Forming audit committees is becoming a more common practice in the nonprofit sector, offering an unbiased outlet to monitor the financial health of an organization. Audit committees ensure that the leadership team is effectively following internal and external auditing protocols, and that the organization’s financial reporting practices are objectively reviewed on a regular basis.
Eric Cohen, CPA is the President and Founder of E. Cohen and Company CPAs, a full-service CPA firm serving nonprofit organizations, government contractors, professional service companies and other industries with audit, tax and business advisory services for over 26 years. The firm was commended as a SmartCPA Reader’s Choice by SmartCEO magazine and a “Best Accounting Firm to Work For” by AccountingToday magazine. For more information, visit www.ecohencpas.com or call 301-917-6200.