New accounting standards underscore the board’s overarching fiduciary duty to be familiar with and ensure the protection of, financial resources. This Webinar reviews basic internal control procedures that divide responsibilities clearly between the board and the staff to create a series of checks and balances that reduces the possibility of fraud, theft and other mismanagement of funds. Audit committees also play a role in protecting a nonprofit’s financial health. Watch this Webinar if you have questions whether or not your organization really needs an audit committee and how to cultivate financially literate board members to serve on the finance and audit committees.
Watch this Webinar to answer such questions as:
- Does our nonprofit need an audit committee and what would its role be?
- Who should be on the audit committee?
- How can we increase the financial literacy of our board?
- What roles do fiscal policies/accounting procedures play in a board meeting?
- Where do the staff’s role end and the board’s role begin in overseeing financial transactions?
- What should staff and board members know about SAS 112, the new accounting standard?