Find a Nonprofit Auditor

What Does a Nonprofit Auditor do?

When should you perform a nonprofit audit?

A nonprofit audit should be performed when your organization wants to receive additional funding from the government, investors, and shareholders.

Performing an audit ensures that your organization is more transparent about how it spends its funds. Conducting an audit can be useful for ensuring that fraud is not occurring within the organization.

However, not every charitable nonprofit requires an audit. Despite not being required to conduct an audit, nonprofits should still consider doing so to ensure their financial records and internal controls are up-to-date and to identify potential areas for improvement.

How much does an audit cost for a nonprofit?

Independent audits vary in cost based on the organization's size and location. For large nonprofits in urban areas, audit fees can exceed $20,000. Even a small nonprofit can expect to pay $5,000- $10,000 for an independent audit.

The process of independent auditing is time-consuming. It usually takes 4 to 12 weeks to choose an independent auditor, 2 to 4 weeks to prepare for the audit, and 2 to 4 weeks to conduct the audit.

Our goal at Ageras is to help you find a nonprofit auditor at a price you think is fair, and when you receive quotes from us, you are able to compare what each auditor charges.

What are the 3 types of GAAS?

Generally Accepted Auditing Standards (GAAS) is a method for auditing private companies. Nonprofit organizations are classified as private companies unless they can prove that they are public charities. Auditors' reports and actions are made more accurate, consistent, and verifiable when GAAS is followed. 

There are three main categories in GAAS: general standards, standards of fieldwork, and standards of reporting. 

What happens during a nonprofit audit?

During a nonprofit audit, independent auditors would thoroughly ask questions to gain a better understanding of the business, its operations, financial reporting, internal control system, and known fraud.

Additionally, the auditor observes the organization's physical inventory count and confirms accounts receivable and third-party accounts. In the end, the auditors would write a report which can be categorized into:

How to find a Nonprofit Auditor?

Finding a Nonprofit Auditor with Ageras

Making sure your finances are properly optimized by a professional with experience in your field is a worthwhile investment. Ageras can help you find an expert in the field you need. We have contacts with auditors from around the country with a wealth of skills. We will find the right expert for you.

Start the search for the perfect auditor with Ageras. Filling out our form takes only a few minutes, and you can have your answer in no time. It is free, non-binding, and fast. Let Ageras ease your mind, and let us help you with the look for an nonprofit auditor.