Best Practices in Enterprise Risk Management
An increasing number of organizations have embraced Enterprise Risk Management (ERM) ― a structured and continuous process designed to provide an organization’s board and senior leaders with a strategic perspective of risks so they can be managed proactively. Read our latest industry report that examines how nonprofit and associations are utilizing ERM best practices to…
Nonprofit Board Members: Role and Responsibilities
The value of a well-informed board of directors at nonprofit organizations cannot be taken for granted. Because board members are usually selected for multiple-year terms, clarifying the function of a board of directors and the responsibilities of its individual members is essential. The basic legal responsibility of a board member is to exercise reasonable business…
IRS Penalties: Running Afoul of the Tax Code Tax
IRS penalties: Running afoul of the tax code The income tax system of the United States is essentially based on the notion of voluntary compliance. You are expected to report and remit the income you’ve earned and the corresponding taxes that are due to the government. If you don’t, or if you don’t comply on…
How to Prepare for an Annual Audit
How to prepare for an annual audit Try not to look at your company’s annual audit as an ordeal designed to complicate your life. Some employees dread the annual audit, but there’s really no reason to view your company’s annual audit in a negative light. In fact, an annual audit is an irreplaceable tool to…