November 2, 2000 | Read Time: 1 minute
API’s Complete Guide to the Non-Profit Audit
by Paul H. Mihalek
By investing more time in preparing for audits, a nonprofit organization can decrease the overall cost of such a review, says the author.
Paul H. Mihalek, an associate professor of accounting at the University of Hartford and a member of Accountants for the Public Interest, writes that he prepared this manual so that charities of all sizes can ensure that their audits, whether performed by a private accountant or the Internal Revenue Service, are a “positive encounter and an effective use of resources.”
He provides a basic overview of accounting and auditing for nonprofit groups, and offers suggestions for recording and processing transactions, instituting methods of internal control, hiring an auditor, and participating in an audit.
The guide features a bibliography, sample worksheets, and several glossaries that define key terms.
Mr. Mihalek cautions, however, that this guide should be used only as a supplement to technical references that list the frequently changing legal standards for accounting and auditing.
Publisher: Accountants for the Public Interest, University of Baltimore, 1420 North Charles Street, Room 519, Baltimore, Md. 21201; (410) 837-6533; fax (410) 837-6532; 88 pages; $28 including postage and handling.
