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Mapping the Risk Landscape for Not-For-Profits and Higher Ed
Posted by Chrissy Hammond on Thu, Nov 21, 2019 @ 08:00 AM

It is not possible for not-for-profit organizations and higher education institutions to prepare for all the risks they could face in the coming year. At some point, you have to make decisions about which risks have the highest chance of occurring or would have the highest monetary or operational impact if the risks happened.

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Topics: not-for-profit, NFP, risk, risk management, Not-For-Profit Risk Management, risk mitigation

3 Reasons Not-For-Profits Should Make ERM a Higher Priority This Year
Posted by Bart Kimmel on Thu, May 2, 2019 @ 08:17 AM

Your not-for-profit organization’s internal and external stakeholders are growing more sophisticated. They want to know that your not-for-profit is managed responsibly, meets its mission and that it is both efficient and resilient to its risks. Board members, employees, donors—and even to an extent, the public and the media—want to see how well your organization is being run.

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Topics: enterprise risk management, not-for-profit, NFP, risk management, Not-For-Profit Risk Management, ERM

Revitalize Your Audit Committee Charter: A Self-Evaluation for Not-For-Profit Organizations
Posted by Tracey McDonald on Tue, Jun 20, 2017 @ 12:47 PM

Audit committees for not-for-profit organizations do much more than what their name suggests. In addition to their primary focus of overseeing all aspects of the audit process, they are increasingly  tasked with oversight of the not-for-profit’s enterprise risk management process and other risk mitigation activities.

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Topics: Audit Committee, Non-profits, Not-for-Profits, NFP, audit risk, Not-For-Profit Risk Management, ERM

Changing and Enhancing Not-For-Profit Risk Management
Posted by Mike Burns on Wed, May 25, 2016 @ 12:43 PM

Adapted with permission of The CPA Journal, Copyright © 2016, April, 2016.

Over the last several years, audit committees have fine-tuned their oversight relative to internal controls and financial reporting, but as this process has matured, many committees are asking broader questions about risk and risk oversight. In fact, audit committees are increasingly charged with understanding overall risks, assessing which risks are the most important, and making sure that the existing management and governance structures are designed to mitigate, manage, and oversee these risks. This evolution corresponds to changes in the not-for-profit risk environment as a whole.

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Topics: accounting, Non-profits, NFP, Mike Burns, risk management, The CPA Journal, Not-For-Profit Risk Management

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