Class focusing once more on the importance of audits why an audit might be required of an organization or program?
For instance does anyone recall the Single Audit Act that you confidently talked about (with dozens of other topics? Just in humble terms, how does that apply to an organization receiving federal grant money? Is the bound now $300,000 or $500,000 or some other number?
Do you presume that other grantors might require a non-profit organization to have a financial audit?