Audit Policy Template for your Nonprofit Organization

Audit Policy Template screenshot

Free Download: Audit Policy Template

The Audit Policy template for nonprofits offers a well-structured process for conducting both internal and external audits. It gives an overview of how these audits should be performed, frequency, and how to handle the findings. The policy aims to ensure the organization's adherence to laws and regulations, enhance the reliability of financial reports, and promote good governance and risk management. Additionally, it provides guidelines for preventing, detecting, and addressing any fraudulent activities or irregularities, making it an indispensable tool for maintaining financial integrity and accountability within a nonprofit organization.

The policy is comprehensive, covering the specifics of internal and external audits, including frequency, conduct, and reporting of results. It lays out the selection process for external auditors and the responsibilities of the internal audit team. Furthermore, the policy details how findings from audits should be handled, emphasizing prompt investigations and the implementation of corrective actions under the Board of Directors' oversight. Confidentiality, record keeping, and regular policy review protocols are also clearly outlined. This document serves as a roadmap for nonprofits to effectively manage audits and bolster their governance structure.

Talk to an expert

For bookkeeping and accounting support beyond these templates, get in touch with the Jitasa team.

Request a Quote

Additional Resources

If you’re interested in investing in a trained accountant to help your nonprofit ensure transparency and accountability in finances, conduct your research. Here are some additional resources you can look into for more guidance:

Working With a Nonprofit Accountant: What to Expect

Working with an accountant can help your organization develop an effective budget. Read more about what an accountant can do for you in this comprehensive article.

What to Expect

Bookkeeping and Accounting for Nonprofits

Looking to hire or outsource a finance team? Learn more about both bookkeeping and accounting for nonprofits, specifically about the difference between them.

Jitasa’s Services

Top 10+ Outsourced Nonprofit Accounting Firms

Working with an accountant specifically dedicated to nonprofits is important for developing a well-informed nonprofit budget. Learn more about Fundly’s top ten picks for outsourced firms.

Read Post