The MSG Team
PREPARING YOUR NONPROFIT FOR YOUR AUDITOR . . .
Audits. A few of your are excited to read about this. The rest of you are already falling asleep while the others are feeling panicked just thinking about it.
Whenever your audit time comes at your nonprofit . . . here are a few tips for you to consider in order to be best prepared when your auditor comes to visit:
1) This may sound dumb. Ranks up there with customer support asking you if your computer is plugged in. However, this is something we advise everyone, and that is, to make sure you contact your auditor to see what needs they might have. How many tables, how big of a room, what days they need to see which staff members, etc.
2) If there is any prep work that needs done, and they ask you to do it, then do it. Nothing could frustrate an auditor more than showing up ready to go, only to find out that the items they asked for are not ready. Now they can't move forward with their day, which is a loss for everyone.
3) Make sure that you have some private space for them that is near your financial information. If the person who manages your finances is located on the first floor, then be kind, and don't put your auditor on the 8th floor, inside the mechanical room.
4) Our final piece of advice . . . be honest with them. Some people see audits as a negative thing and don't want any "bad" marks held against them. If this describes you, then be sure to change your attitude. Audits are a GREAT tool, that helps you to learn how to get better. Be honest with your auditor, even if it makes you look bad. Then make it a challenge to fix that item for the following year.
To learn more about audits we suggest you visit our friends at BerganKDV. Not only are the wonderful financial professionals, but they work with organizations all over the country, and have a special nonprofit division. https://www.bergankdv.com/
To learn more about strategic and fundraising plans, feasibility studies, planned giving studies, need assessment studies, and capital campaigns, visit us at www.midweststudiesgroups.com.