Nonprofits spend a lot of time and energy reviewing financial data. Accounting departments are staffed, monthly financial statements are generated, Finance Committees meet regularly, annual independent audits of the financial statements are performed, and Audit Committees provide general oversight. In the majority of nonprofits, the accounting function is the most scrutinized area.
The nonprofit finance department of the future is mobile, agile, and insightful. The nonprofit finance department of the future has arrived today.
Forward looking nonprofits are increasingly focusing on risk management and metrics in the strategic planning process led by a proactive CFO in collaboration with the audit committee. So what is risk management?
Thanksgiving is my favorite holiday. There is nothing better than time spent with family, friends, and good food. As we prepare to gather and give thanks, let’s take a minute to be thankful for the rapid evolution of the accounting profession and for those who are leading the charge. We are thankful for the Chief Financial Officers and other financial professionals whose forward thinking benefits their organizations.