When is an Audit needed?
Whether or not your organization requires an audit to comply with federal or state regulatory requirements, as an entity the periodic examination of controls and practices can greatly benefit and safeguard your organization. Whether an audit is out of necessity or an elective process, an audit may be required or needed annually. Additionally, an audit may be highly recommended during periods of transition. Transition of ownership or management transitions are prudent examples. Other examples would depend more heavily on the organizations goals and structure.

• Investor, Creditor or Lender's Information Requirements.
• Foreign Investor/Partner Information Requirements.
• Preparation for Sale or Transfer of Ownership. Regulation Stipulations Due to Contractual Requirements (Such As Government Contracts).

Ultimately, for any organization having good financial reporting is a paramount concern. With accurate information your organization can have the ability to accurately plan ahead while mitigating the risks associated with current operations.