By Donald Cassady, President/CEO, GMS, Inc.
Those of you in the fiscal department of a not-for-profit organization are aware that in most circumstances an annual or bi-annual independent audit is required as a result of OMB Circulars and/or specific funding sources.
Unfortunately the term “Audit” seems to have a negative meaning associated with it. Of course there are times when an audit is required due to things such as misappropriation or bad management; however, those cases represent an incredibly small percentage of audits performed.
Unfortunately the term “Audit” seems to have a negative meaning associated with it. Of course there are times when an audit is required due to things such as misappropriation or bad management; however, those cases represent an incredibly small percentage of audits performed.
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