The PBC Audit Checklist—and Why You Need One

If you’re getting close to an annual audit, you’ve probably heard the term “PBC”—but what is it and what does it mean?  First, it is important to understand what an audit REALLY is.  So many organizations view an audit as an opportunity to issue financial statements.  It’s not uncommon to even refer to the audited financials as the auditor’s financials when, actually, it is the responsibility…

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The Difference Between an Audit Committee and a Finance Committee and Why a Nonprofit Needs Both

For nonprofits, deciding on a board committee structure can be a challenge. Often, the decision is solely based on the number of board members and their talents and expertise. Proper financial oversight, however, is important to the success of a nonprofit because it ensures that the organization is in compliance with applicable laws, is acting…

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3 Keys to Being Prepared for Your Next Nonprofit Audit

3 Keys to Being Prepared for Your Next Nonprofit Audit For many nonprofits, going through an annual audit is like undergoing a root canal—it’s a painful, stressful, and expensive experience. The good news is that it doesn’t have to be that way (the audit, that is.) Through advance planning, organization and knowledge of the audit…

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