New Year Resolutions and Other ThingsJanuary 04, 2013
Internal controls are more important than you might think.
With the New Year upon us, it’s time for resolutions and new beginnings. In 2013, my resolution this year is to make the Mission Matters blog more useful to you and the not-for-profit community. I encourage everyone to send questions, issues, concerns, etc. so that we can address your topics in future blog posts. Commonly, after I speak at a seminar or meeting, I am asked excellent, insightful questions which result in great discussions about the not-for-profit world. Of course, I can’t remember all of these questions and there are many I’m sure you would like to ask.
In other news, this past Saturday USA Today ran a front page article about the amount of dishonesty that was exhibited during 2012. Suggesting that 2012 could even be coined “The Year of the Cheater”. The article mentioned those who made headlines including; Lance Armstrong, David Petraeus, Goldman Sachs, Harvard University, etc., pointing out that dishonesty seems to be increasing rather than decreasing. The importance of developing and implementing internal controls for your organization has never been more important.
I recently read an article that mentioned that more and more nonprofit organizations are spending more than they receive in revenue. In 2013, I am making an effort to instruct my clients on the importance and necessity of internal controls. Internal controls help to ensure your organization is operating in the most secure and efficient way possible and will help you detect suspicious employee behavior. From what we have seen and read in the news over that past year, nonprofit organizations in particular, need to be taking preventative steps to help reduce and even eliminate business risks and fraudulent activity.
I look forward to receiving your questions and comments and blogging about your fresh, new material in 2013. Happy New Year! For more Not-for-Profit information visit the NFP Services page on our website or contact any member of the KLR Not for Profit Services group.
As one of the largest CPA firms in Boston, KLR is unique because they service over 220 not-for-profit organizations with compliance and consulting services. We have extensive experience helping Nonprofit organizations regarding boards, and board responsibilities, charitable contributions, taxes and 990 filing requirements. The KLR Nonprofit team is active in our local community and not-for-profit organizations, visit our Facebook page to see photos from our latest volunteer event.