Reeder & Associates, PA

Updated on June 30, 2020

Audits of Nonprofits

Audits take considerable time and effort, but they provide nonprofits with fair assessments of their financial health, in addition to revealing vulnerabilities such as weak internal controls, insufficient cash reserves and poor investment policies. And although the IRS Form 990 doesn’t mandate audited financial statements, the IRS does ask organizations to discuss their audit activities, as well as the role their board plays in them.

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