Forensic accounting for charities
Although charities are particularly vulnerable targets for fraudsters, many of the threats faced by charities can be significantly mitigated by a well-functioning board of Trustees that proactively defends their organisation against the threat of fraud.
In fact, Trustees of charities have a number of legal duties geared towards this very purpose. Many Trustees, however, do not come from a legal background, and so are often unaware of their statutory duties.
Even when Trustees are aware of their duties, they often delegate them to a third party in the belief that someone else will take care of them. Some of the above responsibilities, however, are non-transferrable, and the general failure of the Board of Trustees to discharge their responsibilities adequately leaves the door open for potential fraudsters.
In our forensic accounting information sheet we provide key advice to minimise the chance of a fraud occurring.