Your nonprofit organization can use a trusted second opinion to confirm the accuracy of financial statements. Not only is it important to comply with regulations implemented by the Securities Exchange Commission (SEC), but hiring a firm to provide accurate professional broker dealer audit services also helps your nonprofit organization remain financially viable.
At Ernst Wintter & Associates (EWA), our team of Certified Public Accountants (CPAs) provides a wide variety of broker dealer audit services to help nonprofits remain ahead of state and federal regulators, as well as maximize the use of financial resources. Our broker dealer audit services ensure your organization navigates through the often complex set of laws that govern operations.
Why Does Your Nonprofit Organization Need Broker Dealer Audit Services?
The result of an audit reveals whether your nonprofit must address one or more financial issues that place your organization in financial harm’s way. However, the CPAs at EWA operate with a much more proactive approach to providing broker dealer audit services.
Evaluate Financial Statement Disclosures
As with any type of nonprofit, your organization is required to submit accurate financial disclosure statements for state and federal regulators to review. If you send inaccurate financial data, or worse, forget to submit the proper documents on time, you run the risk of losing your tax-exempt status. EWA helps nonprofit organizations file accurate financial disclosure statements long before the deadline by following Generally Accepted Accounting Principles (GAAP).
Confirm Sources of Revenue
Nonprofit organizations depend on the generosity of donors. To convince donors to contribute financially, nonprofit organizations must open their books to present financial information. Before your nonprofit organization opens its books, you want to verify every last source of revenue. A comprehensive audit of your nonprofit organization’s revenue sources goes a long way toward convincing more donors to support your mission.
Account for Every Account Payable
One of the most common mistakes made by nonprofit organizations concerns not accounting for every bill. EWA conducts broker dealer audits that reveal every account payable to ensure your nonprofit organization is never confronted with surprise bills. Because you operate on a razor-thin budget, any unexpected bills can cause your nonprofit organization to close operations if the financial loss is substantial enough.
Comply with Regulations
Government regulations require nonprofit organizations to complete several steps that validate financial information. With the support of EWA, your nonprofit complies with every government regulation, as well as files documents before deadlines. The penalties for not complying with government regulations range from as light as paying a fine to as severe as having to shut down your organization.
The Bottom Line: Professional Dealer Audit Services Keep Your Business Accounting on Track
Now that you have enlisted the help of EWA to provide the best broker dealer audit services, has your nonprofit organization completed its goal of ensuring financial accuracy and government regulatory compliance? The answer is no because you still have to complete a few additional steps.
First, review the draft presented by EWA concerning the financial status and regulatory compliance of your nonprofit organization. Second, immediately address every accounting issue to bring your nonprofit organization in line with the Generally Accepted Accounting Principles. Third, present the results of the audit to the board of directors.