/Tag: accounting and audit gumbiner savett

Receive an IRS audit letter? Here’s what you need to do.

By |2017-05-24T13:42:03+00:00February 15th, 2017|Categories: Non-profits|Tags: , , , , |

In recent years, the IRS has increased its scrutiny β€” including actual audits β€” of not-for-profits. Do you know what to do if your organization receives an audit letter? What is an audit? An audit begins with the initial contact from the IRS and continues until a closing letter is issued. Before closing an audit, [...]

3 steps to ensure a smooth external audit

By |2017-05-24T13:42:03+00:00January 30th, 2017|Categories: Audit & Accounting|Tags: , , , |

If your company issues audited financial statements and follows a calendar year end, these steps are a part of your external auditing procedures. Once the engagement letter is signed, the process begins with preliminary financial statements and possible year-end physical inventory counts. However, audits can be complicated, so taking time to additionally streamline audit fieldwork [...]

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