• Effective Audit Committee Guide

Illustrative Audit Committee Charter

The following is intended as an example to assist the audit committee in constructing its own organization-specific charter that will be used as a working document or practical roadmap to outline its responsibilities and required duties. 

Model Audit Committee Meeting Agendas

The following Model Audit Committee Meeting Agendas suggest the timing, objectives, specific actions to be performed, and communications to be made to the board for certain audit committee meetings. 

Sample Audit Committee Questions to Ask of Auditors and Management

To assist the audit committee in performing its duties, the following is a list of questions it may ask the auditors and management in the context of periodic discussions.

Other Questions an Audit Committee Should Ask

Following are examples of questions which may be asked by an audit committee of management, other board members, or the external or internal auditors.

Signs Which May Indicate Financial Trouble For Nonprofit Organizations

Signs that indicate financial trouble include: community support, financial independence, productivity, deferred current costs, and management practices. 

Audit Committee Self-Assessment

This Audit Committee Self-Assessment document may be used by those charged with governance (in particular, audit committees) in performing an annual self-assessment. 

Auditor Required Communications with Audit Committees

The guidance covering these requirements is located in the following four sections of the revised AICPA Auditing Standards (SAS) Codification – Post Clarity (subsequent to the Clarity Project).

Strengthening Governance: Effective Mechanisms for Reporting, Investigating and Remediating Fraud

There are numerous resources available that guide those charged with governance toward building programs to include anti-fraud controls and cultivation of anti-fraud environments.

Foreign Corrupt Practices Act

The FCPA of 1977, as amended, has been the recent focus of U.S. DOJ and SEC Enforcement and has resulted in significant risk and penalty/violation costs to companies, not to mention the exposure of directors to personal liability.

Benchmarking Tool

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Contacts

William Eisig Atlantic Managing Partner 703-336-1401
Laurie De Armond
Laurie De Armond Managing Partner and National Co-leader 703-336-1453
Adam Cole
Adam Cole Partner and National Leader 212-885-8327
Lee Klumpp
Lee Klumpp National Assurance Partner – Nonprofit & Government 703-336-1497
Tammy Ricciardella Technical Director 703-336-1531
Marc Berger - BDO Greater Washington, D.C.
Marc Berger National Director, Nonprofit Tax Services 703-336-1420
 
Patricia Duperron National Assurance Practice Director-Governmental 616-776-3692
Andrea Wilson - BDO McLean
Andrea Wilson Partner; Nonprofit & Education Advisory Services Leader 703-752-2784
Susan Friend
Susan Friend National Assurance Director - Nonprofit & Government 954-626-2964
See all contacts

Nonprofit Standard Newsletter

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We Wrote The Book

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How to Read Nonprofit Financial Statements: A Practical Guide is a key resource that will help you read, interpret, and use nonprofit financial statements.
 

Video Series: Nonprofit Voices

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Benchmarking Tool

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Events

June 27, 2019
Please join BDO USA, LLP for our next session of the 2019 BDO KNOWLEDGE Nonprofit and Education Webinar Series, "What You Need To Know About The New Lease Accounting Standard."
September 24, 2019
Information Technology is a rapidly evolving space that organizations can leverage to be a business enabler. However, the evolution of Information Technology has also brought with it increased risks and regulatory requirements.