In the aftermath of high-profile scandals and failures, nonprofit boards have turned their attention to enhanced corporate governance and risk management

All nonprofits face uncertainty and the challenge for management is to determine how much uncertainty to accept as it strives to meet its mission through the strategic plan.  Tate & Tryon offers a number of service options designed to assist boards and management teams in identifying, evaluating, and prioritizing the potential risks that impede the achievement of strategic objectives. Our scope of internal audit services ranges from risk assessments and related special projects to a full outsourcing of the internal audit function.

Leveraging nonprofit industry best practices and a risk-based approach based on the Committee of Sponsoring Organizations of the Treadway Commission (COSO) internal control framework, our professionals will work with you to improve the effectiveness of your risk management and internal control processes, while also identifying opportunities to improve efficiency and operations.

Internal Audit Services

  • Enterprise risk assessments, including heat mapping
  • Accounting for alternative investments
  • Establish organizational structure for the internal audit department
  • Fully outsource the internal audit function to our team of professionals
  • Review information technology systems and security of information
  • Review and assess internal controls, policies and procedures
  • Perform internal control audits and opine on the effectiveness of internal controls (similar to the Sarbanes Oxley Section 404 requirement for public companies)
  • Assist with ensuring legal and regulatory compliance
  • Assess procedures for emergency preparedness and business continuity planning

“The Finance & Audit Committee and Executive Team at Catholic Charities of the Archdiocese of Washington count the decision to out-source the Internal Audit function to Tate & Tryon as one of the best decisions we have made. The T&T team partners with Agency leadership in assessing and monitoring risk, meeting compliance requirements and enhancing controls…The professionalism and focus on helping the Agency improve have made the T&T team an invaluable partner.”

MJ Morrow, Chief Financial Officer, Catholic Charities of the Archdiocese of Washington