Resource Results for "Finance Risk and Oversight"
Risk Categorization: Learning from the Risk Leadership Certificate Program
By Erin Gloeckner Our Risk Leadership Certificate Program (RLCP) is underway. With our RLCP cohort, we’ve enjoyed productive generative discussions about core competencies for risk professionals, including risk assessment, risk culture, risk function design, and insurance program oversight. With each conversation, we challenged our understanding of risk management best practices, like risk categorization. Prior to … Continued
Fiscal Oversight, Risk and the Nonprofit Board
One of the most important responsibilities of a nonprofit board is fiscal oversight. Yet many board members remain unclear about what exactly that means. This webinar will explore the board’s role in providing fiscal oversight and risk oversight. Attend this program to learn more about these important responsibilities and how to inspire the board to … Continued
Financial Risk Management for Nonprofits
The regulatory spotlight on fiscal oversight and finance-related risks has caused some leaders to sweat more than usual. This webinar will explore some of the recurring and evolving financial risk management challenges facing nonprofits across the sector. Learn what your organization can and should do to keep cool in a challenging environment. Topics that will … Continued
Sensible Risk Resolutions for 2016
January 6, 2016 By Melanie Lockwood Herman Each year, many Americans adopt unrealistic New Year’s resolutions. My first resolution for 2016 was to stop booking business trips that require late evening departures or landings. I was a bit surprised to learn that, according to the Statistic Brain Research Institute, 75% of people who make a … Continued
The Nitty Gritty of a Risk Committee
By Melanie Lockwood Herman “Let’s form a committee!” is the frequent battle cry of nonprofit leaders facing a complex problem for which there are no obvious, immediate or cheap solutions. When more than one brain is needed to ponder a perplexing problem, forming a committee seems to be a good first step. But are risk … Continued
Liability and the Board: What Governing Teams Need to Know
By Melanie Lockwood Herman With more than 1.5 million registered, tax-exempt organizations in the U.S., it’s likely that many times that number of Americans currently serve on nonprofit boards. Board service involves a commitment of time, attention, enthusiasm, and in many cases, a personal financial contribution. When you serve on a board you’re likely to … Continued
Fiscal Responsibility and Oversight: Empower Your Board to Lead
By Melanie Lockwood Herman (This article is excerpted from the Center’s brand-new book, Financial Risk Management: A Guide for Nonprofit Executives. Order your copy.) While it is rare in a mature nonprofit for a board member to perform day-to-day bookkeeping or financial management duties (such as making journal entries or signing checks), board members exercise … Continued
IN is OUT, and OUT is IN Outsourcing the Finance or Accounting Function in a Nonprofit
By Alex Ricketts Fiscal Outsourcing Outsourcing financial tasks has become a popular trend in the nonprofit sector. Common reasons nonprofit leaders outsource some or all of their financial management responsibilities include: to gain access to expertise the nonprofit doesn’t require on a full-time basis, to reduce the cost of financial management activity, and to enable … Continued
New Audit Standards May Feel Like a Foreign Landscape
Has your auditor given you a call about the new audit standards under Statement on Auditing Standards, No. 112 (“SAS 112”)? Officially known as “Communicating Internal Control Related Matters Identified in An Audit,” the new requirements will be unfamiliar to many nonprofits that receive a management letter identifying “significant deficiencies” or “material weaknesses” in internal … Continued
Fiscal Responsibility and Oversight: Empower Your Board to Lead
By Melanie Lockwood Herman (This article is excerpted from the book, Financial Risk Management: A Guide for Nonprofit Executives. While it is rare in a mature nonprofit for a board member to perform day-to-day bookkeeping or financial management duties (such as making journal entries or signing checks), board members exercise overall responsibility for the fiscal … Continued