Managing Fraud Risks in Not-for-Profits: A Comprehensive Guide for Assurance Professionals

Not-for-profit organizations are increasingly vulnerable to fraud due to limited resources and a culture of trust, making them "cyber-poor but target-rich." This article highlights common fraud schemes, the importance of regular fraud risk assessments, and the implementation of robust internal controls. It also provides guidance on responding to suspected fraud and addresses emerging risks like digital fundraising and AI-driven scams.