The Charity CFO

NOVEMBER 30, 2023

Does the idea of an audit from the IRS leave you with sweaty palms? Most nonprofit leaders aren’t accountants and the thought of getting audited is a sizable fear. Luckily, being prepared can help you avoid accounting mistakes that could come up in a nonprofit audit. These penalties can be crushing for nonprofits.

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Nonprofit Auditing Compliance Education 52

E78 Partners

SEPTEMBER 21, 2023

Audits, while essential for maintaining the integrity and trustworthiness of an organization’s financial reporting, can be a daunting task. This article will delve deeper into five preparation steps, drawing from insights of our leading industry experts, to help your organization gear up for a successful audit.

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Auditing General Ledger Reconciliations Accounting Standards 52

The Charity CFO

DECEMBER 30, 2021

Contrary to what many people envision, a nonprofit audit doesn’t usually start with a letter from the IRS. Instead, an independent nonprofit audit is something you choose to build trust in your nonprofit organization. An audit can be a critical step for a growing nonprofit that needs to raise increasing amounts of funds.

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Nonprofit Auditing GAAP Accounting Principles 98

https://trustedcfosolutions.com/feed/

FEBRUARY 9, 2023

Getting audited isn’t something businesses look forward to. Audits cost your business hundreds and thousands of dollars, taking up countless hours researching transactions and data logs, or painstakingly tracking down supporting documentation. Here’s how: Next-Level Efficiency: Streamlining the Audit Feel prepared for your next audit.

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Auditing CFO Compliance Accounting 57

CFO News

MARCH 3, 2024

The National Financial Reporting Authority (NFRA) plans to conduct annual inspections of major audit firms to ensure compliance with standards and protect investors.

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Auditing Compliance Financial Reporting Planning 52

Boston Startup CFO

APRIL 12, 2024

409A / Valuations Leveraging our expertise and industry knowledge, we will conduct thorough assessments to determine the fair market value of your company, ensuring compliance with regulations and helping you make informed decisions related to stock options, equity compensation, and financial reporting.

Corporate Finance 40

Corporate Finance Finance Auditing Compliance 40

Future CFO

JUNE 15, 2021

While 62% of organisations expect external audit fees to rise this year, they could combat this by automating their internal controls, said Gartner recently when releasing results of a survey of 166 publicly traded and privately held external audit firm clients across industries in March-April of 2021.

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Auditing Financial Reporting Finance Investments 52

Future CFO

SEPTEMBER 14, 2020

Given that auditors are required to offer unbiased opinions about the financial statements of companies that they audit, the lack of auditor independence can severely compromise the quality of the auditors’ work. . This should improve the overall quality of the audit. These lower costs benefit both parties.

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Auditing Accounting Valuation Education 52

CFO Plans

MAY 2, 2024

Whether you need outsourced bookkeeping services or advanced financial reporting, your partner should be able to accommodate your needs without disruption. Regular meetings, clear reporting, and a dedicated point of contact will ensure that you stay informed and aligned with your financial goals.

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Accounting Problem Solving Compliance Communication 52

Beacon CFO Plus

NOVEMBER 30, 2023

Define Roles and Responsibilities: The CFO typically focuses on financial strategy, planning, and management, while the accounting firm handles compliance, audits, and financial reporting. The CFO should work closely with the accounting firm to provide the necessary information for audits and reporting.

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Accounting Firms CFO Accounting Prioritization 52

CFO Leadership

OCTOBER 10, 2023

AI driven automation is expected to extend to more complex tasks such as, audits, risk management, and financial planning and analysis. As AI permeates finance, questions about its compliance with audits and financial governance will arise.

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Finance Accounting Auditing IFRS 95

Future CFO

MAY 5, 2024

CFOS can do this by taking steps in their organisations to manage the associated risks with AI, as it plays a greater role in the accounting and financial reporting of businesses. Financial leaders and controllers will have to be confident about the adequacy of oversight and controls of AI systems.

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Risk Management Leadership Auditing Finance 52

Future CFO

NOVEMBER 2, 2020

China is the most complex jurisdiction for financial compliance in Asia Pacific while Hong Kong is the easiest, said TMF Group recently. For example, 70% of jurisdictions in South America mandate electronic transaction reporting, yet this is only the case for two jurisdictions in APAC (15%) – India and South Korea.

