Nonprofit Assurance Services

Financial Statement Audits

Your annual audit is one of the most critical processes your organization will undertake in testing the accuracy and completeness of information presented in your financial statements.

A high-quality audit can:

• ​Enhance the growth of your organization through collected and organized information.
• Help you gain public confidence.
• Provide an important checkpoint to help your organization safeguard against errors and deter fraud.

Marcum provides the experience you need to prepare a trusted annual Financial Statement Audit for your nonprofit organization.

OMB Uniform Guidance Audits

We keep our clients up-to-date on federal audit regulations.

Nonprofit organizations that expend $500,000 or more of federal awards in a year are required to submit an annual audit to the federal government, referred to as an OMB A-133 Audit.

Marcum makes this daunting task a little less daunting.

We work with our clients to fully comply with the requirements of the federal government to ensure fiscal integrity of your organization, the effectiveness of your internal controls and compliance with all terms and conditions of your federal grants.

Reviews & Compilations

You may not require a full audit, but regular reviews of your accounting statements and procedures helps to instill confidence.

When a financial statement audit or an OMB A-133 audit is not required, but your organization still seeks to provide assurance to your Board, your members or your donors, Marcum can work with you to perform Review & Compilation services in accordance with the Statement on Standards for Accounting and Review Services issued by the American Institute of Certified Public Accountants.

Marcum will work with your team to prepare meaningful financial statements that provide credibility and reliability.

Compilation and review engagements are similar to audit engagements in many ways. In all three types of engagements, the CPA performs certain procedures in accordance with professional standards before issuing a report on a set of client financial statements. The major difference between those engagements is the level of assurance the practitioner provides in his or her report.

Our reviews are conducted in accordance with attestation standards established by the American Institute of Certified Public Accountants.

Agreed-Upon Procedures

Sometimes clients need a review of their internal procedures to ensure their accounting practices and controls are producing the desired results.

For nonprofit organizations, this service can help determine compliance with regulatory requirements or may assist in developing the indirect cost allocation plan often required for grants and contracts.

Agreed upon procedures can be done for most anything and are highly customizable for whatever issues/objectives the client and their board have.

• ​Internal audit functions.
• Review of grantee expenses.
• Review of management expense reimbursement requests.
• Review of royalty contract arrangements.
• Review of third party internal controls, process and financial reports.