Are you stressing about wrapping up your 2023 finances? There are so many regulations to adhere to and tasks to get done. It can get overwhelming very quickly. In our latest episode, special guest, Mark Pate, shares several great strategies for wrapping up your 2023 finances so you cango into 2024 stronger than ever.
Mark answers burning questions like, “Should nonprofits change audit firms every three to five years?” He also shares how nonprofits can get the most out of working with an auditor, using audit information to tell your organization’s story and impact, and characteristics of a smooth auditing process. Plus, he dives into the ever-important year-end tasks, how to plan for the year ahead, and how to create a positive audit experience.
About Mark Pate
Mark joined CapinCrouse in June 2013. He has over ten years of experience in nonprofit auditing and serves many different types of organizations, with a primary focus on universities, foundations, and international organizations. Since joining the firm, Mark has worked with key clients and served as the lead in planning and performing several financial statement audits each year.
Read the podcast transcript here.
Episode Summary
In this episode, you’ll learn strategies for closing out your 2023 finances and preparing for the year ahead, including:
•Should nonprofits change audit firms every three to five years? (7:40)
•How to get the most out of working with an auditor (11:15)
•Using audit information to share your story and impact (19:05)
•Important year-end tasks (21:55)
•Planning for the year ahead (25:40)
•Characteristics of a smooth auditing process (28:00)
•How in-person audits can be more efficient (33:45)
•Creating a positive audit experience (36:00)
Teasers
“It’s a good thing to be thinking about as a board to make sure that you’re not just getting the same thing done every single year.”
“Don’t just wait until it comes time for the audit to figure out all these complicated things.”
“The clients that do well in the audits are the ones who are letting us know ahead of time.”
“We want you to be as protected as possible. And so here are some ways that we’ve identified in your internal controls where you need to strengthen some things and change some things up.”
Resources
Connect with Mark on LinkedIn: http://www.linkedin.com/in/mark-pate-6449443b
Visit the CapinCrouse Website: https://capincrouse.com/
FREE Finance Routine Checklist: https://100degreesconsulting.com/routine/
Keep up to date with the podcast: @100degreesconsulting
Follow Stephanie on Instagram: @stephanie.skry/
Connect with Stephanie on LinkedIn: https://www.linkedin.com/in/stephanieskryzowski/
Visit the podcast page: https://100degreesconsulting.com/pr-for-nonprofits
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