Whether your nonprofit uses cash basis or accrual basis accounting can affect the likelihood that your financial statements will need to be adjusted at year end.

Audits are critical to reassuring financial supporters of your nonprofit’s fiscal responsibility. But the work doesn’t end when the auditor leaves. You need to review the audit report and possibly take action.

Drawing a line between employees and contractors requires nonprofits to use their judgment. Getting it wrong can result in penalties and other costs, so take steps to get it right.

If your nonprofit operates in or serves clients in a disaster zone, you know how difficult the recovery process can be. Unfortunately, fraud perpetrators attempting to profit off the misery of others can make rebuilding difficult. Construction fraud is particularly common. If you have damage, be sure to work with your insurance company, carefully vet potential contractors, ask for proof of insurance, put everything in writing and don’t pay for work until it’s completely finished. Also watch out for fake relief workers. Real FEMA officials will never ask for payment. Contact us with questions.