All public for-profits are audited annually

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Reference no: EM131203046

It is a SOX requirement that all public for-profits are audited annually. However, that's not the case for other types of businesses. If you think about small to mid-sized nonprofits, you may or may not have a full-blown audit every year. The same could be true for smaller (non-public) companies. I think for any organization you're going to be affiliated with, you should at least see that there is some external party that reviews the books. Would you recommend at least an annual review for these other types of smaller businesses/nonprofits that don't dig as deep and aren't as costly? Or do you feel that all businesses should have a true annual audit?

Reference no: EM131203046

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