The inherent characteristics of focusing primarily on missions that are educational, charitable, religious or otherwise not focused on profitability often result in not-for-profit organizations (NFPs) having less formal organizational structures and policies in place than for-profit business entities. This makes NFPs more susceptible to fraud.
Due to the nature of their mission, NFP entities often operate under large amounts of trust. However, trust without verification is not a sound basis for internal control.
This latest Eye on Fraud issue, focuses