1 / 7

Non Profit Audit in Norfolk, Virginia | VIRTUAL

Additional services such as non profit audit, IRS audit representation, business consultant etc are provided to client at an reasonable cost. Call now.

hnweb
Download Presentation

Non Profit Audit in Norfolk, Virginia | VIRTUAL

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Few things about non profit Audit Virtualaccountingnadtax.com

  2. Few things about non profit Audit Not every charitable nonprofit is required to conduct an independent audit. Some nonprofits, because of the size of their annual budgets, or because of the sources of their funding, are required by state or federal law to conduct a non profitaudit. Some private foundations may require or expect a nonprofits grantee to conduct an independent non profit audit. A few states have laws that require nonprofits that receive a certain level of state funding to submit independent non profitauditsto the state agency that provided the funding or to other state agencies.

  3. If your non profit receives any government funds --state or federal -- it is always a good idea to determine whether there is an accompanying audit requirement. • Some state government contracts may require an audit; there is a federal requirement to conduct an independent audit if the non profit expends $750,000 or more in federal funds in a single year.

  4. Many states (26) require charitable nonprofits to submit a copy of audited financial statements in conjunction with the process of registering the charitable non profit so that it is able to lawfully engage in fundraising activities in that state (commonly known as "charitable registration"). • Twenty-six states have laws requiring charitable nonprofits to conduct an independent audit under certain circumstances.

  5. In some states the threshold of contributions or income received that triggers the independent audit requirement is relatively low; in other states the threshold is higher. • Twenty-four states also require annual submission of audited financial statements in connection with renewal of charitable registration.

  6. Non profit Audit Guide provides links to the state laws that address audits so that you can determine what your state requires. • You can find various companies doing non profit audits in Norfolk, Virginia. • VIRTUAL accounting and Tax is one of such companies in Norfolk, Virginia.

  7. Contact US: Website: Virtualaccountingandtax.com Email: info@virtualaccountingandtax.com Mobile No:1 (888) 609-0997

More Related