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Maximizing the Audit Experience for Nonprofits – Getting the Most Out of Your Audit
This seminar is designed to help companies understand timelines for the audit process, how the auditors think and some tips on how to maximize the entire process. This seminar is presented by Nonprofit Audit Partner Andreas A. Alexandrou, Nonprofit Audit Partner Walter B. Derengowski and Senior Manager, Outsourced Accounting and Advisory Services Elinor Litwack.
Maximizing Your Audit Experience at the Center for Nonprofit Advancement
Nonprofit organizations that are prepared ahead of time for an audit avoid making the audit an arduous process and, instead, gain insight and tips on achieving their financial goals and meeting donor expectations. This session is designed to help chief financial officers, controllers and other nonprofit accounting staff prepare for a smooth audit process. Accounting…
Common Management Letter Findings for Non-profit Organizations & Audit Preparations
For the fifth topic of the six part series GRF audit partners Jennifer Arminger and Robert Albrecht focused on the most common management letter findings for non-profit organizations that result from an annual financial statement audit and how to properly prepare for an audit, to minimize the risk of findings. They focused on the issues…
IRS Form 990 Reporting Issues
In our fourth topic of the six part series, GRF audit partner Jennifer Arminger and tax partner Richard J. Locastro will discuss the most common IRS Form 990 Reporting issues such as the public support test, UBIT, transparency of information, compensation, and more. Understanding and combatting these common issues helps make the Form 990 an…
Allocation of Functional Expenses and Overhead/Indirect Rates
In this second topic of a six part series, GRF audit partners Jennifer Arminger and Robert Albrecht will explore the commonly challenging topic of allocating expenses across various operations, including different methodologies and best practice recommendations. Additionally, we will dive into the topic of overhead allocations and how to accurately track and report overhead to…
Financial Policies and Procedures (Best Practices)
GRF audit partners Jennifer Arminger and Robert Albrecht presented the third topic in a six part series about non-profit industry best practices for financial policies and procedures. The seminar focused on common questions surrounding financial policies and procedures in both federally and non-federally funded organizations. The seminar provided guidance on certain required regulations under the new Uniform Guidance…
Understanding Financial Ratios, Analyzing Unrestricted Net Assets and Setting a Proper Reserve
GRF audit partners Jennifer Arminger and Robert Albrecht presented this opening topic in a six part series, focused on how to properly read financial statements of a non-profit organization including an in-depth look at unrestricted activities and net assets and how to set a proper reserve. Additionally, they took a look at several key financial ratios,…
New Year’s Resolutions for Your Nonprofit Finances
Tax Partner Dick Locastro provides updates, considerations, and the timeline and coordination for preparation of your form 990 once your audit is scheduled. Audit Partner Trevor Williams provides tips on preparation, auditor-auditee relationship, and accountability during your annual audit.
CyberSecurity: Taking a Proactive Approach
Senior Manager and Certified Information Technology Professional Ricardo Trujillo presented best practice tips for how to strengthen cybersecurity and minimize cyber threats. Key topics explored in this presentation include: Framework of cybersecurity objectives Confidentiality Control methods Security architecture How to manage security incidents Adaptations to evolving technologies
Secrets to Finding a Great Auditor
Selecting a potential candidate to conduct your upcoming audit can be a difficult decision due to their close relationship with you and your finances during the audit process. Audit Partner Trevor Williams provides insight into interviews with, and the selection and relationship with your auditor. Key topics include: Requirements of your auditor Where to find…
Maximizing the Audit Experience
Nonprofit organizations that are prepared ahead of time for an audit avoid turning the audit into an arduous process and instead gain insight and tips on how to achieve their financial goals and meet donor expectations. This presentation, designed by Walter Derengowski of Gelman Rosenberg & Freedman and Alan Lesher of The YMCA of Inland…