Audit & Assurance
Nonprofit audits, Single Audits, and Uniform Guidance compliance — organized around your deadlines, not ours.
Learn more → ◆ Nonprofit & Health Center CPA Specialists
The CPA Firm in Illinois That Nonprofits and Health Centers Trust
Sheikh, Osher & Scott CPAs & Advisors is a nonprofit CPA firm in Illinois serving nonprofits, Community Health Centers (CHCs), Federally Qualified Health Centers (FQHCs), and grant-funded organizations in Illinois. From Single Audits, GATA and HUD compliance audits, and Yellow Book (GAGAS) audits to Form 990 preparation, bookkeeping, tax planning, and outsourced CFO services, we deliver every engagement with a clear process, defined timelines, and direct partner oversight, so your board, funders, and leadership always have the financial information they need, when they need it.
Trusted by mission-driven organizations
100+Audits Every Year
250+Nonprofits Served Annually
100%Partner Oversight
350+Current Clients
15+Years Experience
Proud members & affiliations: 
What We Do
Specialized Services, Delivered with Structure
Industry-aligned tax, audit, and advisory services built for nonprofits, health centers, and growing businesses.
Business Advisory
Outsourced CFO services, strategic guidance, and forecasting to help your organization plan and scale with confidence.
Learn more →Full-Service Accounting
Bookkeeping, monthly reconciliations, payroll, and financial statement preparation for companies and franchises.
Learn more →Tax Services
Form 990 preparation, grant reporting, and year-round tax planning that keeps funders and federal agencies satisfied.
Learn more → Who We Are
About Our Firm
Sheikh, Osher & Scott CPAs & Advisors is a nonprofit CPA firm in Illinois serving nonprofits, Community Health Centers (CHCs), Federally Qualified Health Centers (FQHCs), and grant-funded organizations in Illinois.
Sheikh, Osher & Scott CPAs & Advisors P.C. is one of the leading accounting firms in Chicago, committed to empowering Not-For-Profit, Community Health Centers, and small to mid-sized businesses across the United States.
Our Certified Public Accountants bring together Internal Revenue Service expertise and a client-first mindset. Whether you need an audit, Form 990 preparation and filing, or support to scale your organization, our team delivers clear, timely, compliant financial guidance tailored to you.
Learn More About Us → Why Sheikh, Osher & Scott
When the Audit Drags On, Everything Else Stops
The cost of a disorganized audit goes further than most nonprofit and health center leaders realize
Your team is pulling documents, answering unclear follow-up requests, and chasing reconciliations that should have been ready months ago. Meanwhile, grant compliance deadlines, board reporting, Form 990 filing, and program delivery are all waiting on an audit that has no clear end in sight.
You built this organization to serve a mission, not to spend weeks managing an auditor’s request list without a timeline. A disorganized nonprofit audit sends a direct message to your funders, your board, and your grantors that your financial house is not in order. As a CPA firm in Illinois that specializes in serving mission-driven organizations, we know that message is one no executive director or CFO should ever have to send, and with the right nonprofit accounting firm in Illinois, they never have to.
Subscribe to our NewsletterA More Organized Audit Process
Upfront request listDay 1
Status updatesWeekly
Partner oversight100%
Typical audit completion6–8 wks
Nonprofits served annually250+
Who We Serve
A Nonprofit CPA Firm in Illinois That Understands Mission-Driven Organizations
We understand the pressure nonprofit audit firms in Illinois exist to relieve: tight deadlines, grant compliance obligations, board reporting cycles, and a finance team that cannot afford months of uncertainty waiting on a single audit firm in Illinois that does not communicate.
Sheikh, Osher & Scott CPAs & Advisors is a certified public accountant firm in Illinois working with nonprofits, 501c3 organizations, Community Health Centers, FQHCs, and grant-funded organizations that require structured audit and tax services in Illinois, Form 990 preparation, and CPA advisory services for nonprofits in Illinois, delivered with direct partner oversight and a process your entire leadership team can plan around.
