When searching for an accounting firm to outsource your nonprofit's financial management, look for one with extensive experience in nonprofit accounting and tax compliance. The ideal candidate will have a deep understanding of the complexities of nonprofit accounting and be able to effectively communicate with you about your unique financial needs and goals. This will help ensure that your nonprofit remains in compliance with all tax laws and regulations.
A proper internal control system is essential to running a viable, profitable business, whether you’re a public or private entity. Internal controls are the policies and procedures that help you manage and mitigate the financial and operational risks that can hinder your goals. Internal controls also ensure your financial data is accurate, reliable, and timely—so you can make informed decisions that optimize opportunities and build value.