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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, ERM, audit risk, Not-For-Profit Risk Management, Non-profits, Not-for-Profits, NFP

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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