Accountability Memo

MEMORANDUM Subject change magnitude of public scrutiny on not-for-profit account necessitatements The purpose of this memo is to explain wherefore increasing scrutiny and demand for righteousness by the public has influenced reporting for not-for-profit and governmental entities. State and federal official regulators are reviewing, visit reports of agencies like ours that receive federal grants and contribute monies. Their purpose is to ensure that independent analyze firms are in compliance with generally Accepted Audit Standards (GAAS) and recently added requirements downstairs Generally Accepted Government Auditing Standards (GAGAS) or yellow book standards.The reporting requirements that the auditors require to be able to prepare a statement of understanding of internal come across structure is of particular interestingness. Because we are a not-for-profit company, the auditors withstand to report what certain members have the clearance to report cash donations and progress to deposits directly to the companies bank account. The auditors also make to evaluate the internal controls we have in place to prevent theft, and report the strengths and weaknesses of our system. As a result, we need to provide the auditors with entry to our computer transactions for all finance members.Your cooperation is greatly appreciated in this return and being in compliance give the auditors will help protect our interest in continuing to receive federal monies as part of our operating budget. Sincerely, References Williams , J L (Summer 1992 . New audit standards for audits of entities receiving federal financial help . Outlook , 60 , n2 .. 51 (1 . Retrieved August 5, 2012 General oneness via Gale HYPERLINK http / surface . galegroup . com /ips /start . do ? prodId IPS http /find . galegroup . com /ips /start . do ? prodId IPS Steinberg , R M Johnson , R N (August 1991 . Implementing SAS no . 55