|
Uses and Benefits
.:. |
| |
|
Important Trivia
Question for today: What do Charles Schwab, Standard & Poor's,
Moody's, Morningstar Advisors and Bonadio and Co., LLP have in
common? |
|
|
|
While you ponder that
query, the business community continues to be rocked by daily
disclosures of management deception and financial
misrepresentation that is giving a new meaning to the term
"cooking the books." |
 |
|
Do not think for a
nanosecond that this focus on "corporate responsibility" is
confined to the for-profit or public-company business sectors.
All organizations, including non-profits, must take action now
to engage in management and board discussion regarding the
following matters: |
|
|
 |
Clarity and substance of communications between management and
the board of financial matters. |
|
|
Assessment of the
quality and frequency of board interaction with its external
auditor. |
|
|
Policy of the
organizations regarding use of the audit firm for "no-audit"
services, commonly referred to as consulting. |
|
|
Review and
revision, if necessary, of the board process for performance
evaluation and assessment of the CEO of the non-profit. |
|
|
Evaluation of
current procedures used by the non-profit organization to
identify non-compliant activities and the process for
corrective action. |
|
|
Completion and
implementation of a regulatory compliance plan for your
organization, if appropriate. |
|
|
Answer to the
Important Trivia Question: Each of these organizations has
developed financial assessment models for grading or scoring the
overall financial health of an organization. Bonadio is the only
group focused on providing a financial scoring model for
non-profit organizations. Schwab recently introduced an
A-though-F model for publicly traded companies. Moody's rated
bond quality with its alphabet grading (triple BBB, double AA,
etc.) Standard and Poor's assesses financial institutions and
government entities and other organizations, and Morningstar
grades mutual funds. |
|
|
|
To try A-Score for
free checkout our
Free
A-Score Quick Assessment Tool,
or
purchase one of our specialized packaged
service offerings. |
