Book DescriptionHow can not-for-profit organizations be sure they play by the rules when the rules aren't clear? Due to recent, very public accounting scandals and the resulting Sarbanes-Oxley Act and other regulations, public companies have strict guidance on financial governance and accounting, including the functions and responsibilities of audit committee members. Though not-for-profit organizations are subject to increased scrutiny, there has been no detailed guidance for their audit committees. This book fills the void and helps not-for-profit organizations answer these questions: In today's skeptical environment, how can responsible financial governance and reporting reassure wary donors and supporters, and perhaps give the organization a competitive advantage? How should the audit committee be structured? Which Sarbanes-Oxley requirements (if any) should the audit committee adopt? Which best practices best fit...

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