This is the ninth in a series of Virtual CAP news feeds, which can be used to support your agency’s efforts in relation to risk mitigation and meeting the CSBG Organizational Standards – full listing of Community Action Risk Mitigation Blogs.
What Every Board Needs to Know
This guide is intended as an overview of the audit report and financial statements. Addressed to Board members of CAAs, the toolkit walks through the terms and processes of an audit report and how to read financial statements. The toolkit includes an exercise that walks through financial reports, a sample RFP for audit services, and a directory for additional resources.
This area of responsibility is addressed under:
- Goal 5 of the Community Action National Goals: Agencies increase their capacity to achieve results.
- CSBG Organizational Category 8: Financial Operations and Oversight (Standards 8.1 – 8.13)
The toolkit and webinar are specifically addressed to board members; though they serve as a good overview for anyone interested in learning the basics of the audit process and reading financial statements.
This publication was created by the National Association of Community Action Agencies – Community Action Partnership, in the performance of the U.S. Department of Health and Human Services, Administration for Children and Families, Office of Community Services Grant Number 90ET0428. Any opinion, findings, and conclusions, or recommendations expressed in this material are those of the author(s) and do not necessarily reflect the views of the U.S. Department of Health and Human Services, Administration for Children and Families.