Addressing Operating Inefficiencies

Improving audits with technology

It’s common for auditors to recommend improving your organization’s accounting technology.

Accounting software allows you to track multiple revenue sources and budgets, meet compliance and reporting requirements, make informed financial decisions, manage proper security and controls, and maintain 24/7 audit-ready financials.

MIP Fund Accounting® has features that help during audits like:

Strong internal controls that control how personnel access financial systems
A fully auditable general ledger
Automation of business rules to prevent errors and fraud
Clear classification of restricted and unrestricted net assets
Quick generation of profit and loss statements and other reports for individual grants
Shareable access to read-only financials with your auditor

Nonprofits around the U.S. are using MIP to improve the audit process. Lowcountry Community Action Agency provides services to low-income constituents and families of Colleton and Hampton counties in South Carolina. Discover how they’ve improved audit preparation times by 50% with MIP.

If your organization is considering new technology, learn how MIP helps with audits.