Part 4 of our series on Segregation of Duties. In our recent Fraud Survey, we asked churches to respond to these statements: “Our church does not allow an individual who serves on the count team, is involved in check preparation, or is involved in general ledger and financial statement presentation to participate in the bank reconciliation process.” “Someone […]
Follow these fundraising financial safeguards to ensure that donations are collected securely and properly during charity fundraisers. Churches and ministries often host fundraisers to support various projects like mission trips, community outreach, facility improvement and staff support. As non-profits, churches rely a great deal on the funds they raise and therefore they have to maintain […]
Part 3 of our series on Segregation of Duties. In our recent Fraud Survey, we asked churches to respond to these statements: “The individual who prepares the checks also mails the checks.” “The person responsible for general ledger and financial reporting also mails the checks.” Survey results – A little over 50% of the respondents answered […]
Part 2 of our series on Segregation of Duties. In our recent Fraud Survey, we asked churches to respond to this statement: “From the time of collection to the time of the bank deposit, funds are never, even for just a few minutes, in the custody of a single individual or kept in an unsecured location.” Survey results […]
Part 6 of our ongoing Fraud Awareness in the Church series will examine Credit Checks. PSK in cooperation with the National Association of Church Business Administration (NACBA) conducted a survey to determine the extent of fraud awareness in the church environment. We asked churches to respond to this statement: Our church conducts credit checks on financial employees and volunteers. While almost all churches […]
Part 5 of our ongoing Fraud Awareness in the Church series will address Policies and Procedures Manuals. PSK in cooperation with the National Association of Church Business Administration (NACBA) conducted a survey to determine the extent of fraud awareness in the church environment. We asked churches to respond to this statement: Our church has compiled written financial, accounting, management and personnel policies in […]
Part 4 of our ongoing Fraud Awareness in the Church series will address Volunteer Training. PSK in cooperation with the National Association of Church Business Administration (NACBA) conducted a survey to determine the extent of fraud awareness in the church environment. We asked churches to respond to this statement: Our church conducts formal volunteer orientation or training. Over 60% of the respondents […]
Part 3 of our ongoing Fraud Awareness in the Church series will look at Conflicts of Interest. PSK in cooperation with the National Association of Church Business Administration (NACBA) conducted a survey to determine the extent of fraud awareness in the church environment. We asked churches to respond to this statement: Our church has adopted a formal conflict of interest policy. Approximately […]
Part 2 of our ongoing Fraud Awareness in the Church series will deal with Church Governance. PSK in cooperation with the National Association of Church Business Administration (NACBA) conducted a survey to determine the extent of fraud awareness in the church environment. Where Fraud Prevention Begins Typically, when a CPA is asked about fraud prevention, he/she will launch into a long […]
Last week I conducted two break-out sessions at the NACBA National Conference in Houston. During these sessions I reported the final results of the PSK/NACBA fraud survey conducted earlier this year. In the coming posts I will be sharing some of the information we gleaned from our survey. Goal of the Fraud Survey Before launching […]