Today, many non-profit organizations mistakenly assumed that their employees and volunteers wouldn’t steal from them. Several organizations have been misguided in setting up controls with regards to safeguarding funds. Many non-profit organizations become breeding ground of fraudulent activities because of this lax control (Yetman, 2008)
Implementing and monitoring good internal control management will help to guarantee that nonprofit organization reach their objectives, for example by providing services to the community professionally, while utilizing resources efficiently, minimizing and reduce the risk of fraud, mismanagement or error (Morehead, 2007). It would contribute nonprofit organization presenting the efforts and accomplishments and help to obtain financial and social support (Torres and Pina, 2003). …show more content…
The purpose of internal control is to help employees and other partner understand the attitude and objective of the organization. It also provides reasonable assurance to the community that transactions are recorded properly and in a timely manner (Kendra,
Implementing and monitoring good internal control management will help to guarantee that nonprofit organization reach their objectives, for example by providing services to the community professionally, while utilizing resources efficiently, minimizing and reduce the risk of fraud, mismanagement or error (Morehead, 2007). It would contribute nonprofit organization presenting the efforts and accomplishments and help to obtain financial and social support (Torres and Pina, 2003). …show more content…
The purpose of internal control is to help employees and other partner understand the attitude and objective of the organization. It also provides reasonable assurance to the community that transactions are recorded properly and in a timely manner (Kendra,