by Denise Henning, CPA
Gone are the days of receiving bank statements, bills, invoices, donor contributions, and other correspondence mailed through the USPS. Today we download bank statements the day after the month ends, bills come in via email, contributions are made online, and most correspondence happens on a digital platform. Combining these new challenges with the chronic understaffing associated with nonprofits, you probably wonder how your organization can maintain internal controls in this electronic environment.
Here are the top five internal control areas most affected in this digital age.
Regularly reviewing and updating internal controls will ensure that organizational assets are safeguarded, financial statements conform with generally accepted accounting principles, and finances are managed with responsible stewardship.
Denise Henning is a CPA and former rescue mission CFO. She currently serves as a financial consultant and subject matter expert to Citygate Network members across the country.
The 300+ organizations in Citygate Network membership seek to move people in desperate situations and destitute conditions (i.e., hungry, homeless, abused, and addicted) from human suffering to human flourishing through the process of gospel-powered life transformation. If you or someone you love is in need of Christ-centered compassion and care, please visit our member locator page today to find a mission near you.
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