Purchase Solution

Nonprofit Organization Internal Controls

Not what you're looking for?

Ask Custom Question

In an NPO, what could be the causes of situations ie: federal income tax forms not completed correctly, months delays in paying vendors and departments are late reporting transaction and failing to place in the financial reports?

What would some recommendations be to prevent this from happening?

If you could point me to some references, that would be great. Thanks in advance

Purchase this Solution

Solution Summary

This solution discussed nonprofit organization internal control measures in order to prevent future situations from occurring.

Solution Preview

The causes of situations in an NPO are important. A lack of people are present to assist with the finances of the business, especially if it is small. The checks are not numbered. No software is used to keep track of statements. Vital information is not locked away in a safe location for only certain personnel to use whenever it is needed. Too many individuals have access to company checks. Everyone gets to sign the checks. Multiple invoices are used and vendors. A vendor is paid without the necessary paperwork. Nothing is marked as paid. Procedures are not in place for wire transfers. The program for using positive pay is not in place. Multiple people are receiving the bank statements. ...

Purchase this Solution


Free BrainMass Quizzes
Six Sigma for Process Improvement

A high level understanding of Six Sigma and what it is all about. This just gives you a glimpse of Six Sigma which entails more in-depth knowledge of processes and techniques.

Balance Sheet

The Fundamental Classified Balance Sheet. What to know to make it easy.

Situational Leadership

This quiz will help you better understand Situational Leadership and its theories.

Academic Reading and Writing: Critical Thinking

Importance of Critical Thinking

Marketing Management Philosophies Quiz

A test on how well a student understands the basic assumptions of marketers on buyers that will form a basis of their marketing strategies.