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Avoid Fraud with Effective Policies and Controls

Audit Partner Terri McKnight provides an overview of key steps nonprofits can take to develop effective policies and controls, and protect against fraud. Included in this article, which appeared in the American Society of Association Executives’Associations Now publication, are these recommendations:

  • Perform a risk assessment to identify vulnerabilities
  • Address the overall control environment
  • Don’t let reduced staffing levels affect controls
  • Regularly reconcile accounts
  • Maintain supporting documents
  • Review IT department controls
  • If fraud has occurred, prosecute

 


“We are a smaller client for Gelman, Rosenberg and Freedman, but they take our business seriously and never fail to make us feel important.”

Marcia Zier |  Vice President
Interactive Drama, Inc.