Article

Top tips for NFPs from the 2022 conference season

Jan. 26, 2023

If you were fortunate enough to get out in 2022 to attend a conference that enriched and energized you or your staff, then we hope you are planning with your team to put the tidbits you took away into action for 2023. If you weren’t able to make it to a conference, then we have you covered.

Here are some of the top tips and takeaways we compiled during our conference travels that could be beneficial for your not-for-profit organization.

Fraud – Unfortunately, fraud continues to trend in headlines for not-for-profit organizations. As headcount shrinks and more people go remote, there are many challenges to make sure you stay on top of reducing the risk of fraud:

• According to the 2021 Association of Certified Fraud Examiners (ACFE) Annual Report – 42% of fraud is reported from tips by employees/vendors/customers
• Adopting a whistleblower policy and providing a way for people to report suspected fraud easily and anonymously is a great way to pinpoint fraud and respond swiftly to minimize damage, both financially and reputationally
• Learn more tips and tricks from Baker Tilly’s full presentation here - Fraud prevention and detection: leading practices to protect you not-for-profit - Baker Tilly
• Or join us for Baker Tilly's Fraud Summit 2023

Audit prep – If you are a calendar year-end, you are likely in the throes of audit prep. Here are some tips we took away from Baker Tilly’s recent presentation at Sage Transform on how to take your audit process paperless:

Try to digitize as much as possible –

• Document policies and procedures
• Develop narratives and flow charts for key processes
• Show access to source documentation

Get all team members involved –

• Delegate and empower different departments to prepare for the audit
• Use checklists to track target dates and assign responsibilities

The information provided here is of a general nature and is not intended to address the specific circumstances of any individual or entity. In specific circumstances, the services of a professional should be sought. Tax information, if any, contained in this communication was not intended or written to be used by any person for the purpose of avoiding penalties, nor should such information be construed as an opinion upon which any person may rely. The intended recipients of this communication and any attachments are not subject to any limitation on the disclosure of the tax treatment or tax structure of any transaction or matter that is the subject of this communication and any attachments.

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