Keeping Your Books Audit Ready
For arts managers outside the finance team, the idea of an audit may seem either terrifying or mundane. Even some inside the finance teams, of organizations of all sizes, the annual external audit process can consume a significant portion of staff time and mental energy for several months of the year. The external audit process results in a document known as the audited financial statements, which provides a professional opinion that the organization’s accounting records are clear of misstatement. Institutional funders, charity watchdog agencies, and other entities look to this document for … Read more