Fraud can infect any niche, but with the complexity of nonprofit accounting, the risk of fraud there is that much higher. The good news is that you can educate your nonprofit clients on how to recognize the signs. For example: Does their controller tend to drop off invoices to sign at the end of the day? Do they have employees that never take a vacation? Or are their financial statements and bank reconciliations always late? These are common signs of potential fraud and happen often within the nonprofit market. This article identifies the top reasons for fraud in the nonprofit sector and how to spot the signs. Armed with this information, your firm will be better positioned to consult with clients and help them safeguard their organization. The fact is, just a few simple organizational changes can greatly reduce fraudulent activity.
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