Audits and internal controls – two common terms in the finance and accounting world. Whether an organization is large or small, and no matter the mission, there are certain policies and procedures that must be invoked to protect an organization’s cause and community.
The National Council for Nonprofits best describes the goal of internal controls as, “the creation of business practices that serve as ‘checks and balances’ on staff (and sometimes board members) or outside vendors in order to reduce the risk of misappropriation of funds/assets.” Without prescribed controls and policies in place, an organization can easily put itself at risk for audit issues, fraud, and negative perception from donors.
Implementing a set of internal controls can seem arduous, so we’ve put together this resource guide to help nonprofits and consultants alike establish best practice principles, policies, and procedures.
From setting the right control environment to proper segregation of duties policies, “Internal Controls for Nonprofits: Best Practice Principles, Policies, and Procedures” is your lifeline and resource guide to:
- Setting the right control environment
- Administering proper segregation of duties
- Process documentation
- How to adequately monitor operations and maintain consistency
Plus, many more tips and tricks to operating efficiently and effectively for nonprofits.