Not-for-Profit Organisation Audits.
When you need an audit or review, call us.
If your organisation has a turnover exceeding $250,000, an annual review or audit is mandatory.
Our experience in auditing all kinds of not-for-profit organisations, clubs and associations is extensive, and our team includes a Registered Company Auditor.
Our goal is to help you manage your NFP safely, simply and with confidence. We’ll find and note any discrepancies, seek areas in which we can help you streamline operations, processes or systems, and do it all in time to meet your deadline.
Five simple steps for an efficient not-for-profit organisation audit.
Natasha Woodvine
Auditor
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Before we begin.
Your first contact will be with our Audit Administrator, who will schedule a commencement date and provide you with a short questionnaire that will assist our audit process. We will also ask you to sign a bank confirmation request, which we’ll forward to your bankers for processing.
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Planning.
All of our audits are meticulously planned, to make the process smooth and efficient, and to cause minimal disruption. An audit manager or senior will meet with you prior to commencing the audit, and your brief allows us to thoroughly understand your organisation. We undertake a risk assessment for all audits so we can focus on the most important areas, and if we identify any weaknesses or deficiencies we’ll show you how you can overcome them.
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Testing.
The testing process generally involves taking statistical samples of transactions and verifying their existence, nature and purpose by reviewing source documents. This part of the audit is usually conducted at your premises, but it is possible for you to send documents to our office for testing if you prefer. Depending on the size and nature of the audit, we may assign one or more auditors to the testing process, which is usually completed within a day, but may take longer for larger or more complex assignments. We may also need to verify the existence of assets, attend stock takes, or just talk to key staff members to understand certain transactions.
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Review.
All audit files and work papers are reviewed by our audit manager prior to finalisation and sign-off. This is conducted at our office and won't take any of your time, although some matters may require further information or clarification from you.
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Completion.
The audit is finalised upon issue of a signed audit report and a management letter highlighting any weaknesses and recommendations. We will always work with you to ensure that we understand and meet your deadlines. Following completion to your satisfaction, we will issue an invoice, and provide you with a clear quote of our fees for the following year's audit, so you have complete certainty for budgeting purposes.
Have more questions? Our team is here to help—reach out to us today.
Do you have any questions for our auditing team?
We’re ready to take the stress out of auditing for you. Contact FAJ Audit today for a no obligation discussion and quote.
What other not-for-profit managers are saying about FAJ Audit.
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