About this time every year, we have the opportunity to welcome our friendly auditors from Dana Cole. I’m very sincere when I say opportunity because that’s exactly how we think of it. Simply put, when applied to an organization’s financial statements, the audit tests the accuracy of the financial information presented by that organization’s management. The audit first focuses on the organization’s internal controls such as management system practices and documentation. If the auditor finds that the financial statements are fairly stated in accordance with appropriate accounting standards, the auditor will certify the financial statements and issue an unqualified audit opinion. If changes need to be made the auditor will work with the organization to recommend and make the necessary changes. We believe that it is so important to be proactive and to have an external review assuring our board members, donors, and the community of the organization’s transparency and sound financial management.
Friendly Auditors
I have to give credit where due because the job of an auditor would not be for me. These ladies have been in my office since 9 a.m. diligently pouring over files. I’d also like to give a shout out to Jennifer from Erickson & Brooks in Fremont who does our compilation and pre-audit prep, and of course to our own Kim Taylor who does an amazing job managing the administration of our accounts alongside her other responsibilities.
As friendly auditor Kerry told me today, “It’s much better to invite us in, than to have have us show up when the State or IRS calls!” Amen.
