What do you actually get in an audit?

Summary:

This page from the Canadian firm AssociationXpertise explains: http://www.axi.ca/tca/Sep2002/tca04d.htm

Funders and regulators often require audited financial statements for nonprofit organizations. What does this mean, actually?

"The association's auditor is basically selling confidence in the financial information that is being presented. Financial statements contain essential information for the decision-making of many stakeholders--including members, directors, employees, funders, bankers, creditors and government."

For the rest of the article, see http://www.axi.ca/tca/Sep2002/tca04d.htm.

Thanks to Wayne Amundson, CMA, CAE, President of
Association Xpertise Inc., for calling attention to this resource.

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