Financial Tips of the Month

What is An Audit. Compilations, Review Eng and Audits

Audits are a key part of any Canadian charity’s risk management program because they provide valuable accountability, transparency, and assurance. An annual audit provides important and regular feedback to the charity’s management, board, and donors. So, what is an audit? An audit is an official examination of financial and operational records. This examination is usually done by a third party; someone not involved in preparing the books and records, or financial statements.

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