A recent article, What a Lost $75K Check Tells Us About How We Treat Donors, highlighted an interesting philosophical issue for fundraisers. It has also given me the opportunity to jump up on my internal control soapbox. Broadly defined, internal controls are the processes designed to safeguard assets, detect errors and fraud, and ensure accuracy of financial reporting. A lock on a door is one form of internal control; a bank reconciliation is another. It's how we [...]
