Budget cuts: Don’t make internal controls one of them

Description

Abstract: These days, most nonprofits are tightening their budgets to ensure that they’re operating as cost effectively as possible. But certain items should never be neglected just to save a little money today — and one of the most important is adherence to internal controls. This article discusses necessary controls and why outside advice is necessary to protect against fraud. A sidebar looks at the Federal Trade Commission’s red flag rules for fighting identity theft that are scheduled to take effect on Nov. 1, 2009.