A quarterly newsletter by Warren Averett, LLC                                              Spring 2013
Welcome
  

Welcome to Warren Averett's First Edition of "Insights for Nonprofits". As our Firm continues to grow (with the recent addition of our Tampa and Atlanta offices), one of the benefits that our clients will enjoy are additional resources. Our Atlanta office has created an insightful newsletter for nonprofits, and we are happy to be able to share the same informative information with you. This issue covers today's sophisticated schemes and fraud trends for nonprofits, tips for taking and presenting board minutes and introduces a new resource for nonprofits who've been awarded a federal government grant or loan. In addition, check out the tips to improve your nonprofit audit RFP template. Enjoy!

  
 
Tammy McGaughy
Not-for-Profit Practice Group Leader
Member, Warren Averett
These Are Not Your Grandparents' Fraud Risks

Whatever happened to the good old days when your chief fraud concerns were someone pocketing cash from the till or writing a check to themselves? Even the infamous Charles Ponzi's then-sophisticated scheme from the 1920s pales in comparison to the antics dreamed up by today's would-be fraudsters.

 

Not to be forgotten, the tried and true check-writing schemes, false credit card receipts or expense reimbursements and fake employees are still alive and well; they routinely rank among the more frequently perpetrated schemes as reported by the Association of Certified Fraud Examiners (ACFE) in their Report to the Nations study on occupational fraud and abuse. But traditional schemes have moved into the next generation and grow more complicated and difficult to detect. The traditional scams are also joined by more high-tech and far-reaching methods that involve identity theft, data intrusion, phishing and other varieties of cybercrime. Link

Tips to Improve your Nonprofit Audit RFP Template

Is your organization planning to put your nonprofit audit services out to bid this year? The AICPA and various other nonprofit industry associations offer free downloadable templates for nonprofit audit RFPs (requests for proposal).

 

These templates are very thorough and conveniently accessible for nonprofit organizations. However, if left untailored they can result in proposals filled with lengthy technical explanations to read and very little "meat" that addresses the core reason(s) you are seeking a new provider.  Link

GAQC Auditee Resource Center

Congratulations! Your nonprofit organization has been awarded a grant or loan from the federal government. Where can you find information about all of the rules and regulations that are tied to your new funding source? Or, perhaps you've been a grantee for years and want to learn about best practices for grant compliance or preparing for an audit. Where can you go for this information?

Link

How Effective Are Your Board Minutes?

Meetings take valuable time, so it's crucial to ensure that board meetings are productive and worth the expense and time involved. Two ingredients necessary for productive meetings are a strong chairperson and accurate minutes. A strong chair has the ability to help the group achieve its goals within a specific time frame, and accurate minutes help participants remember exactly what happened and the details they might have missed during the meeting. Link


Warren Averett, LLC

As one of the Southeast's largest accounting firms, Warren Averett knows that not-for-profit organizations face operational, accounting and tax issues that are as unique as their individual missions. With over 800 professionals and a network of offices throughout Alabama, Florida and Georgia, Warren Averett has the resources to serve the unique needs of your organization.

 

Our Firm has an established Not-for-Profit Services Group made up of experienced Members and Managers who focus their practice in this industry. Warren Averett's committed team offers the hands-on experience and technical skills to serve the distinct needs of our not-for-profit clients. Warren Averett has the ability to look beyond the numbers and help you plan for your organization's future.

 

Warren Averett is dedicated to providing not-for-profit organizations valuable recommendations relating to all aspects of the industry, allowing you to breathe easily and focus more time and energy toward delivering on your promise to the community.

 

 

 

  

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

ALABAMA |  Anniston  |  Birmingham  |  Cullman  |  Fairhope  |  Foley  |  Huntsville  |  Montgomery

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To ensure compliance with requirements imposed by the IRS, we inform you that any U.S. federal tax advice contained in this communication (including any attachments) is not intended or written to be used, and cannot be used, for the purpose of (i) avoiding penalties under the Internal Revenue Code or (ii) promoting, marketing or recommending to another party any transaction or matter addressed herein.

  

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