Like most companies, nonprofits face considerable challenges when it comes to making sure their business systems are secure. The risk of fraud and embezzlement is very real, so maintaining systemic and procedural controls is essential to avoiding these and other types of security breaches.
Many nonprofit organizations run their operations on very limited resources. Each staff member must wear many hats, which often leads to a lack of focus on key areas of the financial management system. In addition, only a fraction of system data may get examined by auditors, so you can see how easy it is for gaps to appear in overall system security.
Using a financial management system such as
Regardless of how large or small the organization is, there are prime areas within the financial management system that have the potential for a significant security breach. Often, nonprofits spend most of their time seeking financial backing from grants, supporting their members and/or donors, and providing services. This leaves little time to perform annual examinations on each area of the organization. However, it is critical for nonprofit finance leaders to re-examine their policies and procedures, along with established internal controls. This will ensure that you are taking all necessary steps to guard against an attack on your organizational assets.
Associations and other nonprofit organizations can minimize their security risk by taking advantage of many built-in features of Microsoft Dynamics GP. Creating an automated audit trail and regularly reviewing your procedures and internal controls can help keep your organization protected from potentially devastating financial asset lost.
by BroadPoint Technologies, LLC.