In this insightful session, experts from Sikich explore the unique fraud risks not-for-profit organizations face. They show that internal controls and professional skepticism are key to mitigating these risks. Case studies and practical recommendations are used to highlight how leaders can strengthen their defenses when managing mission-driven priorities and resource constraints.
Key Takeaways:
- Not-for-profits face elevated fraud risk due to limited resources, mission-driven priorities and gaps in financial oversight.
- Common schemes include misappropriation of donations, manipulation of financial reporting and fraudulent vendor activity.
- While audits can deter fraud, they aren’t designed to detect intentional misconduct, making professional skepticism essential.
- Strengthening internal controls through training, hotlines and leadership accountability is critical for effective fraud prevention.
This publication contains general information only and Sikich is not, by means of this publication, rendering accounting, business, financial, investment, legal, tax, or any other professional advice or services. This publication is not a substitute for such professional advice or services, nor should you use it as a basis for any decision, action or omission that may affect you or your business. Before making any decision, taking any action or omitting an action that may affect you or your business, you should consult a qualified professional advisor. In addition, this publication may contain certain content generated by an artificial intelligence (AI) language model. You acknowledge that Sikich shall not be responsible for any loss sustained by you or any person who relies on this publication.
