Tips for a Successful Nonprofit Audit
Preparing for your not-for-profit audit might seem daunting. Here are a few tips you can use to help the process go smoothly.
Tips for a Successful Nonprofit Audit
Preparing for your not-for-profit audit might seem daunting. Here are a few tips you can use to help the process go smoothly.
Telling your Non-Profit’s Story with Form 990
Many organizations view this requirement solely as a compliance function – a box to be checked once per year. But, considering these filings are public information and many donors and grant making organizations will review them before making contributions, it’s wise to be proactive in considering what information gets reported.
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.
COVID-19’s Lasting Effects on Nonprofits – Management and Governance
Probably the single most important management issue put in the spotlight by the pandemic has been cash management. Nonprofit managers should focus on building their operating reserves by reviewing billing and collection processes, as well as implementing cost reduction strategies.