Audit Requirements

Pennsylvania (PA) Audit Requirements

This Infomation can be found on the Pennsylvania Department of State Website

The financial report of every PA charitable organization which receives annual contributions of $300,000 or more shall be audited by an independent certified public accountant or public accountant.  Every charitable organization which receives annual contributions of at least $100,000, but less than $300,000, shall be required to have a review or audit of their financial statements performed by an independent certified public accountant or public accountant.  Every Pennsylvania charitable organization which receives annual contributions of at least $50,000, but less than $100,000, shall be required to have a compilation, review or audit of their financial statements performed by an independent certified public accountant or public accountant.  A compilation, audit or review is optional for any charitable organization which receives annual contributions of less than $50,000. Audits shall be performed in accordance with generally accepted auditing standards, including the Statements on Auditing Standards of the American Institute of Certified Public Accountants, whereas reviews shall be performed in accordance with the Statements on Standards for Accounting and Review Services of the American Institute of Certified Public Accountants.