How to Build Trust with Strong Internal Controls
March 22, 2017 THE NONPROFIT TIMES
White Paper: How to Build Trust with Strong Internal Controls
Let’s say you take a more sensible approach. Perhaps your New Year’s resolution is to eat more healthy foods and get more exercise. But you are left wondering, what does that really mean? What exactly am I supposed to put into my mouth? And what form and frequency does exercise need to take to make a difference in my health? It is hard to trust that you’ll see results when there are just generalities without a specific plan or process.
At the beginning of the year, you may have seen a lot of commercials about losing weight without ever being hungry or dieting. Did those big promises of reward with no effort create trust or did they feel a little shady? For nonprofits looking for funding sources, trust is paramount. And if your big promises to donors or funding agencies feel a little shady, you will not be trusted to grow your mission and do the good works you are looking to fund.
Similarly, even when nonprofits balance their desire to do good works with a realistic view of the level of effort required to accomplish those goals, funding may still be elusive if there are not strong internal controls in place. Why is that? How are trust and internal controls intertwined? In this white paper, we’ll look at how to create a climate of strong internal controls in your organization, so you can reap the benefits of greater trust with donors and funders and lower the risk of waste, fraud, and abuse at your organization.