The Nonprofit FAQ

What do you actually get in an audit?

Funders and regulators often require audited financial statements for nonprofit organizations. What does this mean, actually? "The association's auditor is basically selling confidence in the financial information that is being presented. Financial statements contain essential information for the decision-making of many stakeholders--including members, directors, employees, funders, bankers, creditors and government." For the rest of the article, see http://www.axi.ca/tca/Sep2002/tca04d.htm. Thanks to Wayne Amundson, CMA, CAE, President of Association Xpertise Inc., for calling attention to this resource. The firm can be reached at: Suite 867, 105 - 150 Crowfoot Cr NW Calgary AB T3G 3T2 Ph: (403) 374-1822 Posted 10/11/02 -- PB