Do I need an Audit?
Federal requirements for not-for-profit entities which receiving $750,000 or more in federal funding in a single year require an independent professional audit. Certain states and lenders require additional regulatory compliance. NFP's without such requirement they still decide in favor of the financial audit. Companies, corporations and businesses, both for-profit and nonprofit, may wish to reconcile doubts or affirm practices and controls to board members and shareholders. In such a case a third-party licensed CPA firm can perform agreed-upon procedures. Based on the evaluation, a report of findings will be issued on specific procedures performed on specified financial areas.