The audit committee is generally responsible for selecting an independent auditor and overseeing the audit process, as well as reviewing financial information and monitoring compliance with the organization’s fiscal policies.
Does your organization really need an expensive audit? You might be surprised to find that some grantors, funders, and financial institutions are willing to accept a financial statement review instead.
There aren’t many people who would call an audit “fun”…but there are certainly some steps you can take to ensure your organization has a relatively quick and painless audit experience.
