not-for-profit engagements

Not-for-profit auditing is the independent examination of a nonprofit organization’s financial statements, records, and internal controls to ensure that financial information is fairly presented and in compliance with applicable accounting standards and donor restrictions. The process includes planning the engagement, assessing risks, evaluating internal controls, performing tests of transactions and balances, and considering compliance with laws, grants, and funding requirements. Because nonprofits often rely heavily on donations, grants, and volunteer efforts, the audit also focuses on the proper stewardship of resources and accountability to stakeholders. A not-for-profit audit provides reasonable assurance that the financial statements are free from material misstatement, whether due to error or fraud, and enhances credibility with donors, boards, grantors, and the public. Beyond compliance, it supports transparency, strengthens governance, and helps ensure that resources are used to advance the organization’s mission effectively.

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