Audit & Assurance · 2024
An audit that finished early, for once
Form Health Collective
Clean
Audit result
0
Adjustments
−1 wk
Timeline
Overview
Audit-readiness work and a clean financial-statement audit for a nonprofit health network facing its first grant-mandated review.
The challenge
A new federal grant required Form's first-ever independent audit, and their internal records weren't built for scrutiny. Restricted and unrestricted funds were mixed together, and a failed or qualified audit would have put future funding at risk.
Our approach
We ran a pre-audit readiness assessment, separated restricted fund accounting, rebuilt the supporting schedules auditors actually ask for, and coordinated the fieldwork so nothing stalled. Every reconciliation was documented and tied out in advance.
The outcome
The audit came back clean with zero adjusting entries and finished a week ahead of schedule. Form kept its grant, and the funder cited the quality of the financials in approving a renewal.
