Your annual audit should not be something you dread.
With LBW, your annual audit will not just be about ticks and crosses, we’ll help you improve internal processes and controls, increase efficiency and do it in a manner that is as pain-free as possible.
LBW are blessed to have auditors that have all sat on committees for various not-for-profit club’s and associations. We know how they work, and we know what makes them work best.
We believe an audit should address:
- Efficiency – Most committees are made up of volunteers. If this is you, I bet you don’t want to be spending your spare time reconciling bank accounts or adding up invoices. The systems you implement need to be quick, easy but still provide the detail you need to satisfy your audit and reporting requirements.
- Internal processes – The day-to-day processes of your organization is key to accurately recording information, and doing it in a way that is transparent and easy to follow. If your processes are faulty, it’s likely the end result will be too.
- Internal controls – Your organization’s controls are what protects the people responsible for completing particular roles. For instance, is the same person collecting cash also the one responsible for banking and recording it? This would be an example of poor internal control. Good controls make your organization more resistant to fraud, theft and people pointing the finger at you when things go bad.
If your current audit function is not improving your organization, speak to LBW today.
Below are the entities we typically provide audit services for.
Real Estate Trust Accounts