Educators are increasingly turning to online crowdfunding to pay for expenses not covered by cash-strapped districts. If your district currently allows crowdfunding by staff members, how can you ensure that the funds and supplies raised are in compliance with district standards?
Maintaining Strong Internal Controls in a Virtual Environment
While hope is on the horizon with the national rollout of the COVID-19 vaccine, most organizations started the new year under the same conditions as they ended the last – remote working arrangements, reduced personnel and a reliance on virtual interactions. As a result of all of these workplace changes, internal controls over financial reporting may have been unintentionally relaxed, and controls that were once effective no longer suit the current environment. If you haven’t already, now is the time to examine your existing internal controls over operations and financial reporting to determine if your framework is effectively mitigating risk.