Nonprofits without audit committees risk financial disaster
In the wake of Enron and other business scandals, the audit committee t of a company's board of directors has resurfaced as a key tool for reventing fraud and ensuring sound financial management. But in the nonprofit world,
Financial improprieties are not limited to for-profit enterprises. Nonprofit organizations have also had to weather recent headline-grabbing scandals, such as:
* American Red Cross-The agency faced scalding publicity and a management crisis when it was accused of diverting funds that had been donated for victims of the 9/11 attacks.
* United Way of the National Capital Area
The entire board of directors was replaced after allegations that the organization inflated fundraising figures and understated overhead costs, that it double-dipped on administrative fees and that its executives abused expense accounts.
In addition, make sure to read these articles:
- Letters to the editor
- Nonprofits without Audit Committees: RISK DISASTER
- Merger Is Good News for Nonprofits
- Nonprofits Lack Innovation, Survey Finds
- Do Nonprofits Make a Difference in Healthcare?
- Nonprofits Are Finding Success with Business Ventures
- NCNA Seeks to Strengthen Nonprofits
- Business Ventures for Nonprofits: More than One Path to Success
- Most Nonprofits Will Increase IT Spending
- Cities turn to nonprofits for contributions.
- Should Nonprofits Perform For-Profit Activities?
- More Budget Cuts for Nonprofits
- Coordination among nonprofits.
- Monitoring Nonprofits for Fraud
- Nonprofits Are Key to Welfare-to-Work Success
Email
Digg It
del.icio.usBusiness Resources
Sponsored Links
Site Map | Contact Us | FAQs | About Us | Media Kit | Reprints | RSS Directory | Sign Up for Free Newsletters | Disclosure Policy
Copyright © 1999 - 2008 AllBusiness.com, Inc. All rights reserved.
No part of this content or the data or information included therein may be reproduced,
republished or redistributed without the prior written consent of AllBusiness.com.
Use of this site is governed by our Copyright and Intellectual Property Policy, Terms of Use Agreement and Privacy Policy.
Provided by ProQuest, LLC. All rights Reserved.
You may not repost, republish, reproduce, package and/or redistribute the content of this page,
in whole or in part, without the written permission of the copyright holder.
Online Business Database | Online Business Information | Email Marketing Lists | Sales and Marketing Solutions | Business Mailing Lists
AllBusiness.com, its parent company D&B, and its affiliates.
