Non Profit Audit Services

Fontana CPAs, a Tampa, Orlando and surrounding area CPA firm, knows that donors, grantors and creditors often need assurance that the financial statements accurately represent the true financial position of a company. Your donors, grantors or creditors have different levels of risk tolerance, so we provide three levels of assurance to meet your needs.

Audit - Highest Level of Assurance

An audit provides the highest level of assurance. An audit is a methodical review and objective examination of the financial statements, including the verification of specific accounting documents and information as determined by the auditor or as established by AICPA professional standards.

Our work includes obtaining an understanding of significant internal controls, testing of selected transactions, and communication with third parties. Based on our findings and audit documentation, we issue a report on whether the financial statements are fairly stated and free of material misstatements.

An Audit allows you to...

• Satisfy donors and grantors as to the credibility of published information
• Comply with banking covenants
• Satisfy grant requirements

Your funding requirements may determine which type of audit you are required to have performed.

Fontana CPAs performs audits in accordance with:

• Auditing standards generally accepted in the United States of America
• Standards applicable to financial audits contained in Government Auditing Standards
• Compliance audits subject to:
  • Chapter 10.650 Rules of the Auditor General of the State of Florida, the Florida Department of Financial Services, and the Florida Single Audit
  • U.S. Office of Management and Budget (OMB) Circular A-133

Call us to discuss which audit fits your organization's needs.

Review - Limited Assurance

Less extensive than an audit, but more involved than a compilation, a review engagement consists primarily of analytical procedures we apply to the financial statements, and various inquiries we make of your company's management team. If the financial statements or supporting information appear inconsistent or otherwise questionable, we may need to perform additional procedures.

A review doesn't require us to study and evaluate your company's internal controls or verify data with third parties or physically inspect assets. Rather, a review report expresses limited assurance in the form of the statement: "We are not aware of any material modifications" for the financial statements to be in conformity with the Generally Accepted Accounting Principles (GAAP).

Compilation - Lowest Level of Assurance

In compiling financial statements for a client, we present information that is the "representation of management" and expresses no opinion or assurance on the statements. Compilations don't require inquiries of management or analytical procedures. Instead, we rely on our knowledge of accounting principles and a general understanding of your business.

Call us today at 727-799-9533 and ask for Eric or Ellen Fontana to discuss your Non Profit's auditing needs with an experienced Non Profit CPA. Or if you prefer you can send and email to Eric or Ellen.