(A White Paper from Crowe Horwath CPA)
The risk of fraud is a serious concern for all types of enterprises, but fraud can be particularly damaging to a not-for-profit organization, for which a damaged reputation can have devastating consequences. In addition to setting the right "tone from the top," the officers and governing board of a not-for-profit organization must take the lead in establishing and maintaining a formal fraud risk management program, which must include a fraud risk assessment designed to identify certain vulnerabilities and internal control gaps that could leave the organization exposed to financial and reputational damage. This Crowe Horwath publication provides example red flags, and suggestions for assessing fraud risks within your organization.
1 comment:
Financial management includes various steps like setting up, and following a budget. Financial advisor helps their clients to aware them about the balance of investment profits and prevent them from any financial risk.
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