|
A survey of 100 associations last year conducted by RSM McGladrey revealed that many not-for-profit organizations have been slow to adopt governance changes to ensure greater accountability and transparency of operations. With that in mind, McGladrey & Pullen, LLP has completed work on its first comprehensive Audit Committee Guide for Not-for-Profit Organizations. The 43-page document covers everything from how to charter a not-for-profit audit committee to understanding and overseeing the financing reporting, compliance reporting and audit processes. "While the Sarbanes-Oxley Act provided a framework aimed at strengthening corporate governance, increasingly we've found that this framework is being cited and applied in the not-for-profit world," says Brian Schebler, McGladrey & Pullen not-for-profit practice leader. "With hundreds of thousands of associations actively involved in soliciting donors for contributions in the United States, the importance of demanding accountability through the activities of an effective audit committee has never been more important to the success of a not-for-profit's operation," adds Schebler. To that end, McGladrey & Pullen has decided to make its audit guide available free of charge to any not-for-profit interested in creating or improving the effectiveness of an existing audit committee. Committee members can obtain the guide at this link or your local McGladrey & Pullen or RSM McGladrey client server.
|
