Audit Policy

Generate an Audit policy here!

Click the button to start the wizard. Answer the questions about your organization and at the end you’ll get a customized document designed for your organization’s needs. The document comes out as a fully editable MS Word document which is yours to keep.

DISCLAIMER: Documents generated through Mission Guardian are legally sufficient for Minneapolis neighborhood associations. Clients assume the risk of editing generated documents. Birken Law Office cannot guarantee edits you make will result in a policy / procedure that complies with Neighborhoods 2020 requirements, state law, federal law, IRS regulations or nonprofit sector best practices.

Why do we need an audit policy?

As a recipient of City grant funds, we are routinely audited by the City to gauge compliance and whether we follow best practices. The City audits the nonprofit to make sure it’s a “safe” place to grant money. Many of the items on the City’s audit checklist deal with financial controls and review, as well as the board’s continuing engagement and fulfillment of their fiduciary duties.

Having an Audit Policy does a few things. It makes sure you have a policy and procedure set up to help you stay on top of your financial requirements. It also helps the board do its due diligence to periodically review the financial and legal situation of the organization. And finally, the Audit Policy in this wizard captures the N2020 compliance requirements and expectations – if you adopt this policy and follow it, you should pass your City Audits with flying colors.