If you own or operate a nonprofit company or church, your state may require you to have a certified audit of your institution. Certified audits are a way to protect public trust in many nonprofit organizations. The IRS doesn’t require certified audits, but they are mandated by Attorney Generals of many states. But even if you aren’t a nonprofit or a church, a certified audit gives you a snapshot of your organization’s financial health.
Miller & Company delivers trust and transparency with every certified audit. We are NY Certified Public Accountants, a top rated CPA New York firm.
Some states require a certified audit for specific conditions, such as when your organization has received:
Your institution can incur penalties from these states if you do not comply with these rules. You must send the results of a certified audit if your state requires it. Penalties include losing your right to solicit funds in your state. Certified audits are generally kept on file at your state’s Attorney General’s office.
A certified audit is a procedure for reviewing your organization’s state tax return, including the income and expenses. The experienced certified public accountants at Miller & Company with office locations in NYC and Queens provide their professional opinion on whether your financial statements match up with the financial position of your institution. Your financial statement includes the statement of activities, statement of financial position, cash flow statement, and any notes that pertain to those statements.
Accounting firms like Miller & Company are qualified to assess your company’s finances. They follow auditing standards to test and analyze your financial records and accounts. The best rated CPAs in NYC at Miller & Company perform your certified audit according to these strict standards.
If your organization has voluminous transactions, it may not be possible for a qualified accountant to test them all or to be completely knowledgeable of all your company’s activities. If this is the case, your CPA checks a random sampling of your transactions and then presents a statement attesting that they are reasonably assured that your financial statements are accurate. While no CPA could say definitively that your financial statements are perfect in this instance, it’s safe to say that your financial position seems to be fairly represented by your financial statements.
Call Miller & Company at 718-767-0737 to find out if your organization needs a certified audit. A personal, top NYC CPA can answer your questions while asking several — all in service to help you make the correct decision. When you call, be ready to answer several questions, such as:
When your organization reaches a certain size, you’ll find many reasons to get a certified audit. It’s unavoidable. With smart planning, you can anticipate the requirement for an audit and build the cost of a certified audit into your budget.
Not all institutions in the Manhattan and New York City metropolitan area require a certified audit, so if you’re unsure, consult with Miller & Company for answers and a path toward financial success. During the process of determining if you need an audit, your CPA ascertains whether you need other accounting services. This isn’t a sales technique; it’s a way to find other important tools to help you sustain the growth that you’ve worked so hard to achieve.
It may seem on the surface that others — bankers, investors, donors and accountants, for example — benefit from a certified audit. But your organization benefits too. Having a certified audit done can:
Do you have questions about services we offer including Certified Audit in NYC and Long Island? Would you like to receive a personal Certified Audit consultation customized to your specific needs? To schedule an appointment with a nationally recognized, top New York accountant, Paul Miller of Miller & Company LLP firm, please contact our Long Island or NYC tax accountants for a FREE CPA consultation.
|Queens CPA Firm
Miller & Company LLP
Paul Miller, CPA (Queens Certified Public Accountants)
141-07 20th Ave, Suite 101
Whitestone, NY 11357
☎ (718) 767-0737
|Manhattan CPA Firm
Miller & Company LLP
Paul Miller, CPA (NYC Certified Public Accountants)
274 Madison Avenue, Suite 402
New York, NY 10016
☎ (646) 865-1444