The CPA Journal weights in on fraud

An article a back in January of 2006 explaining the CPAs role and involvement in exposing fraud in nonprofit organizations. Andi McNeal and Jeffrey Michelman wrote the following:

JANUARY 2006 - Fraud in the nonprofit sector has been the object of increasing scrutiny by the U.S. Congress, notably the U.S. Senate Finance Committee, as well as by New York State Attorney General Eliot Spitzer. Recent studies indicate that frauds occur in nonprofits of all sizes and in every area of the country with astounding frequency. Furthermore, the cost of these frauds appears to be increasing at an alarming rate. With small organizations suffering the most extreme losses from fraud and embezzlements, small, community-based nonprofits must be especially diligent in enacting fraud prevention and detection measures.