A Comprehensive Look at Assurance for Not-for-Profits



HLB HAMT - Accounting Firm in UAE

Phone:- +971 4 327 7775
Mobile:- +971 50 749 0576
WhatsApp:- +971 56 219 1607
Email:- dubai@hlbhamt.com

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    Are you a not-for-profit organization looking to manage risks, improve practices, and provide meaningful financial reporting? Assurance services can be a valuable resource for you. These professional services, offered by audit firms and CPAs specializing in working with not-for-profit organizations, aim to ensure the accuracy and reliability of financial information, enhance transparency, and promote good governance within the organization.

    In this blog, we will answer some of the most frequently asked questions about assurance services for not-for-profit organizations and provide valuable insights and guidance.

    1. Why do not-for-profit organizations need assurance services?

    • Accuracy and Integrity of Financial Statements:

      • Assurance services ensure the accuracy and integrity of financial statements.
      • Thorough examination and analysis of financial statements eliminate discrepancies and ensure fairness.
    • Protection from False Financial Information:

      • Assurance services, like audits, protect organizations and the public from misleading financial information.
      • Critical role in safeguarding by providing a thorough examination of financial information.
    • Assurance to Stakeholders:

      • Audited financial statements give reasonable assurance of freedom from material misstatements.
      • External stakeholders can rely on the accuracy of financial information.
    • Compliance with Regulations:

      • Assurance services help ensure compliance with regulations and grant requirements.
      • Ensures appropriate use of funds by not-for-profit organizations.

    2. What are the types of assurance services for not-for-profit organizations?

    • Audit:

      • Highest level of assurance, extensive examination of financial statements.
      • Instills high confidence in the accuracy and reliability of financial information.
    • Review:

      • Limited assurance compared to audits but provides confidence in financial statements.
      • Involves analytical procedures and inquiries.
    • Financial Statement Audits:

      • Specific audit type to evaluate financial statements.
      • Ensures true and fair presentation of financial position and performance.
    • OMB Uniform Guidance Audits:

      • Designed for organizations receiving federal funding.
      • Assesses compliance with federal regulations and internal controls.

    3. What are the benefits of assurance services for not-for-profit organizations?

    • Risk Management and Improvement:

      • Helps manage risks, improve practices, and provide meaningful financial reporting.
      • Enhances donor confidence and promotes regulatory compliance.
    • Financial Transparency and Grant Funding:

      • Audits aid in financial transparency, securing grant funding, and meeting contractual agreements.
      • Identifies vulnerabilities, such as weak internal controls.
    • Donor Confidence:

      • Unmodified audit generates confidence in donors.
      • Serves as a universal indicator of the organization’s trustworthiness.

    4. What is the role of an assurance provider for not-for-profit organizations?

    • Ensuring Accuracy and Integrity:

      • Assurance providers ensure accuracy and integrity of financial statements and operations.
      • Identify critical audit areas, assess fraud risk exposure, and compare internal controls to industry standards.
    • Stakeholder Confidence:

      • Offer stakeholders confidence in financial condition and reporting quality.
      • Audit committees maintain overall integrity, financial credibility, and long-term viability.


    Assurance services play a vital role in the success of not-for-profit organizations. From ensuring the accuracy of financial statements to compliance with regulations and grant requirements, these services provide valuable insights and guidance. By outsourcing assurance services to experienced professionals, not-for-profit organizations can navigate the complexities of financial reporting and achieve their mission more effectively. Embrace the benefits of assurance services and enhance the transparency and governance of your organization.

    To learn more about how assurance services can benefit your not-for-profit organization, contact us at HLB HAMT today. Our team of experienced professionals is here to support you on your journey towards success.



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    Varun R Chandra
    Varun R Chandra
    07:38 25 Apr 21
    HLB Hamt is highly recommended! They have the quality of services that would satisfy your needs. I'm glad I found them.
    Giuseppe Assi
    Giuseppe Assi
    06:20 31 Jan 21
    Mohamed Sheriff
    Mohamed Sheriff
    16:16 28 Jun 20
    Experience with HLB Hamt in audit experience is great pleasure. They deploy well qualified accounts team for audits.... And the amount of checking they perform give the management of the company confidence that internal controls are well in place. We are glad to see they have high standard of audit practices.read more
    218141 JOSEPH THOMAS
    218141 JOSEPH THOMAS
    16:20 23 Jun 20
    Professionally managed firm with commitment to the engagements taken. My company and its group are assigning our... requirements for last 12 years to HLB and we don’t have any negative remarks on any assignments.read more
    07:14 23 Jun 20
    In my opinion, HLB Hamt is one of the best professional firms in UAE after big4. Excellent client service, professional... and competent staff and timely delivery are their strength. Over the years they have developed the infrastructure and skill set to handle multiple verticals ie, audit, tax services, consulting, IT support etc.Wishing HLB Hamt team all the very best.read more
    08:28 21 Jun 20
    Thank you Team HLB hamt...Your internal auditing team put the good amount of time and inputs in helping the... organisation making considerable improvements throughout the organisational working structure and helps in building the better business.Thanks.read more
    Maharajan Subramaniam
    Maharajan Subramaniam
    18:17 06 Jun 20
    High-Performing IT Teams, I'm impressed with the knowledge level of their deputed staff, audit procedures, and... checklist adopted. Mr. Vimal especially understand the requirement and provide solution not only technical feasibility and also considered budgeting. We’re confident in their abilities.read more
    Mohammed L
    Mohammed L
    08:07 05 Jun 20
    We have been working closely with them on payroll services for quite sometime.They provide very professional... services,experts in domain and excellent support. Would recommend them.Cheers.read more
    06:32 04 Jun 20
    Very professional team. Vimal has always given us good solution advice for various Software and IT Infra projects. We... are very Extremely satisfied working with him and his team. Wishing them success.read more
    Basil Daniells
    Basil Daniells
    05:55 03 Jun 20
    I have worked with HLB as a partner of Sage for about 2 years, they were dedicated to the success of the partnership... and kept aligned with the business plan that was agreed between our two companies. They are always ready to go the extra mile for a customer and don’t shy away from challenging circumstances. Keep up the good work and wish you all the success in the future.read more
    Amar Kashyap
    Amar Kashyap
    19:28 02 Jun 20
    Team of well qualified and organised professionals. Their reports are not based on numbers first they will understand... their client and their business. They are highly recommended and trust worthy.read more
    Radz de Jesus
    Radz de Jesus
    16:03 02 Jun 20
    We're glad to have found HLB Hamt to conduct the IT audit and risk assessment for our organization. We have learned a... lot from their team during that first project. And since then, we've continued to be in touch with them. Mr. Vimal especially is very good at presenting technical concepts in simple yet interesting ways that non-IT and business people alike would easily catch. We are very happy with the professionalism and quality of service they provide. They leave their clients nothing short of satisfied. Highly recommended.read more
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