I am not a CPA. The church I do bookkeeping for has a volunteer run procedural audit performed annually. The auditor that has done is for several years now has left and the church has not been able to find a replacement. They have inquired with CPAs, but the church does not have the funds to pay for the CPAs rates. They approached me about if I was willing to do it for another church and the other churches bookkeeper or treasurer could do it for us. It is my understanding that since it is not a financial statement audit, but instead a procedural audit, I am allowed to do that as a non-CPA. Is my understanding correct? Is there anything else I should be wary of? Does anyone know of a good template for a procedural audit engagement letter (my E&O insurance carrier seems to be lacking in this department)?
I would update my services with my E&O provider.