Fraud and Abuse in Nonprofit Organizations: A Guide to Prevention and Detection - Tapa dura

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Gerard M. Zack, CPA, CFE, MBA, is a director (partner) with Williams Young, LLC, a CPA and consulting firm. Founder of the Nonprofit Resource Center, a training, publishing, and resource center serving CFOs and external auditors of nonprofits, Zack is a certified fraud examiner and has worked almost exclusively with nonprofit organizations for over two decades and has consulted on fraud prevention with a variety of organizations. He is a frequent lecturer and seminar instructor who has trained more than 10,000 accountants and auditors, and is the author of three comprehensive textbooks as well as the monthly newsletter The Tax-Exempt Organization Alert! Mr. Zack can be contacted at the Nonprofit Resource Center Web site at www.nonprofitresource.com.

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Praise for Fraud and Abuse in Nonprofit Organizations

"Gerry Zack?s book is a valuable resource for those who manage, audit, or investigate charities and other nonprofits. It is packed with information that can be used to reduce the high cost of fraud in this sector and to prevent the related reputational damage that can hurt a nonprofit?s ability to raise funds. This book can help ensure a nonprofit?s funds are used to help the needy and not wasted on lining a fraudster?s pockets."
?Toby J. F. Bishop
President & CEO, Association of Certified Fraud Examiners

"This book should be required reading for all managers and boards of directors of nonprofits. No doubt, it will inspire many readers to take a fresh look at their organizations? practices. Zack easily cuts through the fluff and zeroes in on the critical points. A rare find?an informative how-to guide for avoiding and detecting fraud, written in an easy-to-digest, conversational tone. Zack is a master at making antifraud and compliance issues interesting as well as informative. Great as a primer, refresher, and a reference to be consulted again and again. Following Zack?s advice has the potential for radically reducing the amount of fraud in nonprofits."
?Karla Snellings
Deputy Director, NW3C (National White Collar Crime Center)

In a climate in which public trust is at an all-time low, nonprofit organizations and their directors must take action to prevent fraud and abuse before their good name?and financial support?is damaged or lost forever. Fraud and Abuse in Nonprofit Organizations provides decision-makers with the most comprehensive, hands-on look yet at nonprofit fraud and abuse, and outlines a fraud awareness and deterrence system designed to uncover and stop financial dishonesty before its damage becomes irreparable.

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"The exposure that nonprofit organizations have to fraud and abuse is a very real risk and is growing every day. The key to preventing and detecting fraud and abuse is the implementation of a multifaceted organization-wide model of deterrence. This model, which is introduced in Chapter Two, relies upon involvement in fraud deterrence at every level of an organization and in virtually every function within an organization."
?from Chapter One

Business headlines today reflect an ongoing litany of "misdirected" assets, restated earnings, and out-and-out fraud. These cases, representing some of the biggest names in corporate America, have become frequent enough that much of their power to shock the public has been lost. But let the headlines involve a nonprofit or charitable organization, and the outcry can critically harm the organization involved?not to mention the goals they work so hard to achieve.

Fraud and Abuse in Nonprofit Organizations is the first book to provide a detailed examination of the myriad financial abuses that can occur in the nonprofit arena, along with specific guidelines for their detection and prevention. Nonprofit authority Gerard Zack combines his in-depth knowledge and experience with actual examples of nonprofit frauds, both how they were carried out and how they could have been prevented, as he answers questions including:

• What makes a nonprofit organization uniquely vulnerable to fraud?
• What are the most prevalent?and preventable?types of schemes?
• Which financial controls are most effective for combating each type of scheme?
• Which administrative systems and policies can best catch and control fraud?
• What are the roles and duties of management and the board of directors?

Like mainstream, for-profit companies, nonprofits rely almost entirely on the goodwill and trust of the public. But with nothing but their good names to fall back on, nonprofit organizations can suffer irreparable harm from highly publicized cases of fraud. Fraud and Abuse in Nonprofit Organizations explains how to detect and prevent financial frauds and abuses, and helps executives implement controls to ensure that when money is entrusted to them?it stays with them.