A Not-for-profit audit is a critical appraisal of the financial health of your organization and requires a final verdict from the auditor. On the other hand, a not-for-profit conducts a review to ascertain the credibility of your financial statement. Grantors, stakeholders, and government agencies use both documents to determine your organization’s credibility.
Cost of Not-for-profit Audit vs. Review
Not-for-profit Audit – $10,000 to $20,000
Not-for-profit Review – $5000 to $10,000
Gross revenue for Not-for-profit Audit vs. Review
Not-for-profit Audit – Greater than $500,000
Not-for-profit reviews – Less than $500,000
Benefits of Not-for-profit Audit vs. Review
A review demonstrates accountability and transparency by the organization. It also shows that you take your fiduciary duty seriously. On the other hand, financial statement audits help boost the confidence of the grantor and other stakeholders in the credibility of your organization’s finances.
Need help?
Contact MetwallyCPA to get an independent financial statement audit for a Not-for-profit that’s compliant with accounting standards.
Mohamed founded Metwally CPA PLLC in 2020 in the Dallas-Fort Worth metropolitan area. He holds active CPA license in the state of Texas and California. Mohamed is the firm’s Executive Director. Mohamed has a Master of Science (M.S.) degree in Accounting from University of Dallas. He has extensive assurance experience in a wide variety of industries, and he also devotes considerable time consulting and working with organizations and CPA firms on internal controls, audit quality, automation, and accounting best practices. He has over 15 years of audit experience.
Prior to founding the firm, Mohamed worked for big 4 and national firms for over than 10 years in the assurance practice. Mohamed worked on private clients as well as public clients and specialized in financial services sector.
He is a member of the Texas CPA Practice Issues, Diversity and Inclusion, and Governmental Accounting and Single Audits Conference Committees of Texas Society of CPAs.
Mohamed is a member of the American Institute of Certified Public Accountants, member of the AICPA small business group, member of the American institute of Certified Management Accountants, and Texas Society of Certified Public Accountants.
