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Fraud Report from the Trenches – 4 Tips for Boards and Management

by John Cohen
Nonprofit and For-Profit companies continue to have Controllers, CFO’s, and Executive Directors departing from their organizations “under a cloud” (usually a lightning cloud).  This leads us to think one of our Best Value client services is our Internal Control Review of Major Accounting Policies, Procedures, and Controls.  With just a few days work, we provide Senior Managements and Boards of Directors with an independent third party evaluation of their entity’s accounting efficiency, effectiveness, and exposure. Continue reading Fraud Report from the Trenches – 4 Tips for Boards and Management →

Why Nonprofits Should Consider Accounting Procedures Manuals Mandatory

(Boston, MA – August 30, 2011). In the last month alone, the Massachusetts Office of the State Auditor has issued two audit reports highly critical of the operations and internal control of two large agencies receiving Federal and State funds. As a result, the State is asking that hundreds of thousands of dollars be returned. In both situations the audit reports cited internal controls as a major element. Continue reading Why Nonprofits Should Consider Accounting Procedures Manuals Mandatory →

How to Avoid Some of the Most Common (and Expensive) Findings from an IG or State Audit

(Boston, MA – October 16, 2011) An audit by a federal IG (Inspector General) staff or any government audit is under the best of circumstances a disruption to your agency’s operations – sometimes for months – and cause for concern. Even the most assiduous amongst us make innocent mistakes (or incorrect interpretations), and the thought of having to return money spent with good intentions is not pleasant. Continue reading How to Avoid Some of the Most Common (and Expensive) Findings from an IG or State Audit →