Financial Audit in United States
Definition of Financial Audit (in Charity Law)
A concept of Financial Audit in the context of charitable ogranizations applicable in the United States is provided here: A formal examination of an organization’s financial records and practices by an independent, certified public accountant with the objective of assessing the accuracy and reliability of the organization’s financial statements. An audit must follow standards set forth by the American Institute of Certified Public Accountants to be accepted universally.
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See Also
- Charity
- Foundation
- NGOs