Not for Profit Accounting Audits

Not for Profit Accounting Audits

Respond to the following in a minimum of 175 words:

· Discuss the ways a not-for-profit organization should prepare for an external audit.

· Discuss which charitable not-for-profit organizations are required to have an independent audit and which authority requires the audit.

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Ways for preparation of an audit
Having an internal audit before the central audit: This is an audit carried out by the internal auditors of the company. It serves as a comparison and provides estimates of what is expected in the primary audit.

(237 words)