Nonprofit audit | SherriRose.CPA

Audit Preparation: Preparing the Schedule of Expenditures of Federal Awards (SEFA)

All nonprofit organizations that expend $750,000 and more are required to have a single audit under the Uniform Guidance One of the...

Subrecipient Responsibilities for Grant Revenue pass-through

A subrecipient is an organization that receives federal awards from a pass-through entity rather than directly from the federal grantor...

Year-end Financial Close for Nonprofit Organizations

All nonprofit organizations, even the smallest of nonprofits, benefit from having a well-defined year end closing process. The first...

Best Controls for Small Nonprofits by Sherri Rose, CPA Nonprofit Auditor

Smaller nonprofit organizations often do not have the volume of transactions to require multiple level controls. Too many controls can...

Nonprofit Statement of Functional Expenses Allocation Methods, by Sherri Rose, Nonprofit Auditor

If you are a nonprofit organization in North Carolina you may be required to prepare a statement of functional expenses. The statement...

How to Prepare for the Year End Audit

Once year end hits, the clock starts ticking. Most audits required by regulatory agencies or grantors, impose a deadline for completion...