Robust internal controls and proactive risk management are essential for safeguarding the financial integrity and operational stability of non-profit organizations. This article examines principles and practices including segregation of duties, authorization protocols, reconciliations, documentation, physical controls, and auditing. It further explores risk management measures such as revenue diversification, insurance coverage, and crisis planning. Drawing on case examples, the article illustrates how non-profits can prevent fraud, maintain transparency, and strengthen stakeholder trust. By combining theoretical insights with practical frameworks, it provides managers, boards, and finance officers with tools to enhance accountability, resilience, and mission-driven impact.
Anna Neya Kazanskaia (Wed,) studied this question.