Audit

  • A well-respected and well-recognized name within the non-profit industry, Wegner CPAs thoroughly understands the importance of the many factors that determine the success of your organization. With competition for revenue sources being stronger than ever and regulations continually increasing for the non-profit industry, you can depend on Wegner CPAs as your most valued advisor. We will ensure compliance with laws and regulations and discover operating inefficiencies.

  • The segregation of duties essentially boils down to assigning different personnel to different steps in the processes of managing the nonprofit's money. The premise of this practice is that, the more people involved in the management of assets, the less likely for there to be instances of theft or fraud when compared to one individual possessing near complete control over a process.

  • How can you optimize your audit? We will provide a deep dive into the audit process and how non profits can prepare for their audit as efficiently and effectively as possible. This program will help streamline your back of house operations so that resources can remain focused on the non profits core mission.

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  • Last updated 9/17/2020

    Jaime Campbell, CPA, Tier One Services, LLC

    Auditing is an information service. As such, many forward-thinking auditors have already been working virtually for years, as evidenced by their vacation photos posted on Facebook while they were conducting “analytical procedures” from their laptops, which they bring with them everywhere, including the bathroom.

  • Who’s responsible for which kinds of oversight? The Board of Directors has overall legal responsibility for the financial health of your nonprofit. Board members need to understand key financial information and policies, and it’s recommended that they look at the following reports at least quarterly: Fiscal year budget (with comparisons to actual expenditures/revenue). Profit and loss statement (including programs).
  • Charitable solicitation compliance is not optional. It is the law. Charitable solicitation is regulated on the state-level and the requirements vary by state. Forty-one states require registration and four additional states require disclosure statements to be included on solicitations. Charitable solicitation can take on many forms of asking for a donation, including fundraising online. In addition to registration, many states require foreign qualification of the nonprofit corporation and appointment of a registered agent.

  • Download a sample Board Member Committee description to use as a summary of who serves on which committees and what each committee's area of responsibility entails.

  • Reporting Requirements for Nonprofits with State Grant Funds is a quick, helpful summary table for reporting requirements for nonprofits with state grant funds. Additionally, for online reporting, the N.C.

  • Appropriate document retention is important for a nonprofit's compliance with state and federal law, while balancing the need for managing storage space (both physical and digital). A clear policy for staff can prevent the innocent destruction or disposal of documents.

  • A sample RFP for audit services that you can adapt for your organization.

     

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