Why Your Not-for-Profit Organization Needs a Gift Acceptance Policy

When I suggest that a not-for-profit organization should consider adopting a gift acceptance policy, my words are often met with some degree of surprise.  Why would a not-for-profit soliciting contributions consider turning any contributions down?  Well, there are lots of reasons – but the most important one it that a gift acceptance policy can protect …

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Why is the Auditor Really Asking about Misappropriation of Assets?

Ideally, as auditors, we rotate the staff we question during our annual audit internal control assessments.  Typically, we inquire of their knowledge of fraud, including such things as “misappropriation of assets.”  In some cases, lower level staff members of the auditee have difficulty coming up with answers, and will offer a negative response without appearing …

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Fueling Up on Tax Credits

Frivolous tax arguments sometimes target very specific types of tax credits.  One such fraudulent tax scheme involves the fuels tax credit.  Proponents of this scheme assert that taxpayers can claim the section 6421 fuels tax credit without regard to whether they qualify for the credit through the purchase and use of gasoline for an off-highway …

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Authorized Bank Accounts for Public Schools

Recently there have been a few schools in the news with headlines regarding unauthorized bank accounts.  Have you recently looked through the list of bank accounts your School District has?  If not, you may want to schedule a reminder each year to review your compliance with your bank accounts. We would recommend that you schedule …

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