COVID-19’s Lasting Effects on Nonprofits – Audit and Tax Issues
The pandemic may have also affected the operation of internal controls at your organization. For example, if staff members were laid off or terminated, controls designed for segregation of duties may not have operated effectively. Likewise, increased health and financial insecurity may have increased the motivation of some individuals to commit fraud.
Surviving a Crisis and Planning for What’s Ahead
Since the pandemic began, many businesses have experienced temporary shutdowns, supply chain issues, reduced cash flow and a chaotic Paycheck Protection Program (PPP) loan process – just to name a few of the challenges. To survive uncertain times like these, and plan for a brighter future, follow this blueprint.