Segregating Duties to Avoid Financial Risk

Separating responsibilities amongst team members is an important step in preventing financially fraudulent situations and reduces the risk for the organization. Nonprofits need to have systems in place to prevent one person from becoming overwhelmed with their responsibilities and making mistakes. Creating this segregation can make quite the difference in preventing minor mistakes from becoming much larger ones.

 

Highlights

• Creating checks and balances to ensure accountability
• Logbooks and accounting systems for financial recording

 

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