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Compliance IFRS GAAP Accounting Principles 40

Future CFO

DECEMBER 7, 2023

When selecting assurance providers, check, among other criteria, their credentials, competence over relevant sustainability-related matters and connectivity to financial information, experience, and compliance with regulation and code of ethics.

Accounting 52

Accounting Auditing Compliance Financial Reporting 52

Future CFO

MAY 2, 2024

The third annual 2024 ESG Practitioner Survey polled more than 2,000 people involved in corporate reporting, including finance and accounting, sustainability, risk, and internal audit professionals across North America, Europe, and Asia. “The Assured integrated reporting is about more than compliance," says Volpe. "It

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Compliance Auditing Budgeting Leverage 52

The Charity CFO

DECEMBER 8, 2022

Because accurate nonprofit accounting can help with reporting and auditing requirements, and ensure that the funds are being used in accordance with the grantor’s wishes. Doing this ensures that you can demonstrate compliance with grant requirements and provides a clear audit trail for any future reviews.

Accounting 52

Accounting Nonprofit Auditing Compliance 52

Future CFO

MAY 31, 2023

Technology has made financial reporting easy for everyone involved in the process, from the finance and accounts team preparing reports to the regulators, investors, and others who use those reports. That said, technology is only one aspect of the reporting process. in 2023 while Europe and the U.S.

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Finance General Ledger Prioritization Auditing 98

VCFO

FEBRUARY 15, 2023

She is highly effective at executing finance function strategically, establishing financial and risk controls, and overseeing capital structure. Lee Ann’s depth and breadth of expertise includes board reporting, audit preparation, business plan development, market research and analysis, risk management, and capital requirements.

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Auditing CFO Risk Management Budgeting 52

CFO Leadership

OCTOBER 18, 2023

AI driven automation is expected to extend to more complex tasks such as, audits, risk management, and financial planning and analysis. As AI permeates finance, questions about its compliance with audits and financial governance will arise.

Finance 52

Finance Accounting Auditing IFRS 52

The Charity CFO

APRIL 13, 2023

In order to successfully manage the financial health of your nonprofit organization, here are 7 key concepts you should understand: Compliance and Audit Requirements Compliance is the act of ensuring the public that nonprofits are abiding by the rules that allow them to take advantage of tax exempt status and other financial incentives.

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Nonprofit Compliance Accounting Standards Budgeting 52

The Finance Weekly

JULY 28, 2022

One of Vena’s customers, , Verra Mobility , claimed that Vena misled them into believing that the Soc 1 Type II report that Verra was given had been audited by an independent auditor. This is a financial reporting tool utilized in performing certain control activities. Establishing Trust With SOC Reports.

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Auditing Compliance Budgeting Securities 52

The Charity CFO

APRIL 18, 2024

These challenges include financial issues, data security compliance, and talent retention problems. Financial Sustainability For nonprofits, financial sustainability means the financial security to cover expenses and advance your mission. Do You Struggle to Make Sense of Your Financial Statements?

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Nonprofit Compliance CFO Leverage 52

CFO News Room

DECEMBER 16, 2022

Financial managers are responsible for developing long-term financial plans, directing investment activities, and generating financial reports for their company. Employment numbers for Financial Managers are expected to rise by 17% over the next decade, faster than the average for all occupations. Budget Analyst.

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Finance Budgeting Compliance Financial Analyst 130

The Charity CFO

MAY 31, 2022

To fully grasp your nonprofit finances, you need to start to understand the major compliance requirements that impact your organization. . In most cases, these include an annual audit and federal tax return. Step #4: Never stop learning. Resources may include white papers, articles or blogs, and even online courses. .

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Nonprofit Finance Auditing Accounts Payable 98

The Charity CFO

JANUARY 11, 2023

Revenue recognition for nonprofits may seem fairly straightforward, but has unique complexities with important compliance consequences. All these sources must be carefully managed to ensure compliance with Generally Accepted Accounting Principles (GAAP) and guidelines. Undergo annual financial audits. Receive grants.

