THE AUDIT: Most Tribal Governments are required to have an annual audit completed by an independent public accountant within nine months after fiscal year end. DONHAM & ASSOCIATES, CPA, LLC plans each audit to work with Tribal staff to assure that the audit is completed efficiently and the audit report is available for distribution by the filing deadline.
PREPARING FOR THE AUDIT: Many Tribes require technical assistance in preparing financial statements and supporting documentation for the auditor. Most often, the accounting firm chosen to perform the audit cannot assist in this yearend process, commonly referred to as "yearend close-out" due to the need of the auditor to remain independent. DONHAM & ASSOCIATES, CPA, LLC can accelerate the "close-out" process and provide detailed and accurate financial data for the auditor. This type of audit preparation assistance often provides invaluable training for the Tribal staff in preparing for future audits
AUDIT RESOLUTION: Federally required audit reports often contain adverse findings in the management of Federal awards and may include specific questioned costs about the eligibility of expenditures charged to the awards. Federal awarding agencies that are referred to in the audit report as having either adverse findings or questioned costs require a formal response from the Tribe. DONHAM & ASSOCIATES, CPA, LLC has saved Tribal entities millions of dollars through negotiations with Federal agencies to eliminate and/or materially reduce repayment of questioned costs found in the audit.