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About Dan Montgomery

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So far Dan Montgomery has created 14 blog entries.

How to Prepare for a Single Audit

By |2020-01-16T15:19:45-06:00January 15th, 2020|Assurance, Compliance, Internal Control, Nonprofit, Preparation|

  Does your organization receive federal funding? If the answer is yes, then you’ve probably heard of a “single audit.” A single audit is required when a non-federal entity expends $750,000 or more in federal awards during the fiscal year. If you are a recipient of federal funds and have exceeded this threshold, then you [...]

3 Alternative Engagements to an Audit

By |2019-12-09T13:12:09-06:00August 15th, 2019|Assurance, Board, Budget, Compliance, Nonprofit|

Last quarter, I discussed what an audit accomplishes and what it does not accomplish in my article titled “Do You Really Need An Audit?” In that article, I introduced the idea that an audit may not be right for every organization, especially if resources are tight, as audits can be costly. Below, I discuss [...]

Do You Really Need An Audit?

By |2019-12-09T13:24:12-06:00February 6th, 2019|Assurance, Board, Compliance, Internal Control, Nonprofit|

For those of you that go through an audit each year, you know how costly and time consuming they can be. You may have wondered, “Do I really need an audit? Is there something else that I can do to satisfy my financial reporting requirements?” To accurately answer those questions, you first need to [...]

3 Reasons You Should Consider Moving to the Cloud

By |2019-01-16T12:25:32-06:00December 4th, 2018|Internal Control, IT, Leading, Nonprofit, Preparation, Records, Tips|

What is the Cloud and How Does it Work? When you hear the saying, “your data is in the cloud”, it doesn’t mean your data is actually stored in a cloud about to drop torrents of rain upon you. The “cloud” merely means that your software and services are running through the internet instead of [...]

Preventing and Detecting Fraud Through Effective and Practical Internal Controls

By |2018-12-07T14:57:19-06:00September 6th, 2018|Board, Fraud, Nonprofit, Tips|

Dan Montgomery, CPA, provides some insight in preventing and detecting fraud through effective and practical internal controls for our Nonprofit Video Series.

Performance Measurement: Average Board Member Gift

By |2018-12-07T15:39:33-06:00June 26th, 2018|Board, Donation, Gifts, Nonprofit, Performance Measurement, Tips|

Dan Montgomery, CPA, provides this week's session of the Performance Measurement video series on the topic of the Average Board Member Gift.

Understanding the Statement of Cash Flows

By |2018-07-13T11:00:15-05:00May 8th, 2018|Budget, Cash Flow, Nonprofit|

Dan Montgomery, CPA and Senior Assurance Associate at TDT, explains why having an effective internal control system is important. With more than ten years of experience, Dan specializes in audits of nonprofits, governmental entities, and employee benefit plans. Required Financial Statements Under Generally Accepted Accounting Principles (GAAP), there are three basic financial statements that nonprofits [...]