GRF Financial Foresight

Insights from the team on the GRF blog

What Every Board Member Should Know about the Financial Statement Audit

By: Omid Mohebbi, CPA | Audit Supervisor As members of a nonprofit board of directors, you and your board colleagues are charged with considering a variety of matters as part of your fiduciary duty to safeguard the organization. Even if you are not part of a designated audit or finance committee, as a member of…

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QuickBooks is an Accounting Software Solution for Some Government Contractors

By: John R. Pace, CPA, CVA | Partner and Director of Outsourced Accounting and Advisory Services Organizations who do business with the federal government or accept federal funding are often discouraged by some in the industry from using Intuit QuickBooks for their accounting. However, our experience serving government contractors has taught us that QuickBooks is…

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An Audit Committee Offers Substantial Value Beyond the Audit

By: Laura Malcom, CPA | Audit Manager Most nonprofit organizations today are led by a volunteer board of directors responsible for helping the group achieve its mission while providing sound governance and financial management1. In keeping with their fiduciary duty to provide effective financial oversight, many boards appoint an audit committee if not already required…

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Developing Our Women Leaders Requires Hands-On Involvement

By Jackie Cardello, CPA | Managing Partner What does it mean to inspire young women leaders? It is much more than lip service to hiring and promoting women and internal policies meant to encourage leadership. While progressive policies, leadership development, and mentoring programs are all important, leading by example is the most powerful message. As…

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Be Prepared: Why Enterprise Risk Management is Essential for Nonprofits

By: Melissa Musser, CPA, CITP, CISA | Risk & Advisory Services Principal Corporations and organizations have long understood the value of systematic planning for worst-case scenarios to avoid unwelcome surprises, known as enterprise risk management (ERM). ERM is a proactive, multidimensional process of identifying, assessing, cataloguing, and preparing for potential negative organizational outcomes in order…

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