Most recent peer review insights suggest that insufficient or inadequate documentation was the most common problem in not-for-profit audits, but better planning could prevent deficiencies.
Audit Requirements
A&A Focus recap: A&A risk, not-for-profit update, SQMS, and ERC
The April installment of the monthly newscast series covered topics ranging from current practitioner risks and the quality management standards to ERC considerations and a not-for-profit industry update.
Peer review findings in audits of not-for-profits: What auditors need to know
Experts suggest ways to prevent common problems such as inadequate planning and risk assessment and insufficient documentation.
Not-for-profit audits in a remote world, plus IRS news
Learn how the abrupt shift to remote work affected not-for-profit audits and how they’re coping now, plus the latest news, in this podcast episode with transcript.
Features
SPONSORED REPORT
Agentic accounting has arrived: What’s hype and what’s real?
Artificial intelligence (AI) is moving beyond chatbots and into accounting workflows. A new generation of agentic AI tools can plan, execute, and adapt as they complete tasks, raising expectations for what automation can do inside firms and finance departments. What can agentic AI realistically do today and what challenges are there in its implementation? Find out in this Journal of Accountancy sponsored report.
