Finance departments are facing many challenges in this new reality
The New Year brings a New Reality to nonprofit organizations. Working arrangements for staff, physical workspace and daily operations have changed. The changes present the following challenges:
Is your nonprofit's finance department prepared to face the challenges of a post-Covid-19 world? Here are some of those challenges:
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.