Last time we learned who does a financial statement audit and what happens, now let’s learn 2 more things to expect from your audit.
 

Why is the auditor coming?
The auditor’s goal is to inspect your organization’s financial statements with an “attitude of professional skepticism”. After their inspection, they will attest that your financial statements fairly represent the financial position of your organization. With that, your donors will have confidence in your financials.
 
What will not happen during an audit?
Auditors will not search for fraud, but they will report it if found. They will not fix or clean up your books, but they may provide useful recommendations for your organization’s accounting. They will not reveal their testing and documentation procedures in order to preserve the integrity of their investigation.
 
Now you know what to expect from your financial statement audit!
 
Learn more here: http://ow.ly/RvaJi

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