Establishing Nonprofit Internal Controls
Presented by Cheryl Smith
The risk of fraud is a serious concern for all nonprofits, but fraud can be particularly damaging to a smaller nonprofit organization, for which money lost can financially cripple or even cause the nonprofit to close its doors. In addition, depending on the nature of the fraud, it can also damage the reputation of the nonprofit, leaving devastating long-term consequences.
Regardless of your mission or size, all nonprofit organizations should establish policies and procedures that mitigate your risk for theft and misuse of funds.
What you’ll learn:
The cost associated with fraud.
Why nonprofits, especially small nonprofits are vulnerable to fraud.
Which types of fraud Nonprofits are (particularly) vulnerable to?
The most common fraud schemes.
Which internal control policies can and should be established immediately.
What to look for when monitoring for fraud.
Which resources are available right now to expand your knowledge on internal controls.