Advisory
Directors are responsible for financial oversight whether or not anyone ever taught them to read a balance sheet.
Goldenthal & Suss Consulting P.C. provides financial oversight training to nonprofit boards, audit committees, and the boards and owners of closely held companies. Sessions cover reading financial statements and the audit report, what the management letter means, the audit committee's responsibilities, conflict-of-interest and whistleblower policies, and what an organization's Form 990 discloses to the public. For New York nonprofits, the training addresses the governance requirements of the Not-for-Profit Corporation Law.
Most board members join for the mission or the business, not the accounting. Effective oversight still requires a working ability to read the statement of financial position and activities, recognize the difference between restricted and unrestricted resources, follow cash against budget, and ask the questions an audit report and management letter invite.
The training uses the organization's own statements wherever possible, which makes it immediately practical.
New York's Not-for-Profit Corporation Law assigns specific duties to boards. Organizations required to file audited financial statements with the Charities Bureau must have the board, or a committee of independent directors, oversee the audit. Every corporation must adopt a conflict-of-interest policy, and larger organizations must adopt a whistleblower policy. Training covers what each requires and how to show it is being followed.
Under the Not-for-Profit Corporation Law, a corporation required to file an independent CPA's audit report with the New York Attorney General must have its audit overseen by an audit committee of independent directors or by the independent members of the board. The committee's duties include reviewing the audit's scope and results with the auditor.
Part VI of Form 990 asks publicly whether the organization has conflict-of-interest, whistleblower, and document-retention policies, whether the board reviewed the 990 before filing, how executive compensation is set, and how many voting members are independent. Funders and watchdog groups read these answers.
Yes. Training directors on financial oversight is generally a permitted service for an audit client, provided we are not taking on management or governance responsibilities ourselves.
Sources & review
NY N-PCL §§ 712-a (audit oversight), 715-a (conflict of interest), 715-b (whistleblower). Reviewed 2026-10-01. Thresholds and deadlines change — confirm current requirements before relying on them.
Tell us about your organization and the deadline you are working toward. We will tell you what the engagement involves and what it costs.
Request a ProposalStaten Island, NY · Freehold, NJ
(718) 227-6035
