Introduction
As you prepare to launch your new school in Texas, you likely have questions about the audit process and requirements. Below are some of the most frequently asked questions. Also see https://www.twc.texas.gov/programs/career-schools-colleges/ongoing-requirements
1. What is the purpose of an audit?
An audit verifies your financial statements and ensures compliance with regulations from the Texas Workforce Commission. Read more here Seven Benefits of Professional Audit Services for New Schools in Texas
2. How long does the audit process take?
The duration varies based on the complexity of your operations but expect a thorough review over several weeks.
3. What documents will I need?
You’ll need comprehensive financial records, operational plans, and any necessary supporting documents.
4. Can I conduct my own audit?
It’s highly recommended to engage a licensed CPA for an objective and thorough audit process.
Conclusion
Understanding the audit process is vital for your school’s success. If you have more questions or need assistance, feel free to reach out for a consultation.
