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Forensic Accounting, Forensic Techniques, and Fraud Detection Copyrighted 2001 D. Larry Crumbley, ... - page 346 / 352

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346 / 352

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© D.L. Crumbley

Not-For-Profits

There are more than 1 million not-for-profits in the U.S.

Often there is little segregation of duties.

They often deal in an atmosphere of trust, with employees having little accounting and business experience.

Difficult to estimate and control the cash contributions and revenues (e.g., Salvation Army’s Christmas kettles take in $1,000 - $1,500 per day).

Fountains at charitable organizations may take in several thousand dollars in coins.

The Non Profit Times (www.nptimes.com).

Some people believe the Sarbanes-Oxley Act will be imposed on large not-for-profits.

Moral: Do not go to a hospital that you are giving away money to in your will.

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