Creating an Efficient and Painless Audit Experience
Does the word “Audit” instigate anxiety in your organization? Whether you’re new to the world of nonprofit accounting or a seasoned professional, brushing up on the nonprofit audit process will benefit your entire organization.
Sure, audits can be time consuming and expensive, but they shine a light on how well your organization manages and tracks the funds destined to fulfill your mission – and passing it builds confidence in your donors, community and staff. Still audits can feel like a real burden, costing lots of money and weeks of staff time to complete.
Financial audits may be inevitable, but they don’t have to be a painful experience. To help you prepare for a smooth, successful audit, our partner, Abila, creator of MIP Fund Accounting solutions, developed Nonprofit Audit Workshop Guide 2018. The nonprofit audit guide consists of four chapters: Audit Basics, Preparing for Your Audit, Roles During an Audit, and What You Can Expect.
You will also discover:
- What an audit should achieve
- How to prepare for an audit
- Roles of staff members, board members, and auditors
- The role of technology in supporting audits
- What you can expect during and after your audit
- How to fully prepare for next year
You’ll also find additional in-depth information such as tips, red flags, new audit regulations for 2018, and recommendations to help keep audit costs down.
Your finance team members deserve to sleep well at night, knowing they’ve done everything they should to create an efficient and painless audit experience.
Are you stressed because you have an audit coming up? Don’t be! Audits need not be painful IF you prepare for them. Abila has also created a 3-page list of nonprofit audit best practices. It’s some of their best advice for making your next audit painless.
If you would like to learn how an Abila MIP Fund Accounting system can help you stay ahead of the audit process, give us a call today.