How MinistryCFO Can Reduce Your Church Audit Fees
At MinistryCFO, we’ve had a lot of success getting audit, review, and compilation fees reduced for our clients. As a reminder, an audit involves a thorough examination and testing of a church’s accounting and business operations. Reviews are essentially “audit lites” in that the examination and testing is limited in scope. Compilations are just that, a compiling of the financial reports presented by the church.
Naturally, audits are more expensive than reviews. In turn, reviews are more expensive than compilations. In all cases, MinistryCFO can go to bat for you and likely reduce your CPA fees, regardless of whether it is an audit, review, or compilation.
We have a number of ways to reduce your fees:
At MinistryCFO, we have established relationships with credible CPA firms. These firms know that we’ll be providing them with very reliable financial work papers and reports. As such, they provide us with competitive rates and discounts, which we pass on to our clients.
Given the financial size and scope of the work involved, we can quickly figure out what the range of reasonable fees should be for your church. We will promptly let you know if you are paying outside of this range.
PBC stands for prepared by client, and the acronym applies particularly to audits and reviews. At MinistryCFO, we can prepare many of the work papers and reports for the CPA firm that would otherwise have to be prepared by the CPA firm. Our rates are lower than the CPA rates; thus our client saves when we do the PBCs on behalf of the CPAs.
At MinistryCFO, we prefer to negotiate the audit, review or compilation fees on your behalf. We know the right questions to ask, and CPA firms immediately realize our expertise and how we can help them.
MinistryCFO finds ways to save you money. Let the MinistryCFO team help you select you auditor and negotiate your audit fees and thus provide you with savings.