, 2014 | Non-Profits
The financial statements of nonprofit organizations need to be examined by a qualified, independent and objective professional. The purpose of doing so is to determine their accuracy and whether they fairly reflect the NPO’s financial situation. These statements must...
by ABIP | Feb 10, 2014 | Non-Profits
Nonprofit Organizations are likely to be required to present more audits in comparison to profit making businesses. The reason is that they depend solely on donations and government help. Since they are held accountable to donors and the government, it is important to...
by ABIP | Jan 22, 2014 | Non-Profits
An audit is an examination of your accounting records and financial statements. Not all nonprofits are required to have an audit. Generally speaking, the federal Office of Management and Budget (OMB) requires an audit if the nonprofit spends more than $500,000 in...
by ABIP | Sep 19, 2013 | Non-Profits
Having an audit can be a very stressful process. However, one of the things that you can do to make things better is to find a skilled and knowledgeable auditor who will turn out to be your ideal auditor. Because auditing is a very meticulous process, it is important...