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.