Entries by Shannon Crowley

Preparing for Your Audit Throughout the Year

For many nonprofit organizations, audit preparation can feel like a last-minute scramble to gather documentation, reconcile accounts, and answer auditor questions. However, a successful audit starts long before year-end. By incorporating a few key practices into your organization’s routine financial processes, you can reduce stress, improve accuracy, and help the audit proceed more efficiently. Reconcile […]

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Forensic Accounting for Nonprofits

Fraud can significantly damage a nonprofit organization’s mission, reputation, and relationship with its community. When financial misconduct occurs, forensic accounting helps uncover wrongdoing, support legal action, and restore accountability. Why Nonprofits Are Vulnerable Many nonprofits receive federal funding, which often makes up a large portion of their revenue. If a nonprofit expends $750,000 or more […]

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The Importance of Audit Planning in Financial Audits

Planning is one of the four essential processes in conducting a financial audit, alongside Testing, Reviewing, and Reporting. The auditor plays a crucial role in this stage, responsible for creating a strategic plan that outlines what will be tested and how. The auditor must follow the requirements for an audit with auditing standard AS 2101: […]

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