If you're a nonprofit business owner, you may be wondering what a management letter is. If you're preparing to go through an audit, it's essential to understand what to expect from the management letter. In today's episode, we will be going deeper into what you can expect from an audit and how this letter will summarize the auditors' findings and provide recommendations for improvement.
Information about the management letter provided in this episode:
The auditor's letter is an important document to review. It can help you improve your financial statements and better manage your business. If you receive a management letter from your auditor, be sure to take the time to read it and understand what it says. You may need to make some changes, but you can get back on track and improve your financial situation with the right plan in place. If you still have questions, please reach out to me in my DMs!
Mentioned Resources:
Understanding the Management Letter
CFO's Guide to Significant Deficiencies and Material Weaknesses
If you want to continue the conversation, find me on Instagram and send me a DM! I would love to hear more about you and your nonprofit!
Are you enjoying the show? Be sure to head over to Apple Podcasts or Spotify and leave a rate and review of the show! I'd love to hear from you.
Creating Internal Controls for your Organization
Conflict of Interest with Potential Business Partners
Avoiding Murky Data Reports
Outlining Government Expectations for Financial Accountability
Fiscal Sponsorship Pitfalls
Central Coast Kids and Families Embezzlement
Examining Rodeo Austin Accountant Million Dollar Theft
Avoiding Misappropriation with Documentation
Prioritizing Organization to Avoid Clerical Errors
Prioritizing Proper Accounting
Let's Talk About Compensation
Full Interview: Cherrise Wilks
Behind the scenes of Affinity Consulting Group
Cherrise Wilks Recommendations
Is Affinity Consulting Group A Fit
What Makes Affinity Consulting Group Different?
Meet Cherisse Wilks
Your 990
Collaborate
Create a Wishlist
Create your
podcast in
minutes
It is Free
The Commercial Edge: Unleash the Power of People
The emPOWERed Half Hour
Social Dallas Podcast
Change Church Podcast
Six Degrees with Kevin Bacon
Nonprofits Are Messy: Lessons in Leadership | Fundraising | Board Development | Communications
The Biz of Nonprofit Consultants