- 250+ nonprofits served annually
- Single Audit, GATA & HUD audit experience
- Partner and manager review on every engagement
- Clear request lists upfront
- Weekly status updates
- Structured timelines and communication
How We Work
A More Organized Audit Process from Start to Finish
Our audit & assurance services deliver comprehensive, tailored coverage to ensure accuracy, transparency, & minimal disruption.
One Complete Request List
You receive a clear request list, timeline, and responsibility map before the engagement begins.
Audit Built Around Your Deadlines
Your audit is managed around reporting timelines, grant requirements, and organizational priorities.
Direct Communication
You work with a responsive team that provides regular updates and practical answers without unnecessary back-and-forth
How It Works
Getting Started Is Simpler Than You Think
Working with us takes three straightforward steps, and by the end, your audit runs on a clear timeline your whole team can plan around.
01
Book a Free Call
Tell us about your organization, your funding sources, and your upcoming audit timeline. We confirm what you need and outline exactly how we work.
02
We Build Your Plan
We review your expenditures, funder requirements, & prior findings, then send you a clear engagement scope, request lists, & responsibilities.
03
Audit Done
Your audit closes on schedule, your board receives financial statements they can rely on — reviewed by partner and manager before they’re issued — and your team stays focused on the work that really matters.
Industries
Deep Expertise in the Sectors That Need It Most
Healthcare
Community Health Centers and FQHCs with complex grant and compliance needs.
Learn more →Not-For-Profits
501(c)(3) and grant-funded organizations needing Single Audits, Form 990 filing, and financial transparency.
Learn more →Consumer-Facing Brands
Franchises, retail, and professional-services firms seeking reliable bookkeeping and advisory support.
Learn more → Our Specialization
Nonprofit Audit, Single Audit & Form 990 Services for Illinois Nonprofits and Health Centers
At Sheikh, Osher & Scott CPAs & Advisors, we understand that nonprofit CPA clients and health center executives cannot afford months of confusion on an engagement that should have a clear end date. That is why we built a structured nonprofit audit process specifically for 501c3 organizations, Community Health Centers, and FQHCs, with clear request lists, defined timelines, and direct partner oversight on every engagement. As a Single Audit firm in Illinois with deep experience in Uniform Guidance compliance and Form 990 preparation, we ensure your board, funders, and grantors always have the financial information they need, exactly when they need it. For organizations funded by Illinois state agencies, our compliance audit services cover GATA requirements end to end — Yellow Book (GAGAS) financial statement audits, CYEFR guidance and review with the required in-relation-to opinion, and support through the Grantee Portal submission.
Connect With Us → Client Testimonials
Client Testimonials
Their team gave us a clear request list, regular updates, and helped us complete the process with far less disruption than we’d ever experienced.
After working with several CPAs in Illinois, we finally found a team that delivers what they promise. The tax support and virtual CFO services are exceptional.
Their audit services saved us from penalties and gave our board full confidence in the numbers. Highly recommend this accounting firm in Chicago.
Resources
Free Nonprofit Audit Readiness Checklist
A practical checklist to help your organization prepare for audit season before requests start piling up.
Nonprofit Audit Prep Checklist: What Your Auditor Will Ask for and Why
Every nonprofit finance team has experienced the same moment. The Prepared by Client list arrives. It is 40 items long. Fieldwork starts in 3 weeks.
Read the checklist →Every Audit On Time. Every Statement Reviewed Twice.
Direct partner oversight and manager review on every engagement — what reaches your board and funders has been checked by more than one set of CPA eyes, on the schedule we committed to.
FAQs
FAQs
What is a GATA audit, and does our organization need one? +
GATA — the Grant Accountability and Transparency Act — is the Illinois law that sets audit and reporting requirements for organizations receiving state grant funds or federal funds passed through a state agency. What’s required depends on your State-issued award expenditures for the fiscal year, under the tiers in effect for fiscal years beginning on or after October 1, 2024: below $500,000, no audit is required under GATA; from $500,000 to $749,999, a financial statement audit; at $750,000 or more, a financial statement audit performed under Government Auditing Standards (Yellow Book); and at $1 million or more in federal awards, a full Single Audit. Every grantee, regardless of size, also files a Consolidated Year-End Financial Report (CYEFR) through the state Grantee Portal. If you’re not sure which tier you fall into, we’ll walk through your award list with you at no charge.
