Helping Nonprofits Achieve Their Mission

PROBLEM

Many nonprofit clients have challenges with segregation of duties due to budget constraints. This makes having effective controls more challenging and can result in unwanted findings during an audit because often it is not cost-effective to hire a CPA and the necessary bookkeeping staff. One such nonprofit had annual audits performed but did not have the full-time staffing to have the amount of segregation of duties that was desired. They also wanted assistance with general accounting issues as they arose, such as reconciliations and an experienced CPA to assist with financial reporting and more complex transactions or reporting issues.

SOLUTION

In this case, we had a diversity of resources including staff with bookkeeping, assurance, and tax experience to accomplish the organization’s accounting needs. To hire staff with all the skills needed would not be cost-effective, so this provided a more cost-effective solution.