Fear and Loathing in the Auditing Process; What Every Nonprofit Should Know

PROVIDENCE, Rhode Island – Audits are costly, time-consuming and difficult to navigate. Nevertheless, they are often required by funding sources, the government, or requested by nonprofit boards.

For the nonprofit sector, it is critical to know when an audit is needed and what options exist. There may be alternatives that are less costly and invasive. For example, some funding sources may accept “reviewed” or even “compiled” financial statements.

On Wednesday, August 15 from 11:30am – 1pm, Richard M Streitfeld, CPA, CFE, a partner with Aaronson Lavoie Streitfeld Diaz and Company (www.alscpa.com), will present “Fear and Loathing in the Auditing Process; What Every Nonprofit Should Know” as part of an ongoing RCC Lunch & Learn Series.

Attendees will learn when a nonprofit becomes required to submit the daunting “A-133 audits”; the confusing Rhode Island regulations on audits; how to choose an accountant; and how to get books ready for an audit and make the audit go more smoothly. Streitfeld will also discuss the auditor’s responsibility for detecting fraud.

Streitfeld joined ALSD in 1992 and became a partner in 1998. A graduate of Boston University, he directed an international non-profit and is also a Certified Fraud Examiner. The firm’s clientele encompasses over 150 non-profits and nearly 1000 individuals and for-profit businesses, mostly in Rhode Island and Southeastern Massachusetts. Visit Rich Streitfeld’s blog at www.peaceloveandbusinessplanning.com.

This free event will be held at RCC headquarters at 40 Nashua Street in Providence. Seats are limited. To reserve your spot, contact Ben Hall at ben@rcc-pcsupport.com or call (401) 272-9262, ext. 114.

About RCC (www.rcc-pcsupport.com)

RCC is the network guardian for businesses and organizations throughout Rhode Island, Southeastern Massachusetts and Eastern Connecticut. Acting as, or in support of, an in-house IT department, RCC resolves network issues prior to failures or disruptions and provides recommendations for equipment purchasing, hands-on software and hardware installation, staff training, technology plan development, troubleshooting and IT assessments. Join RCC on Facebook or follow on Twitter @RCC_IT.

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Avatar About the Author: The Rhode Island Small Business Journal is a printed monthly magazine and an online resource for the aspiring and start-up entrepreneur and small business owner.

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