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Nonprofit GAAP Accounting Principles Auditing 52

Bramasol

JULY 22, 2023

This new update focuses on the progress of regulatory requirements and software solutions for tangible accounting and reporting of ESG, along with a look at how ESG management can help drive corporate value. The CSRD is part of the EU’s European Green Deal and the Sustainable Finance Agenda.

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IFRS Accounting SAP Compliance 87

Future CFO

FEBRUARY 11, 2024

62% of executives strongly agree their companies apply the same diligence to ESG reporting as they do to financial reporting. Our Board committee charters include responsibilities related to ESG oversight as applicable to each of our Audit, Compensation, and Nominating and Governance committees.

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Net Present Value (NPV) CFO Compliance Economics 98

CFO Talks

MARCH 20, 2024

Example: When it’s time for an audit, the Controller is hands-on, working directly with the auditors, showing them the books, and explaining the details. The CFO, on the other hand, talks strategy with the audit partner and handles any big issues that pop up.

CFO 52

CFO Accounts Payable Financial Analysis Auditing 52

The Charity CFO

MAY 10, 2022

But the deadline for making the changes has passed, and the FINAL deadline (for interim reporting periods) is coming up next month. So now is the perfect time to make sure you report in kind gift donations in compliance with GAAP standards in 2022. When do the changes to in kind gift reporting go into effect?

Accounting Standards 98

Accounting Standards Accounting GAAP Nonprofit 98

PYMNTS

JUNE 11, 2020

For those corporate clients, the pressure to remain profitable, grow and support shareholders — all while remaining compliant amid market volatility — is emerging as a major pain point for the chief financial officer. “All of this has come into play in the last couple of months.” It won’t be an easy accomplishment, however.

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Economics Accounting Auditing Forecasting 77

The Charity CFO

JULY 17, 2023

While this may be easy, it can also result in missing out on critical tax savings or, worse, exposing your organization to an audit for breaking the rules. Understand Compliance Needs Compliance is an often underrated key to a thriving nonprofit. Do You Struggle to Make Sense of Your Financial Statements?

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Nonprofit Benchmarking Auditing Compliance 52

Future CFO

MAY 1, 2024

As the person responsible for preparing an organisation’s financial reports, which include balance sheets and income statements, the role of a finance controller is anything but ordinary.

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Leadership IFRS Finance Communication 98

Future CFO

AUGUST 23, 2022

These days, at least in Asia, sustainability responsibilities appear to be more closely associated with a Chief Financial Officer (CFO). Lim opined that with the level of scrutiny over ‘non-financial’ and ‘financial’ reporting on the rise, corporates need buy-in and support from the Board to push the sustainability agenda.

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CFO Auditing Finance Treasury 98

The Charity CFO

APRIL 19, 2022

Red Flag #2: Hidden Compliance Issues. When most nonprofits think about ‘accounting issues,’ they’re concerned about poorly prepared financial reports, bookkeeping errors, gaps in communication with funders, bad audits and a million more things in this vein. DO NOT let compliance issues linger.

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Nonprofit Auditing Compliance Accounting 98

Future CFO

SEPTEMBER 7, 2022

The study identified additional skills required for preparers of financial reporting and assurance service providers. Examples of preparers of financial reporting include CFOs , finance managers, and internal auditors, ISCA said. . They will also be called upon to enhance internal processes, the organisation pointed out.

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Finance Auditing Corporate Finance Accounting 52

CFO Talks

SEPTEMBER 6, 2022

Welcome to this SAIBA CFO podcast, SAIBA is the South African Institute of Business Accountants, it has more than 12 000 members and specialises in a wide range of disciplines such as accountancy and tax, training and development, career enhancement, legislation, designations and financial reporting.

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Auditing CFO Leadership Math 52

The Charity CFO

DECEMBER 15, 2023

Not only does it help with transparency in your organization, but properly recording revenue keeps you in compliance with nonprofit regulations. Proper record-keeping for grant revenue is important to stay in compliance with rules for grant funding. Do You Struggle to Make Sense of Your Financial Statements? Get the free guide!

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Nonprofit Compliance CFO Valuation 52