Accounting Records Examination Examiner
Greyhound Pets, Inc. is a 501(c)(3) nonprofit organization dedicated to finding homes for retired racing greyhounds/greyhound mixes in the Pacific Northwest. We are seeking a CPA/Accountant to perform our annual examination of accounting records. The examination takes about 4 hours and does NOT constitute the rigorous process of a GAAP audit.
Greyhound Pets, Inc. (GPI) is a volunteer-run nonprofit organization. Other than a small paid kennel staff who works shifts caring for the dogs in the kennel, all key staff positions are volunteers, including the Board of Directors. Please visit www.GreyhoundPetsInc.org for more information.
The GPI by-laws require an annual independent examination of its accounting records. Historically, the examination is conducted by a volunteer accountant. The examination does not constitute the rigorous process of an actual GAAP audit. Like most small nonprofits, GPI does not attempt to create GAAP financial statements. GPI uses a modified cash method of account and Quickbooks Enterprise including payroll.
The GPI annual accounting examination takes about 4 hours at the home of the Executive Treasurer/Bookkeeper with the assistance of a Committee consisting of the Vice Treasurer, at least one other Director, and one Member-at-Large. The Examiner has full access to QuickBooks during the examination. All supporting records and documentation are located on site at the home of the Executive Treasurer. Financial reports can be emailed to the Examiner before the examination to help with planning.
PURPOSE AND GENERAL PROCESS
The purpose of the examination is to conduct a broad review of the year’s numbers for accuracy and provide an opportunity to explore internal control processes and possible areas of improvement. In the past, the activities included:
- Review bank reconciliations (done by a Committee member).
- Review all credit card receipts (done by a Committee member)
- Test random transactions consisting of:
- Examiner selects QuickBooks transactions from both the Income Statement and Balance Sheet, including revenue, expense, payroll, asset and liability accounts .
- Assisting Committee members trace the transactions back to their original source documents
- Review and discuss any material variances between Budget and Actuals.
- Review and discuss best practices in nonprofit accounting
After the examination is complete, the Examiner issues a report to the Executive Director documenting that the examination took place, the general material findings (positive and negative), and suggestions for improvements if any are noted.