Our experience allows us to provide a wide-range of audit and strategic risk management services, including traditional services such as full-scope financial statement audits, and reviews of financial statements.
Does your board desire external financial accountability, but feel that a financial statement audit isn’t worth the cost?
- Or maybe your Church constitution requires an “external audit”, but you don’t know where to start.
As a simple and affordable audit alternative, we designed the “Financial Control Checkup.” The Checkup is flexible in nature and focuses on identifying the key controls that should be in place to help protect your organization and deter fraud.
We begin the Checkup with a planning session that helps identify your needs and design a targeted approach that focuses on the areas of highest priority or value to your team.
- Together, we work alongside your financial team to provide a user-friendly assessment of the status of these key controls at your organization. In layman’s terms.
- And if the assessment identifies areas that could be fine-tuned, you don’t have to worry about a “gotcha” approach.
- Instead, our experience allows us to once again work together with your team to develop simple, tailored solutions that work for you, rather than cookie-cutter solutions that don’t fit your unique circumstances.
- We also provide example tools to assist with implementation, such as policy and procedure templates.
By taking a collaborative approach with your team, the beneficial components of an external financial review are retained, while procedures of lesser value are eliminated or replaced. As a result, external audit resources and your leadership team’s time and effort are allocated to areas providing the highest perceived value.
The Checkup includes an assessment of controls over such areas as:
- Handling cash and bank accounts
- Recording contributions and tracking donor restrictions
- Writing checks and paying expenses, including payroll
- Options for recording fixed assets and related debt
- Board, staff and congregational reporting
- Information security and confidentiality
Depending on the level of service you desire, we can go deeper and perform other procedures such as:
- Transaction testing for compliance with your policies
- Design of your general ledger chart of accounts and management reporting process
- Accounting for capital campaigns and building expansions
- Defining the roles of your key financial team members, including Treasurer and finance committee members
Contact us to learn more about the pro’s and con’s of the different audit alternatives. You may also read our Resources article, “Differences Between Agreed-Upon Procedures and a Full-Scope Audit/Review”. Together we can design an approach that provides the most value for your organization.