Bookkeeper turnover, out-of-date books and limited financial insight contributed to cash flow uncertainty and impacted payroll and future funding for this nonprofit. When it comes time to prepare for an annual financial audit, many nonprofits find themselves underprepared and overwhelmed. Most organizations have spent the year focused on generating revenues, watching costs and serving their mission - not on their work papers. When the auditors arrive, the organization has to stop in its tracks to create an audit trail. While financial audits are a necessary requirement in order to maintain tax exemption status and secure certain types of funding, the audit process can be long and can reduce productivity by tying up staff and resources. Additionally, given their limite

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