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Difference between revisions of "Non-Profit Audits and Auditor (Societies Act FAQs)"
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Non-Profit Audits and Auditor (Societies Act FAQs) (view source)
Revision as of 18:10, 13 May 2021
, 18:10, 13 May 2021→Who can be an auditor?
(Created page with "{{Societies Act FAQs TOC}} ===Do we need to hire an auditor?=== Unless required by the bylaws, most non-profits will not need to have their accounting records (aka the “Book...") |
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===Who can be an auditor?=== | ===Who can be an auditor?=== | ||
Only individuals who are chartered professional accountants (CPAs) or firms whose members are CPAs may be appointed as auditors of a non-profit. In addition, the auditor must be independent from the non-profit. Among other things, | Only individuals who are chartered professional accountants (CPAs) or firms whose members are CPAs may be appointed as auditors of a non-profit. In addition, the auditor must be independent from the non-profit. Among other things, ‘'independent'’ means the auditor cannot be a director, senior manager, or employee of the non-profit. The auditor also cannot be a partner of, be related to, employ, or be employed by a director, senior manager, or employee of the non-profit. | ||
===What is a review engagement?=== | ===What is a review engagement?=== | ||