Preparing for an Audit



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Before the audit
There is a lot your nonprofit can do to prepare for the audit that will result in a smooth audit for your staff, and for the auditors. Having documentation ready for the auditors will save time (and money) and will result in less distraction for your staff during the audit process. The engagement letter (or Request for Proposal) can be considered a roadmap of what to expect during the audit, however, you may still have questions about exactly what the audit will entail. [Note: If your nonprofit does not have a separate “engagement letter” with the auditor, the proposal for audit services may serve the same purpose as the engagement letter by spelling out the scope of the audit, and who is responsible for what.] The engagement letter and/or proposal will usually include the following basic terms:

A description of services to be performed
What the organization’s staff will be responsible for
The fees charged for the audit and related work
Start date and completion date for the audit

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