Revised Financial Management Standards Reflect New Audit Requirement

The new revised Financial Management (FIN) standards for Private Organization Accreditation to be published June 1, 2014

The launch date of these new standards has been pushed back to July 1.

COA's new FIN standards require all organizations pursuing accreditation/reaccreditation to conduct an annual financial audit.

For-profit organizations as well as nonprofit organizations with revenues of under $500,000 annually that have historically been exempt from this requirement will now have to conduct an audit.

The audit requirement is applicable to all organizations pursuing Private Organization Accreditation that sign their Accreditation Agreement on or after June 1, 2014. The revised FIN standards will not apply to organizations that sign their agreement prior to June 1, 2014 until the organization's next reaccreditation process.

Peer Reviewers, Team Leaders, and Commissioners, the newly revised FIN standards will be reflected in your Volunteer Information Portal when applicable to the organization. 

"The financial management of organizations is receiving increased scrutiny. With this in mind, COA has revised its Financial Management standards to align with these emerging best practices and to ensure credibility and integrity." - Richard Klarberg, President/CEO, Council on Accreditation 

WHO IS ACCREDITED?

Private Organization Accreditation

Family Services of Southeast Texas strengthens families through accessible, affordable counseling services and education for issues affecting family life, mental health and employment.  We also provide comprehensive domestic violence shelter and support services.
read more >>

ORGANIZATION TESTIMONIAL

Holy Family Institute

Sister Linda Yankoski, President/CEO

The Council On Accreditation provides all stakeholders involved in the delivery of social services the assurance that the organization is credible, effective, and is committed to quality improvement. The COA process is an important tool for anyone involved in leading an organization to establish best practices and maintaining and updating these practices over time.
read more>>

Copyright © 2019 Council on Accreditation. All Rights Reserved.  Privacy Policy and Terms of Use