The operating reserve is cash to be used in the organization. It is part of an overall cash flow plan. Reserves can be for a specific...

Audits are expensive. They are the highest level of assurance; therefore, require the most work. The fee quoted will depend on several...

If you are a nonprofit organization in North Carolina you may be required to prepare a statement of functional expenses. The statement...

Contributions can be made to a nonprofit in either cash or property. Non-cash contributions can be tangible or intangible. Tangible...

Volunteers are an integral part of many nonprofit organizations. Some organizations depend on their very survival by incorporating...

All nonprofit organizations that expend $750,000 and more are required to have a single audit under the Uniform Guidance One of the...

A subrecipient is an organization that receives federal awards from a pass-through entity rather than directly from the federal grantor...

Accounting for grant revenue is vital for the nonprofit organization. Careful attention to detail must be provided throughout the life...

All nonprofit organizations, even the smallest of nonprofits, benefit from having a well-defined year end closing process. The first...

Smaller nonprofit organizations often do not have the volume of transactions to require multiple level controls. Too many controls can...

Part of a nonprofit organization’s board of director’s and management’s fiscal responsibility is a review of the information return, form...

The operating reserve is cash to be used in the organization. It is part of an overall cash flow plan. Reserves can be for a specific...

Recently, I overheard a board member of a North Carolina nonprofit state they did not have to charge sales tax because they are exempt. ...

Accounting for grants can quickly become chaotic if not properly administered. Nonprofit Auditors know grant funding has to be properly...

As a nonprofit auditor in North Carolina I often encounter incomplete vendor files and vendor on-boarding procedures. A file should be...

If you are a nonprofit organization in North Carolina you may be required to prepare a statement of functional expenses. The statement...

The board is responsible for their own policies and procedures, like having all board members sign a related parties disclosure and code...

Once year end hits, the clock starts ticking. Most audits required by regulatory agencies or grantors, impose a deadline for completion...

The first question I ask as a nonprofit auditor when receiving a request for an audit quote is “Why do you need an audit?” Audits can be...