During an MMS, LLC Administrative Audit, we will assess the following areas:

 

General Accounting – Assess general ledger transaction, financial reports, and general compliance issues relating to the reporting of data.

Budget process Evaluate the budget process and corresponding financial reporting confirming that the record keeping is in balance with the intent of the budget process.

Incoming funds – Evaluate all areas associated with the receiving and handling of funds including processes, internal controls, and workflow. As applicable, review contribution statement accuracy through verification letters to a sample of contributors, and observe an offering counting process.

Disbursement of Funds – Evaluate all areas and processes associated with the retention and disbursement of funds. This includes analyzing check processing procedures, verifying documentation for a sample of payments, and reviewing bank statements.

Payroll/Payroll Taxes – Evaluate the payroll process and related tax filings to ensure compliance and accuracy. This includes a review of staff compensation and general human resource policies and administration

Personnel – Evaluate processes, procedures, and documents related to handling of personnel within the organization.

Other – Compare insurance coverage to industry standards.

Read about the Administrative Audit’s Methodology and Expected Outcomes.