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Internal controls are essential to any organization in order to ensure accurate financial reporting, compliance, and operational effectiveness and efficiency.
One of the key components to strong and effective internal controls are the control activities, the policies and procedures that carry out an organization’s internal control framework. A solid framework and proper control activities derive from:
- Setting the control environment
- Segregation of duties
- Process documentation
- Monitoring operations
- Maintaining consistency
Read the Internal Controls for Nonprofits guide to learn best practices for the most common components to running proper internal controls.
Download the guide today!