Assemble the records and reconciliations an auditor will ask for, and fix what preparation surfaces, so the examination is smooth and the findings are few.
In Get Ready for and Survive an Audit, once you have an audit or review to prepare for. Mark each item ready, missing, or a problem to fix.
| Item | Ready / Missing / Problem |
|---|---|
| Reconciled financial statements for the period | |
| Bank and investment statements, reconciled | |
| General ledger and supporting detail | |
| Records behind restricted funds: money in, spent on purpose, remaining | |
| Board minutes for the period | |
| Adopted policies, including conflict-of-interest disclosures | |
| Filed annual return and registrations | |
| Grant and contract agreements and their financial reports |
A problem you find and fix in preparation is far better than one the auditor finds. The goal of readiness is not to hide problems but to catch and fix them first.
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