Sarbanes-Oxley for Nonprofits: A Guide to Building Competitive Advantage
The environment in which nonprofits operate is changing—dramatically. Public pressure is mounting to have nonprofits come under a higher level of scrutiny and regulation. Although only two provisions of Sarbanes-Oxley currently apply to both nonprofit and publicly traded companies, visible compliance with Sarbanes-Oxley standards establishes a competitive advantage that can provide benefits to any nonprofit. Written for nonprofit practitioners, board members, funders, and potential donors, Sarbanes-Oxley for Nonprofits explores how this important piece of legislation can serve to strengthen the infrastructure of nonprofits.There is genuine value for nonprofit executives who comply with Sarbanes-Oxley standards. Providing a new perspective on the implications of Sarbanes-Oxley legislation for nonprofit executives, Sarbanes-Oxley for Nonprofits shows readers how to leverage the best practices from the legislation to create a competitive advantage. Respected authors Peggy Jackson and Toni Fogerty take readers from the basics of what Sarbanes-Oxley is all about to examining the various sample documents and procedures that can be used to introduce these best practices into your nonprofit organization. Coverage includes:An overview of the Sarbanes-Oxley legislation and recent changes in the nonprofit legislative environmentThe outcomes and proposals from the Senate Finance Committee hearings along with the new California Nonprofit Integrity ActThe role of audit committees and audits in Sarbanes-Oxley best practicesNonprofit accounting and financial statementsThe IRS Form 990 and its enhanced role in nonprofit accountabilityThe Sarbanes-Oxley required provisions of whistleblower protection and document retention policiesHow Sarbanes-Oxley best practices affect nonprofit boardsHow a nonprofit's organizational culture affects its readiness to integrate Sarbanes-Oxley best practicesHow to move the nonprofit's operating standard from ordinary to platinumThe ways in which the nonprofit can leverage Sarbanes-Oxley best practices to create a competitive advantageRecommendations for scaling the Sarbanes-Oxley best practices to suit the needs of the small nonprofitLeverage the best practices from Sarbanes-Oxley legislation to create a competitive advantage in your nonprofit organization with the help of Sarbanes-Oxley for Nonprofits.