Frequently Asked Questions
A: BryMar CPA primarily serves non-profit organizations and private foundations, as well as mid-sized businesses looking for accurate financial management and compliance support. Our team provides specialized services in audit preparation, bookkeeping, and compliance. We are committed to helping mission-driven organizations and businesses achieve their financial goals with precision and clarity.
A: BryMar CPA offers a range of services, including audit preparation, monthly/quarterly bookkeeping, financial statement preparation, financial statement audits and 990 tax return preparation for non-profit organizations. Our team is experienced in assisting the organizations we serve to maintain compliance, accuracy, and transparency in their financial reporting.
A: BryMar CPA is more than just an accounting firm—we’re a dedicated partner committed to your success. We offer specialized expertise tailored to meet the unique needs of each client, whether non-profit or for-profit. Our team prioritizes building lasting relationships through open, honest communication, ensuring you stay informed and supported at every step. With a strong focus on meeting timelines and delivering personalized, reliable service, we provide the expertise and care you need for a seamless, stress-free experience.
A: Communication is at the heart of our work at BryMar. We prioritize open, honest, and timely communication with clients, keeping them informed at every stage of our process. We are always available to answer questions, address concerns, and provide updates to ensure clients feel supported and confident in their financial reporting.
A: At BryMar CPA, we believe that audits don’t have to be stressful! We streamline the audit process by guiding our clients every step of the way, breaking down complex requirements into clear, manageable tasks. Our team communicates openly and provides personalized support to answer questions, ease concerns, and keep everything on track. We also bring a fun, positive approach to our work—whether it’s through friendly check-ins, celebrating milestones, or adding a bit of humor along the way. We’re here to make audits efficient, engaging, and even enjoyable!
A: BryMar CPA is dedicated to helping non-profit organizations thrive by ensuring accurate financial reporting and compliance with regulatory standards. Our team understands the unique challenges non-profits face, and we offer specialized services, including audit prep and 990 tax return preparation, and financial statement audits to support their mission.
A: BryMar CPA specializes in working with non-profit organizations that have annual revenues over two million dollars. Our deep expertise in non-profit accounting allows us to address the specific financial reporting needs of these organizations, helping them maintain compliance and accuracy in their financials.
A: Yes, BryMar CPA specializes in providing monthly bookkeeping services tailored for private foundations. We understand the unique regulatory requirements and financial complexities that foundations face, including grant tracking, endowment accounting, and compliance with IRS regulations. Our team ensures accurate record-keeping, streamlined financial reporting, and compliance support, allowing foundations to focus on their mission. We also help with audit preparation and 990 tax filings, ensuring that your foundation’s financials are clear, organized, and prepared for any regulatory reviews.
A: Over 97% of BryMar CPA's new business comes from client referrals, which speaks volumes about the trust and strong relationships we build with our clients. We’re more than just auditors and accountants – we’re committed partners in our clients' financial success, offering a personalized and genuinely caring service that leaves a lasting impression.
A: Yes! We gladly accept RFPs from non-profit organizations. Share the details of your needs, and we’ll provide a customized proposal that aligns with your mission and goals. Our team is dedicated to supporting non-profits with expert accounting services, including audits, bookkeeping, and 990 preparation, to help you achieve compliance and financial clarity.
Getting started with BryMar CPA is easy! Just drop us a line to info@brymar.cpa. Our team will be happy to discuss your specific needs and explain how our services can benefit your organization.
Choosing an Audit Firm
Choosing the right nonprofit audit firm starts with finding a team that understands your organization’s structure, funding sources, and compliance requirements. Look for a CPA firm with experience in nonprofit audits, including Single Audits if applicable, and one that communicates clearly throughout the process. A strong audit partner should provide structured timelines, proactive guidance, and insights that help leadership and boards make informed decisions. Also, ensure your audit firm has a PASS for Peer Review - you can ask for it if the firm does not offer it.
A: Nonprofits should look for an audit firm that specializes in nonprofit accounting, understands regulatory requirements, and has experience working with boards and audit committees. Key factors include clear communication, adherence to timelines, transparency in the audit process, and the ability to translate financial results into meaningful insights. A collaborative approach is essential to ensure the audit is efficient and stress-free.
A: CPA firms that specialize in Single Audits typically have experience working with organizations that receive federal funding and understand Uniform Guidance requirements. These firms are equipped to handle compliance testing, internal control evaluations, and federal program reporting. Working with a firm that regularly performs Single Audits helps ensure accuracy, compliance, and a smoother audit process.
A: The best audit firm for a private foundation is one that understands the unique reporting and compliance requirements foundations face, including 990-PF filings and grantmaking activities. A strong partner will provide both audit and advisory support, helping improve financial clarity, maintain compliance, and streamline internal processes.
A: Specialized nonprofit audit firms bring a deeper understanding of industry-specific regulations, funding structures, and reporting requirements. This expertise leads to a more efficient audit process, fewer surprises, and more meaningful insights for leadership. Organizations benefit from working with a firm that can anticipate challenges and provide tailored guidance.
A: BryMar CPA specializes in working with non-profit organizations that have annual revenues over two million dollars. Our deep expertise in non-profit accounting allows us to address the specific financial reporting needs of these organizations, helping them maintain compliance and accuracy in their financials.
Audit vs. Review
A: A nonprofit audit provides the highest level of assurance, including detailed testing of financial records, internal controls, and compliance. A financial statement review offers limited assurance and focuses on analytical procedures and inquiries rather than extensive testing. Reviews are typically less time-intensive and may be appropriate for organizations that do not require a full audit.
A: A financial statement review may be sufficient when an organization does not have regulatory or funding requirements that mandate a full audit. Reviews are often used by smaller organizations or those seeking a lower level of assurance for internal or stakeholder purposes. It’s important to evaluate funding sources, state requirements, and board expectations when determining the appropriate level of service.
A: The primary difference lies in the level of assurance provided. Audits involve detailed testing and verification of financial information, resulting in a high level of assurance. Reviews rely on analytical procedures and management inquiries, offering limited assurance. The choice depends on compliance requirements, stakeholder needs, and organizational complexity.
Audit Preparation & Process
A: Common documents include financial statements, general ledger details, bank reconciliations, supporting schedules, grant agreements, and documentation of internal controls. Organizations should also be prepared to provide board minutes, policies, and prior audit reports. Having organized and complete documentation helps streamline the audit process.
Preparation starts with ensuring financial records are accurate, reconciled, and supported by proper documentation. Organizations should review internal controls, gather key documents, and communicate timelines with their audit team. Working with an experienced CPA firm can help identify gaps early and create a structured plan for audit readiness.
A: Nonprofit audits provide confidence in the accuracy of financial statements and strengthen transparency with stakeholders. They also highlight areas for improvement in internal controls and financial processes. This allows boards and leadership teams to make informed decisions and demonstrate accountability to donors, grantors, and regulators.
Nonprofits over $2 million in revenue should ensure their financial statements are complete, reconciled, and aligned with accounting standards. They should also prepare documentation related to internal controls, funding sources, and compliance requirements. Early planning and coordination with an audit firm can significantly reduce delays and improve the overall audit experience.
Compliance & Requirements
A: Nonprofits in California may be required to undergo an audit based on revenue thresholds, funding requirements, or grant agreements. For example, organizations receiving significant federal funding may need a Single Audit under Uniform Guidance. It’s important to review both state and federal requirements to determine your obligations.
Audit requirements can be triggered by factors such as revenue levels, government funding, or donor and grantor requirements. Federal funding exceeding certain thresholds may require a Single Audit, while state regulations may also apply. Understanding these triggers helps organizations plan ahead and stay compliant.