Three Types of Audits - Exponent Philanthropy

Three Types of Audits

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Many foundation audits are planned: invited by the foundation and involving a firm it hires to assess its finances and internal controls. Involuntary audits by the Internal Revenue Service or state agencies tend to be unexpected but need not be unsettling. You can prepare for audits of all types by complying with the law, keeping your records accurate and up-to-date, and keeping your files well organized.

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