Bylaws often mandate that organizations undergo periodic assurance services such as audits, reviews, or compilations. This requirement ensures that the organization adheres to its governance policies and maintains financial integrity. Annual audits or reviews provide stakeholders with confidence that the financial statements are accurate, and that the organization is operating effectively. Hood CPAs offer tailored audit services to meet the specific needs outlined in your bylaws, ensuring compliance and fostering trust among members and stakeholders. 

Many grantors, lenders, and donors stipulate that organizations must undergo assurance services as a condition of funding. This requirement is put in place to verify that funds are being used appropriately and as intended. Financial statement audits and reviews conducted by Hood CPAs provide assurance to these funding sources that the financial activities of the organization are transparent and well-managed. Meeting these requirements can also enhance an organization’s credibility and ability to secure future funding. 

Organizations may request assurance services during transitions in key staff or personnel to ensure the continuity and accuracy of financial activities. Staff changes, especially in financial roles, can pose risks to financial integrity. Conducting an audit or review during these times helps identify any discrepancies or irregularities and ensures a smooth transition. Hood CPAs provide comprehensive audit services that offer peace of mind during periods of change, helping maintain financial stability and accuracy.