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When it comes to Federal Single Audits , nonprofits often make costly mistakes that lead to compliance issues, financial weaknesses, and material deficiencies. Below, we break down the top audit findings and what nonprofits need to know to stay compliant. Make sure your documentation is complete.
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And ensuring compliance with global reporting standards is what keeps that lens clear, trusted, and investment-ready. Its not just about avoiding penalties or surviving the audit. This is where the difference lies between compliance that ticks a box and compliance that builds a reputation. They are champions of clarity.
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If the scandal involved misreporting, aggressive accounting policies, or deliberate manipulation of results, the damage to the organisation’s credibility will be severe. This includes restating prior-period financials where necessary, strengthening internal controls, and ensuring that audit findings are addressed in full.
Government regulations are tightening, and donors are demanding more accountability. From federal grant compliance to donor transparency expectations, nonprofits must meet a growing list of financial integrity standards. This not only builds trust but also prevents ethical and compliance issues that could put your funding at risk.
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Asset acquisitions, market entries, and decentralised operations demand more than technical expertise, as they require navigation around fragmented regulations, cultural complexities, and resource constraints while ensuring agility and compliance. Serve as a liaison between sales and compliance teams," Kozlov says.
Compliance and Regulatory Requirements One of the most significant impacts of receiving federal funding is the increased scrutiny and compliance requirements. Organizations that expend over $750,000 in federal funds (increasing to $1 million in 2025) are subject to a single audit.
Editors note: In todays A Day in the Life , Nguyn Trung Ngn (pictured), tax senior manager at Deloitte Vietnam , shares with FutureCFO audiences how leading a complex transfer pricing audit for a multinational client became pivotal for her career and how her passion for public writing became one of her greatest sources of inspiration.
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