How can not-for-profit organizations be sure they play by the rules
when the rules aren't clear?
Due to recent, very public accounting scandals and the resulting
Sarbanes-Oxley Act and other regulations, public companies have
strict guidance on financial governance and accounting, including
the functions and responsibilities of audit committee members.
Though not-for-profit organizations are subject to increased
scrutiny, there has been no detailed guidance for their audit
committees. This book fills the void and helps not-for-profit
organizations answer these questions:
* In today's skeptical environment, how can responsible financial
governance and reporting reassure wary donors and supporters, and
perhaps give the organization a competitive advantage?
* How should the audit committee be structured?
* Which Sarbanes-Oxley requirements (if any) should the audit
committee adopt?
* Which best practices best fit the organization's structure and
financial reporting needs?
Complete with checklists, sample questions, and an index for quick
reference, Not-for-Profit Audit Committee Best Practices
covers:
* Different types and unique characteristics of not-for-profit
organizations
* The audit committee's role in preventing and detecting
fraud
* Important internal controls and the internal audit function
* The relationship of the audit committee and the independent
auditor
This heads-up, hands-on guide helps audit committee members select
and structure appropriate best practices and function in the most
effective manner for their unique not-for-profit organizations.
It's also a valuable reference for board members, managers,
independent auditors, and advisors of not-for-profit organizations.
Autorentext
WARREN RUPPEL, CPA, has over twenty-five years of experience in
governmental and not-for-profit accounting. He is the Director of
The Government Services group of Marks Paneth & Shron, LLP in
New York. He began his career with KPMG in 1979, and joined
Deloitte & Touche in 1989. Mr. Ruppel has also served as the
chief financial officer of an international not-for-profit
organization and as the assistant comptroller responsible for the
accounting and financial reporting for the City of New York. He was
the secretary of the city's audit committee for over ten years. He
is the author of many Wiley books, including GAAP for Governments,
Governmental Accounting Made Easy, and Not-for-Profit Accounting
Made Easy. Mr. Ruppel is the Chair of the Audit Committee of the
New York State Society of CPAs. He is a past president of the New
York chapter of the Institute of Management Accounts, and a member
of the Government Finance Officers Association where he serves on
the Special Review Committee.
Zusammenfassung
How can not-for-profit organizations be sure they play by the rules when the rules aren't clear?
Due to recent, very public accounting scandals and the resulting Sarbanes-Oxley Act and other regulations, public companies have strict guidance on financial governance and accounting, including the functions and responsibilities of audit committee members. Though not-for-profit organizations are subject to increased scrutiny, there has been no detailed guidance for their audit committees. This book fills the void and helps not-for-profit organizations answer these questions:
* In today's skeptical environment, how can responsible financial governance and reporting reassure wary donors and supporters, and perhaps give the organization a competitive advantage?
* How should the audit committee be structured?
* Which Sarbanes-Oxley requirements (if any) should the audit committee adopt?
* Which best practices best fit the organization's structure and financial reporting needs?
Complete with checklists, sample questions, and an index for quick reference, Not-for-Profit Audit Committee Best Practices covers:
* Different types and unique characteristics of not-for-profit organizations
* The audit committee's role in preventing and detecting fraud
* Important internal controls and the internal audit function
* The relationship of the audit committee and the independent auditor
This heads-up, hands-on guide helps audit committee members select and structure appropriate best practices and function in the most effective manner for their unique not-for-profit organizations. It's also a valuable reference for board members, managers, independent auditors, and advisors of not-for-profit organizations.
Inhalt
Preface.
1. Background and Regulatory Issues.
2. Establishing an Audit Committee and Determining Its
Charter.
3. Responsibilities of Internal Control over Financial
Reporting.
4. Understanding and Addressing the Risks of Fraud.
5. Defining the Role of the Internal Audit Function.
6. Establishing an Effective Whistleblower Program.
7. Audit Committee's Relationship with the Independent
Auditor.
8. An Audit Committee Action Plan.
Index.