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Avoid Fraud with Effective Policies and Controls
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Nov 1, 2011
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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
David is the consummate professional – knowledgeable, personable, confident, available, and trustworthy.
Thomas V. Draude | Brigadier General, USMC (Ret), President and Chief Executive Officer
Marine Corps University Foundation, Inc.