This month, in partnership with Abila, we ran a marketing campaign among potential customers focusing on financial fraud in nonprofit organizations. There were three mailings dealing with general awareness, risk statistics, and its detection and prevention. Some organizations on our newsletter mailing list likely received the mailings, but others may not have. We think the information would be of value to current users of Abila MIP Fund Accounting™ and to users of other accounting software as well. Below are the campaign links which include:
- A free webinar on detecting and deterring fraud
- An infographic on fraud risk statistics among nonprofits
- Sign up for a free demo on how Abila MIP Fund Accounting™ provides technology tools to aid fraud detection, strengthen audit trails and protect critical data
If you are an Abila MIP user you may not know some of the features built into the software that extend the ability to detect and deter fraud. These are in addition to the regular features that support strong internal controls. Some examples are given below. You can also refer to this “Fraud Detention with Abila MIP Fund Accounting™” video.
- Activity within applications such as AP and Payroll is monitored on a real-time basis and alerts are emailed to managers of potential fraudulent activity.
- Terminated employees are automatically locked out of MIP.
- Audit trails are enhanced to provide a complete forensic record of database changes.
- Masking of SSN and FEINs in payroll and accounts payable with optional encrypting.
Not to belabor the point of this article, “an ounce of prevention is worth a pound of cure.” If you’re interested in getting out in front of the problem and want to know more, take advantage of the information links and contact me with your questions.
Lee Bengston, CPA