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| More Policy & Procedures: Sarbanes Oxley Fallout for 501 https://www.rypn.org/forums/viewtopic.php?f=1&t=24431 |
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| Author: | superheater [ Tue Dec 11, 2007 12:17 am ] |
| Post subject: | More Policy & Procedures: Sarbanes Oxley Fallout for 501 |
http://accounting.smartpros.com/x60017.xml Although "SOX" does not directly apply to non-profits, the reality is that the standardization, formalization and documentation of internal controls (policies and procedures designed to protect the integrity of reporting and protection of assets) are having a "trickle-down" effect. As large corporations adopt measures designed to comply with SOX, and as auditors and accountants become familiar and reliant on them -they will be the state of the art, as much a part of life as computers & e-mail. The above article details the proliferation of new controls in the non profit sector. |
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