Fiscal oversight: Is your board making the grade?
Abstract: Nonprofits may not face the same government regulations or public scrutiny as for-profit public companies do, but that doesn’t mean they can afford to get slack about financial governance. Donors, watchdog groups and the media are paying increased attention, and many nonprofits now have both finance and audit committees. This article discusses the role they play and how best to staff them. A sidebar looks at the different responsibilities of finance and audit committees.