Cross-training employees can help protect your not-for-profit’s finances and operations. The process involves teaching staffers to do each other’s jobs so that critical functions aren’t interrupted when there are unplanned long- and short-term absences. An employee who’s temporarily filling in for someone else can also bring a new perspective to the position and may help deter occupational fraud. Staffers can benefit by gaining new skills and learning more about your organization. Just make sure they understand that cross-training doesn’t mean their jobs are in jeopardy.
https://www.sdmayer.com/insights/blogs/nonprofit/protect-your-nonprofit-by-cross-training-staff/
Many not-for-profits increase their occupational theft risk by devoting too little of their budget to internal controls, placing excessive trust in staffers and volunteers...
Not-for-profit board members, whether compensated or not, have a fiduciary duty to the organization. If your board hasn’t reviewed its fiduciary duties recently, it...
You must report certain assets and liabilities (such as derivatives and intangibles acquired in a business combination) at fair value, rather than historic cost....