Difference between revisions of "Non-Profit Audits and Auditor (Societies Act FAQs)"

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(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, ‘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.
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?===
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