Credit card use – Having a policy can thwart misuse

Description

Abstract: When it comes to fraud in any organization, credit cards are frequently a fraudster’s tool. And credit card use is so commonplace today that there’s always the risk of improper charges to an account. This article addresses the important first step in protecting a nonprofit against credit card misuse — developing a credit card use policy. Important components of a policy, documentation and credit card statement reconciliation are discussed.