FREQUENTLY ASKED QUESTION
Question: Do all funders require an audit for organizations to receive funding?
Answer: The simple answer is no. Although some funders do require an audit, there are others that do not. Even if funders don't require an audit, your organization may want one for the benefit of financial transparency.
However, as with many new organizations, the initial audit cost may be a factor. If that is the case for your organization, you may consider having a review vs. an audit. Some funders will accept that instead. It's a good idea to check with several agencies that you will apply to before incurring that expense.