5 tips for effective not-for-profit board oversight
These tips can help boards perform their duties of care, loyalty, and obedience to help not-for-profits thrive.
Strategy and governance
Controllers' updated roles
With CFOs spending more time on strategy, corporate controllers have become more CFO-like.
Disclosures by audit committees continue to rise
Audit committees for public companies are providing more information to the public on their procedures for oversight of external auditors, according to an analysis conducted by the Center for Audit Quality and Audit Analytics.
Strategies for maintaining an effective board
Recruiting, training, and retaining competent, engaged board members are critical to mission fulfillment for a not-for-profit.
The board’s role in promoting an ethical culture
A board of directors can promote ethical behavior throughout an organization by prioritizing corporate culture, watching for red flags, and setting clear expectations.
Companies see need to manage risks, but they’re slow to act
Linking enterprise risk management practices with strategy remains a challenge for companies, who say risk environment continues to grow in complexity.
Corporate board members expect major changes
Changing business models, cybersecurity, and competition for talent are just a few of the things expected to concern corporate directors in the next year.
What investors want to see
Creating a winning product or service and a sound long-term strategy will help a company attract investors, according to a new survey by the Center for Audit Quality.
Updated COSO ERM framework ties in risk with strategy
The update of the 2004 framework highlights the importance of enterprise-wide risk management in strategic planning.
CFOs and sustainability—a growing relationship
There are powerful reasons why corporate finance teams should be key participants in their business’s sustainability journeys.
Building a more effective board
Corporate boards’ scope of responsibilities continues to broaden, and directors’ confidence that they have what it takes to tackle the challenges is lagging.
How family businesses can plan for the future
Family-owned companies struggle with strategic planning and succession planning. CPAs—as employees or outside advisers—can help.
Shaking up the board
It is essential that board makeups represent the customers the company serves.
What CFOs need to know about joint ventures and alliances
They’re hot business growth tools—but they demand cool-headed preparation before you put the hammer down.
What CFOs need to know about the rise of CVC funds
CFOs are key players when a company establishes a CVC fund because they are an integral part of allocating the money required to invest.
Brexit lesson: Focus on consequences, not cause in scenario planning
The Brexit referendum underscores the need for companies to be ready for upheaval through robust scenario planning.
What CPAs can learn from fighter pilots
Fighter pilots can teach controllers, CFOs, and other CPA executives how to out maneuver the competition.
Business practices that not-for-profits can’t afford to overlook
A strong foundation and structure can help not-for-profits reach their full potential. Appropriate business practices can help these organizations develop the governance, strategy, and fundraising prowess they need to survive and thrive.
Regulation: A moving but immovable target
Compliance requirements related to the Patient Protection and Affordable Care Act, P.L. 111-148, are just one example of the regulatory changes keeping finance departments busy these days.
David E. Lechner, CPA, CGMA
David E. Lechner, CPA, CGMA, senior vice president and CFO of the University of Nebraska, says finance executives play a critical analytical role in strategic decisions in higher education.
