Risk Assessments for Non-Profit Organizations

Identifying and Mitigating Unique Risks to Improve Internal Controls and Transparency

Recording of a 110-minute CPE webinar with Q&A

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Conducted on Wednesday, February 10, 2010

Recorded event now available

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Course Materials

This course will review the factors an accounting advisor must include to ensure a well-executed risk assessment or audit tailored to the non-profit organization.

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.

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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.

Faculty

Melanie Lockwood Herman
Melanie Lockwood Herman
Executive Director
Nonprofit Risk Management Center

Her organization specializes in risk management consulting and projects for non-profits. She is the author of more than...  |  Read More

Melanie Gray
Melanie Gray
Director of Quality Assurance, Human Resources and Risk Management
Doorways for Women and Families

She joined the non-profit in 2008 and has 11 years of experience in the field of preventing child abuse and neglect. In...  |  Read More

Bob Broda
Bob Broda
Founder and Managing Partner
Visage Solutions

The firm provides risk assessments for a variety of clients, including non-profits. Before founding the firm, he was...  |  Read More

Kathy Miller
Kathy Miller
Vice President and Lead Counselor, Non-Profit Practice
Oswald Companies

She established Oswald’s non-profit practice in 2003 and has more than 27 years of experience in the insurance...  |  Read More

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