From the course: Accounting Ethics
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Nonprofit and public sector governance
From the course: Accounting Ethics
Nonprofit and public sector governance
- Nonprofit organizations are increasingly under the governance spotlight. Donors and the government want to know how they're making use of public funds, like donations, government grants, or tax benefits. Despite this intensified focus, many nonprofit directors don't fully appreciate their fiduciary responsibility. This is where you come in. Your role is to guide these nonprofit directors to developing accountable governance frameworks. But what exactly is a difference between a profit and a nonprofit governance structure? Well, first off, nonprofit directors volunteer and are not usually paid for their role like for-profit directors. Directors are usually past users of the services or donors who know the organization well. Either way, they have a deep commitment and believe in the mission over profit. This is a huge plus. That said the downside is they're only volunteers with possibly little experience on a board…
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