Marcum LLP
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Nonprofit & Social Sector - Audit Services

 

Selecting the best independent auditor for your business or nonprofit is critical to empowering and safeguarding your organization.

When you select Raffa-Marcum's Nonprofit & Social Sector to perform and manage your audit, you get seasoned professionals who provide value beyond this assurance. As an experienced audit firm and trusted partner and advisor to both the nonprofit and for profit sectors, Marcum provides the technical and specialized expertise, quality control, partner attention, communication skills and flexibility to conduct your high-quality audit in a manner that exceeds your expectations.

Our professionals identify your critical audit areas, determine your exposure to fraud risk, compare your internal controls and operating processes to the best in your industry, keep you abreast of changes in accounting rules and regulations and ensure the due diligence required to effectively test the accuracy and completeness of information presented in your financial statements.

Whether you need a full independent audit or prefer support with audit preparation, let Raffa-Marcum's Nonprofit & Social Sector Group empower your leadership through this mission critical process and provide the insight and assurance you deserve.

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Financial Statement Audits

Your annual audit is one of the most critical processes your organization will undertake in testing the accuracy and completeness of information presented in your financial statements.

A high-quality audit can:

  • ​Enhance the growth of your organization through collected and organized information.
  • Help you gain public confidence.
  • Provide an important checkpoint to help your organization safeguard against errors and deter fraud.

Marcum provides the expertise you need to prepare a trusted annual Financial Statement Audit for your nonprofit organization.

 

OMB Uniform Guidance Audits

We keep our clients up-to-date on federal audit regulations.

Nonprofit organizations that expend $500,000 or more of federal awards in a year are required to submit an annual audit to the federal government, referred to as an OMB A-133 Audit.

Marcum makes this daunting task a little less daunting.

We work with our clients to fully comply with the requirements of the federal government to ensure fiscal integrity of your organization, the effectiveness of your internal controls and compliance with all terms and conditions of your federal grants.

OMB Uniform Guidance Audits
 

Review & Compilations

Review & Compilations

You may not require a full audit, but regular reviews of your accounting statements and procedures helps to instill confidence.

When a financial statement audit or an OMB A-133 audit is not required, but your organization still seeks to provide assurance to your Board, your members or your donors, Marcum can work with you to perform Review & Compilation services in accordance with the Statement on Standards for Accounting and Review Services issued by the American Institute of Certified Public Accountants.

Marcum will work with your team to prepare meaningful financial statements that provide credibility and reliability.

Compilation and review engagements are similar to audit engagements in many ways. In all three types of engagements, the CPA performs certain procedures in accordance with professional standards before issuing a report on a set of client financial statements. The major difference between those engagements is the level of assurance the practitioner provides in his or her report.

Our reviews are conducted in accordance with attestation standards established by the American Institute of Certified Public Accountants.

Agreed-Upon Procedures

Sometimes clients need a review of their internal procedures to ensure their accounting practices and controls are producing the desired results.

For nonprofit organizations, this service can help determine compliance with regulatory requirementsor may assist in developing an indirect cost allocation plan often required for grants and contracts.

Agreed upon procedures can be done for most anything and are highly customizeable for whatever issues/objectives the client and their board have.

  • Internal audit functions.
  • Review of grantee expenses.
  • Review of management expense reimbursement requests.
  • Review of royalty contract arrangements.
  • Review of third party internal controls, process and financial reports.
 

Employee Benefit Plan Audits

Marcum has been providing employee benefit plan audit services for more than 25 years.

We understand the complexity of employee benefit plans and the numerous regulatory requirements. Our team of dedicated professionals possesses the specialized knowledge and experience to help ensure compliance with the appropriate standards and changes in regulations that may impact your organization's employee benefit plan and audit.

Our staff have extensive expertise in the accounting, auditing standards and regulations governing employee benefit plans, including resolution of matters with the Department of Labor, IRS, and the Pension Benefit Guaranty Corporation.

We provide full-scope and limited-scope audits for single and multi-employer plans that include:

  • 401(k) and 401(a).
  • 403(b).
  • Defined Benefit.
  • Money Purchase.
  • Profit Sharing.
  • Employee Stock Ownership (ESOP) plans.
  • Health and Welfare Plans.
Employee Benefit Plan Audits

As a member of the AICPA's Employee Benefit Plan Audit Quality Center, we are committed to adhering to the highest quality standards. We have a senior partner designated and responsible for our Employee Benefit Plan Audit Practice; we have established quality control and training programs; we have internal and external inspections and we participate in the EBPAQC events.

NONPROFIT AND SOCIAL SECTOR GROUP NEWSLETTER

Stay Informed about the Latest Developments in the Nonprofit Social Sector

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Contacts

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Stefanie Gerard Cohn, Partner-in-Charge, Assurance, Washington, DC Metropolitan Area, Assurance
Partner-in-Charge, Assurance
Washington, DC Metropolitan Area
Assurance
Washington, DC
DC

Eric W. Glantz, Partner, Assurance
Partner
Assurance
Washington, DC
DC

Gery D. Ivanova, Partner, Assurance
Partner
Assurance
Washington, DC
DC

Kathy A. Raffa, Office Managing Partner, Washington, DC Metropolitan Area, Assurance
Office Managing Partner, Washington, DC Metropolitan Area
Assurance
Washington, DC
DC

Thomas J. Raffa, National Leader, Nonprofit and Social Sector Group, Assurance
National Leader, Nonprofit and Social Sector Group
Assurance
Washington, DC
DC

Kimberly D. Robertson, Partner, Assurance
Partner
Assurance
Washington, DC
DC

 
 
 
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Marcum LLP is one of the largest independent public accounting and advisory services firms in the nation, with offices in major business markets throughout the U.S., as well as Grand Cayman, China and Ireland.

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