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Learn how not-for-profit (NFP) board directors can carry out their duties in overseeing risk management.
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A key aspect of board governance is its responsibility to identify and manage risk. But in an NFP, a board’s role in this matter can vary widely. If you are a director with a small NFP whose staff might not have the experience to manage risk, you may find your role is a little more ‘hands-on’ in this area.
If yours is a large NFP, you can often rely on staff to manage the day-to-day risks while your work consists mostly of approving policies, strategies and major decisions about risk. In either respect, you will need to know how to carry out these duties, what to know and what to look for.
20 Questions Directors of Not-for-Profit Organizations Should Ask about Risk examines the topic by discussing:
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Sustainability and corporate reporting; the pursuit of knowledge development, advancement, and sharing has existed from the early establishment of the accounting profession — and continues to grow as CPAs champion research and innovation.
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