Every nonprofit has different reporting responsibilities. We help you identify the engagement appropriate for your organization’s funding requirements, governing documents, and financial reporting needs.
An independent financial statement audit provides reasonable assurance about whether your financial statements are free of material misstatement. We examine supporting evidence and issue an independent opinion on whether the statements are presented fairly under the applicable accounting framework.
These audits may be required by charitable registration rules, grant agreements, lenders, or governing boards.
Churches and faith-based organizations may obtain financial statement audits to support accountability to congregations, governing boards, lenders, and other stakeholders.
Our audit approach considers the organization’s activities, including contributions, designated funds, ministry expenses, property, and related organizations. A church audit is tailored to the organization; it is not a separate level of assurance.
Some government agencies and funding agreements require financial statement audits performed under Government Auditing Standards, commonly called the Yellow Book.
These engagements include additional auditor requirements and reporting on internal control over financial reporting and compliance. They do not automatically include an opinion on internal control effectiveness or compliance.
A Single Audit combines a financial statement audit with additional work addressing federal awards, including compliance testing for major federal programs and reporting on internal control over compliance.
Organizations generally must obtain a Single Audit when they expend $1 million or more in federal awards during a fiscal year, subject to applicable rules and permitted exceptions.
A funder may require an audit addressing a particular grant, program, expenditure schedule, or compliance requirement.
The engagement scope depends on the funding agreement and applicable standards. A program-specific audit under federal rules is available only when eligibility requirements are satisfied.
A review provides limited assurance, primarily through inquiries and analytical procedures. It involves substantially less work than an audit and does not include an audit opinion.
A review may be appropriate when an audit is not required and the intended users accept a lower level of assurance.
An agreed-upon procedures engagement addresses specific questions through procedures established for the engagement—for example, inspecting selected disbursements, comparing grant expenses with supporting records, or checking specified financial information.
We report the procedures performed and factual findings. We do not provide an audit opinion or assurance conclusion.
Send us the requirement from your grant agreement, lender, government agency, or governing documents. We can discuss the appropriate engagement before preparing a proposal.