Charitable nonprofit organizations generally aren’t required to conduct independent audits. Certain circumstance, however, could trigger an independent audit. Many groups, such as the following, rate nonprofits and offer guidelines on when audits should be obtained: These groups are not regulating
You want to demonstrate your commitment to financial transparency. By publishing an independent audit report on your nonprofit website and providing the report to anyone who requests it, you’ll be assuring your donors and the public that your financial practices
You manage a nonprofit or serve on its board, and you’ve heard that nonprofits need to have an independent audit. You wonder whether your organization needs one and want to better understand what it actually entails. State and federal laws
The Internal Revenue Service (IRS) doesn’t require nonprofits to have independent audits, but that doesn’t mean your nonprofit never needs an audit. Some federal, state, and local government agencies require audits, as do some banks and foundations. Generally, the requirements