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

Today is Fire Prevention Day. Does your business have a fire safety or prevention plan?
 
A fire can be a catastrophic event, leading to destruction of property or loss of life. To ensure that your staff and employees are protected in the event that a fire breaks out, it is essential that every business have a fire safety plan in place. This fire safety plan should include a detailed evacuation plan that all employees are made aware of so they can exit the building quickly in the event of a fire.
 
Fire Suppression System
 
In most businesses, and especially restaurants, fire suppression systems should be installed. Fire suppression systems are complex devices that are strategically placed in different areas of the office building or kitchen. They will automatically trigger when the temperature changes to certain degrees or they can be manually turned on by pulling an emergency switch, which will then release chemicals onto the fire-prone locations to extinguish the fires. Restaurants and offices should have the fire suppression systems installed professionally, in compliance with fire codes. After installation, test the system thoroughly. Regularly inspect the system along with its fire extinguishers to ensure they comply with local laws and fire safety codes. The Texas Department of Insurance will also conduct fire safety inspections upon your request.
 
Evacuation Plan
 
Every workplace or business establishment must have an evacuation plan. Keep in mind, however, that even the most perfect plan will be useless if only the person who made it knows about it. Go through the evacuation plan and make sure that every staff member and employee is knowledgeable about what to do. The plan should include which exits to use, and employees should be aware of the number of steps required to reach the exit in case there are visibility problems. Every establishment should have at least two exits in case one of them is blocked. If the fire alarm rings, never ignore it. Use the evacuation plan and strictly follow it. Post the evacuation plan and perform fire drills to ensure you and your staff are experts at it. Make the necessary provisions for any disabled workers and take into account how you will help any visitors present during a fire but unfamiliar with your plan.
 
Related Reading: Fire Prevention Tips for the Workplace
 
Read more here: http://smallbusiness.chron.com/fire-safety-tips-businesses-549.html
 
Fire Prevention Day: http://ow.ly/TaGzb