Am I Required to Have an Audit?

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 required by law, by a grantor, by the organizations by-laws, or some other requirement. There is no audit requirement based on the mere fact an organization is a not-for-profit entity. Audits are the highest level of assurance and require the most time to complete; therefore, are the most costly. An audit is designed to provide the user w