Why Your Nonprofit Needs Internal Controls
All nonprofit organizations, regardless of size, need to fulfill three basic fiduciary duties: employees and the board understand the financial responsibilities of the organization, the organizational assets need to be managed properly, and the charitable mission must be carried out properly. To ensure these duties occur, all nonprofits should have a system of internal controls in place.
Internal Control Environment
Numbers 4 Nonprofits works with our clients to establish effective internal controls aimed at protecting both their assets and their mission. We help nonprofit administrators and boards be responsible and accountable to those they help, their donors, and the public.
We will work with you and your organization to establish key internal controls in the areas of accounting and financial management.. We will also discuss best practices for general organizational and information technology controls. We will help you create policies for reliable reporting as well as ensure your organization is complying with laws and regulations.
Creating an efficient control system will begin with the basics: who has authority and gives approval? How is paperwork filed and/or disposed of properly? How secure is “cash-on-hand”? Creating a safe internal control environment helps all organizations see if there is any possible wrongdoing well before it might cause a financial emergency. Everyone must follow the established procedures for the controls to work.
Numbers 4 Nonprofits wants to be your trusted consultant to help identify any financial weaknesses that could put your organization at risk.