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Tag Archives: nonprofit
The Benefits of Establishing and Communicating Written Policies and Procedures for Non-Profit Organizations
No matter the size, structure, or mission, a non-profit organization can benefit from developing written policies and procedures and making them accessible to employees. While we often use these terms interchangeably, there are distinct differences between the two. Policies create … read more
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Tagged audit, compliance, internal controls, Makenzi Johnson, nonprofit, NPO, policies and procedures
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Information Technology Controls for Non-Profit Organizations
A common struggle with smaller organizations is building adequate internal controls, particularly over information technology. While a small entity may not have the same resources as a larger organization, it does have the same responsibility to protect crucial customer, employee, … read more
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Tagged audit, computers, information security, internal controls, IT, Makaela Clapp, nonprofit, NPO
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Calendar Year End Reminders
As we turn the calendar to a new year, there are several calendar year end reminders to bump to the top of your to-do list. Payroll Reminders and Updates W2’s must be filed with the Social Security Administration and mailed … read more
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Tagged 2024, accounting, Arizona, government, HR, Karin Smith, nonprofit, payroll, school district, taxes, year end reminders
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Useful Ratios for Liquidity Analysis for Nonprofits
Liquidity ratios are useful tools that can be used to assess a nonprofit organization’s ability to cover its short-term financial obligations and to analyze its financial situation. Liquidity is the ability to convert assets to cash in a very short … read more
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Tagged assets, Eric Taylor, financial statement, fixed assets, liabilities, liquidity ratio, nonprofit, NPO
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SEFA 101
For organizations requiring a Single Audit, preparing the Schedule of Expenditures of Federal Awards (SEFA) is the first and most crucial step in the process. Without an accurate SEFA, your audit firm will not be able to identify the appropriate … read more
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Tagged annual audit, federal programs, financial report, government, Kristen Conway, nonprofit, NPO, schedule of expenditures of federal awards, SEFA, Single Audit
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Preventing Fraud in the Era of Remote Work
Remote work has become more prevalent within organizations within the last few years. Remote work has many benefits such as increased productivity and a decrease in turnover. However, there are additional risks regarding fraud associated with remote work. The main … read more
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Tagged ACFE, Antonio Romero, fraud, fraud prevention, internal controls, leadership, nonprofit, NPO, policies, procedures
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DIY Audits for Nonprofits
Small nonprofit organizations often want to undergo an annual audit, because an audit can be a great tool to demonstrate transparency, compliance with policies and procedures, and ensure the financial house is in order. However, for many small nonprofits, the … read more
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Tagged financial audit, internal audit, internal controls, Jill Shaw, nonprofit, NPO, operations, review
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