Risk Assessments for Non-Profit Organizations

Description

At a time of tough oversight by government, standard-setting agencies, investors and donors, nonprofit organization (NPO) management is seeking outside risk management assessments or audits from their accounting advisors.

Advisors must be prepared to thoroughly scrutinize a non-profit's particular business operations and donor market risks. This far-reaching assessment must cover everything from internal controls and governance decisions to insurance coverage — and how well each anticipates the NPO's special risks.

The risk assessment is a critical management tool for NPO leaders, and thus demands considerable staff time and expertise from the outside advisory firm. Best practices from peer advisors experienced with risk assessments for non-profits can help your firm fine-tune its review process.

Listen as our panel of experienced non-profit accounting advisors prepares you for the realities of well-calibrated risk assessments and offers suggestions for conducting a more thorough, value-added assessment.

Outline

1. Background: Why risk assessments are in demand from non-profits
   1. Influence of Sarbanes-Oxley and corporate scandals
2. Elements of a non-profit’s risk assessment
   1. Frequency
   2. Identification of operational risks and controls
   3. Identification of financial risks
   4. Identification of marketplace risks
   5. Insured vs. uninsured risks
3. Best practices for conducting the assessment
   1. Gap analysis

Benefits

The panel will address these and other relevant topics:

• Identifying the particular operational, finance and marketplace risks facing a non-profit.
• Mastering the key elements of a thorough non-profit risk assessment, and avoiding gaps from others' reviews.
• Following best practices in conducting the assessment.
• Helping the non-profit's management mitigate the identified risks.

Upon completing this seminar, an attendee will possess a thorough understanding of the necessary elements of a non-profit risk assessment or audit, and the steps in conducting a well-executed review.

Webinar/Teleconference

Strafford webinars/teleconferences offer several options for participation: online viewing of speaker-controlled PowerPoint presentations with audio via computer speakers or via phone; or audio only via telephone (download speaker handouts prior to the program).  Please note that our webinars do not feature videos of the presenters.

NASBA CPE Sponsor

Strafford is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be addressed to the National Registry of CPE Sponsors, 150 Fourth Avenue North, Suite 700, Nashville, TN, 37219-2417 or by visiting www.nasba.org.

CPE Credit

Strafford is a NASBA CPE sponsor and our live seminars qualify for CPE credits. They offer you a high quality, cost effective, and convenient CPE option, with no lost travel time or expenses.