Nonprofit Leadership
The audit process is a systematic examination of an organization's financial records, policies, and procedures to ensure accuracy and compliance with established standards and regulations. It serves as a critical tool for financial accountability and reporting, providing stakeholders with assurance that the financial statements accurately reflect the organization’s financial position and performance. This process also helps identify areas for improvement and enhances overall transparency in the nonprofit sector.
congrats on reading the definition of audit process. now let's actually learn it.