7 Best Practices for Small and Mid-Sized Not for Profit Organizations Looking to Establish Strong Internal Controls

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For many small and mid-sized not-for-profit organizations (NPOs), the safeguarding of organizational assets from fraud and misuse, as well as managing the organization’s financial risks, are often touted reasons for wanting to develop and implement a strong system of internal control.   Boards and Executive management of NPOs must often balance this desire for strong internal control against both budgetary and human resource constraints.  Despite these challenges, management and those charged with governance can still establish effective policies and procedures to effectively manage the risks of financial loss without compromising operational agility or efficiency.

This months newsletter describes 7 best practices for NPOs looking to establish strong internal controls.