What is the Single Audit threshold for 2026? +
$1,000,000 in federal award expenditures. The threshold rose from $750,000 for fiscal years beginning on or after October 1, 2024 — so for organizations with a June 30 year end, the new threshold first applies to the year ending June 30, 2026. Federal awards include both direct federal funding and federal dollars passed through the State of Illinois. Single Audit packages are due to the Federal Audit Clearinghouse by the earlier of 30 days after you receive the auditor’s report or nine months after fiscal year end.
What is the CYEFR, and when is it due? +
The Consolidated Year-End Financial Report is a GATA-required schedule reporting your state and federal grant expenditures by agency and program. It’s prepopulated in the Illinois Grantee Portal from the Catalog of State Financial Assistance, your auditor issues an “in relation to” opinion on it as part of the audit, and it’s submitted through the Grantee Portal with your audit package. We guide your team through preparing the CYEFR and review it on every GATA engagement, so it ties to your audited financial statements before it’s submitted. Grantees below the audit threshold still file the CYEFR — on its own, unaudited — due six months after fiscal year end; audited packages follow their own GATA filing deadlines.
What’s the difference between a Yellow Book audit and a Single Audit? +
A Yellow Book (GAGAS) audit is a financial statement audit performed under Government Auditing Standards, which adds reporting on internal control and compliance to a standard audit. A Single Audit includes everything in a Yellow Book audit plus detailed compliance testing of your major federal programs under the Uniform Guidance. Which one you need depends on spending: GATA generally requires Yellow Book audits starting at $750,000 in State-issued award expenditures, and a Single Audit at $1 million in federal awards.
Do you perform HUD audits? +
Yes — HUD compliance audits are a core specialty of our firm. We audit HUD-assisted multifamily housing for both for-profit owners, under the HUD Consolidated Audit Guide, and nonprofit owners, through the Single Audit, and we audit public housing authorities as well. Day to day we work directly with your property management company, which typically holds most of what the audit requires, and we support your team with REAC electronic submissions whenever assistance is needed.
How much does a nonprofit audit cost in Illinois? +
Every engagement is quoted as a fixed fee before it begins. Pricing is based on the expected hours the audit will take — driven by the condition of your books, the number of funding sources and major programs, whether it’s a first-year audit, and the reporting requirements your funders impose — so two organizations of similar size can have meaningfully different fees. After a brief review of your trial balance and award list, we provide a written fixed-fee quote, so you know the exact cost before the engagement begins.
How long does a nonprofit audit take? +
A well-organized nonprofit audit is routinely completed within six to eight weeks from kickoff to board-ready financial statements. Before fieldwork begins, we deliver a complete request list, a timeline, and a responsibility map, then hold weekly status updates so you always know where things stand. Most audit delays come from open-ended requests and slow communication — our process is built to remove both.
Do you work with FQHCs and Community Health Centers? +
Yes — Federally Qualified Health Centers and Community Health Centers are a core specialty of our firm. HRSA Section 330 funding typically places health centers well over the Single Audit threshold, and we work within the full compliance environment that comes with it, including federal grant management and program-specific reporting requirements.
What makes Sheikh, Osher & Scott CPAs & Advisors different from other Certified Public Accountants in Chicago, IL? +
We specialize in nonprofit and health-center reporting, with partner and manager review, clear request lists and regular updates. Our Chicago CPA team helps leadership understand the audit process and the information needed at each stage.
Do you provide support for Form 990 and grant reporting? +
Yes. We provide Form 990 preparation and filing and support with grant accounting and reporting. We align the work with your funding sources, financial records and applicable filing requirements.
Can you help with outsourced bookkeeping for a new company or franchise? +
Yes. Our outsourced bookkeeping and full-service accounting supports new companies, franchises and growing businesses with reconciliations, transaction records, payroll support and financial reporting.
Get In Touch
Get in Touch with us.
Schedule your free consultation today. If you’re in Chicago or managing a Not-For-Profit remotely, we’re here to help.
Address:401 N. Michigan Ave. Suite 1217, Chicago, IL 60611
Email us:msheikh@soscpas.com
Call us:(312) 312-7272