Season 6 · Episode 58
Segregating Duties to Avoid Financial Risk
Nonprofit Ace Podcast · nonprofitnuggets
April 27, 20215m 17s
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Show Notes
Separating responsibilities amongst team members is an important step in preventing financially fraudulent situations and reduces the risk for the organization. Nonprofits need to have systems in place to prevent one person from becoming overwhelmed with their responsibilities and making mistakes. Creating this segregation can make quite the difference in preventing minor mistakes from becoming much larger ones.
Highlights
- Creating checks and balances to ensure accountability
- Logbooks and accounting systems for financial recording
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