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Recent Posts by John Mulvaney

4 Steps to Restoring Your Not-For-Profit’s Reputation after Financial Fraud
Posted by John Mulvaney on Wed, Nov 28, 2018 @ 03:29 PM

The risk of significant financial fraud may be lower for not-for-profit organizations than it is for for-profit entities, but its impact can be just as paralyzing.

Not-for-profit organizations represented only 9 percent of the Association of Certified Fraud Examiners’ study of 2,690 fraud cases in its 2018 Report to the Nations. Regardless of the incidence, there’s an obvious financial impact from fraud. Total fraud cases in the 2018 Report to the Nations resulted in estimated losses of $7.1 billion, which the ACFE acknowledged is only a fraction of the true cost of global fraud. The study concluded that the median cost of fraud to not-for-profit organizations was $75,000, but these costs do not include the cost of attorneys, forensic accountants, and other specialists who will be called upon to assist with the investigation.

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Topics: non-for-profit, Non-profits, nonprofit, nonprofit fraud, fraud, John Mulvaney

How Not-For-Profits Can Stay Ahead of Fraud
Posted by John Mulvaney on Wed, May 31, 2017 @ 04:52 PM

Fraud comes with a significant monetary impact. The Association of Certified Fraud Examiners (ACFE) Report to the Nations on Occupational Fraud and Abuse 2016 Global Fraud Study estimates that fraudulent activity costs $6.3 billion in losses, with the average loss per case coming in at $2.7 million. Nearly one in three of the cases in the study occurred in the not-for-profit and governmental arena.

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Topics: non-for-profit, Non-profits, nonprofit, nonprofit fraud, fraud, John Mulvaney

4 Ways Not-For-Profits Can Manage Their Fraud Risks
Posted by John Mulvaney on Tue, Nov 1, 2016 @ 06:28 PM

From volunteers to public donors, not-for-profit organizations are vulnerable to fraud for many reasons. Incidents of fraud, even on a small scale, can be devastating to an organization’s bottom line. In its 2016 Report to the Nations on Occupational Fraud and Abuse, the Association of Certified Fraud Examiners (ACFE) found that 10.1 percent of fraud cases affected not-for-profit organizations, with an average loss of $100,000 per case. The report serves as a reminder that although private and public companies have higher rates of fraud (37.7 percent and 28.6 percent respectively), not-for-profits should nonetheless have fraud prevention measures in place. 

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Topics: John Mulvaney, fraud, not-for-profit, NFP, nonprofit fraud

Toughen Up on Title IX: How to Comply with Your Requirements
Posted by John Mulvaney on Fri, Aug 14, 2015 @ 09:15 AM
Catastrophe happens when an already devastating event—sexual assault in an academic setting—gets mishandled. Failing to comply with Title IX requirements can signal disastrous consequences for the alleged victim, the community, the university’s reputation and its financial backing.
 
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Topics: Title IX, John Mulvaney

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