What are the requirements for a charity audit?

What are the requirements for a charity audit?

Charity audits typically require financial statements, internal controls documentation, and compliance with relevant laws.

Do all charities need to undergo an audit?

Not all charities are required to undergo an audit; it often depends on their size, revenue, and state regulations.

What documents should I prepare for the audit?

You should prepare financial statements, tax returns, donor records, and any contracts or agreements.

How often should a charity be audited?

Most charities are audited annually, but smaller organizations may only need to be audited every few years.

Can I conduct the audit myself?

While you can perform a self-audit, it's recommended to hire a certified auditor for an objective assessment.