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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

 


Amy is more than an auditor for CFED. She is a valuable business advisor helping us navigate through complex regulations and opaque guidance.

Adnan Bokhari |  Chief Financial Officer
The Corporation for Enterprise Development