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Blog

It’s Time For An Assessment Of Your Nonprofit’s Finance Operations

4/25/2022

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​With cybersecurity concerns, the advent of remote working and the increased risk of fraudulent activity, an independent assessment of your nonprofit’s finance operations is essential. Perhaps your staff is too busy with day-to-day tasks and deadlines to review and evaluate your procedures. They may find it easier to continue doing things the way they have always been doing them.

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A Recent Case: Embezzlement From a Nonprofit: Could This Have Been Prevented?

3/15/2022

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Former Nonprofit Employee Sentenced For Embezzlement

Could This Embezzlement Have Been Prevented?
​A former employee of a nonprofit substance abuse rehabilitation center embezzled over $600,000 from the organization by stealing checks made payable to the organization from the desks of other employees and depositing them in a bank account she set up in her own name on behalf of the nonprofit. The former employee pled guilty and was sentenced to three years and four months in state prison and was ordered to pay the nonprofit over $600,000 in restitution.

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5 Missed Steps in the Nonprofit Procurement Process: See How We Assisted One of Our Clients

12/6/2021

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​A nonprofit client downsized their procurement department. This resulted in changes to workflow, staff roles and responsibilities. I was retained to review and evaluate their procurement processes to ensure that there were proper internal controls, efficient workflow and best practices in place. 

I began my assignment by meeting with the procurement team. I reviewed and documented the processes that each member followed. My investigation identified 5 critical missed steps in their procurement processes: 


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Be Proactive Not Reactive: Preparing Your Nonprofit for Post Covid-19

7/26/2021

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Is your nonprofit's finance department prepared to face the challenges of a post-Covid-19 world? Here are some of those challenges:
  • Increased risk of fraudulent activity
  • Operating in a virtual workplace
  • Downsized workforce
  • Digital transformation 
  • Increased demand for financial data and financial reporting

Do not wait until a problem arises…It may be too late!
​

Some questions your finance department should consider and actions they should undertake: ​
​Did your operating processes change due to a downsized workforce?
Review and document your operating processes and ensure they include proper internal controls. This will mitigate the risk of fraud and provide for the ongoing operation of the finance department.

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Roberta Katz Consulting
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Copyright © 2021 Roberta Katz Consulting

Roberta Katz Consulting
61-43 186th Street, Suite 606
​ Fresh Meadows, NY 11365 
Phone: (917) 359-1158
Email: robertapkatz@gmail.com
​Website: www.rpkatzconsulting.com

  • Home
  • About
  • Webinars
  • Services
  • Articles
  • eBooks
  • Blog
  • COVID-19
    • Covid-19 & The Importance of Finance
    • Covid-19 & Fraud Risk Mitigation
    • Covid-19 & Financial Reporting
    • Covid-19 Technology & Working Remotely
  • Contact
  • Privacy Statement