The Board of Directors is a critical governing component of any non-profit organization. Not only does it play a pivotal role in nurturing the stated mission of its organization, but it’s financially responsible for the organization that it serves, both in terms of the financial viability of any activities the organization wishes to carry out as well as in terms of an organization’s overall financial state.
I typically love when March rolls around each year. It signals spring has arrived and along with it, warmer weather, the start of baseball season, and of course March Madness with the NCAA Final Four Tournament. However, there is another type madness that occurs during this time – audit season! Here at Talley Management Group, we facilitate and manage over 19 audits between the months of February and April. Through the years and many audits, we have become experts at preparing for this process and ensuring that it is a smooth one leading to minimal, if any adjustments, clean opinions and reduced costs.
Similar to preparing for our NCAA bracket picks through research and thorough preparation, we have come up with some tips and tricks to prepare for the auditors visit which may help to make this process a bit less stressful.