Is your board staring at financial red flags without knowing it? Although some warning signs — such as those experienced when the pandemic first hit — are obvious, others are easy to overlook. Here are several signs of trouble that board members need to be aware of and prepared to act on. Unexplained variances and
financial statements Archives - Crawford Ellenbogen
Mar 8, 2022
Your nonprofit’s board needs to know these financial warning signs
- By Joan Ellenbogen
- Non-Profit
- 0 Comments
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Aug 21, 2019
When the early bird commits the fraud, you need to catch it
- By Ellenbogen
- Fraud
- 0 Comments
Improper revenue recognition has long accounted for a substantial portion of financial statement fraud. By recording revenue early, a dishonest business seller or an employee under pressure to meet financial benchmarks can significantly distort profits. Fortunately, such manipulation leaves traces for fraud experts to find. Probably the most obvious marker is when a company records
Feb 13, 2019
Warning! 4 signs your nonprofit is in financial danger
- By Ellenbogen
- Non-Profit
- 0 Comments
Signs of financial distress in a not-for-profit can be subtle. But board members have a responsibility to recognize them and do everything in their power to avert potential disaster. Pay particular attention to: 1. Budget bellwethers. Confirm that proposed budgets are in line with strategies already developed and approved. Once your board has signed off