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  Non-Profit Organisations (NPOs)
 
 
Non-Profit Organisations (NPOs)
 
Contact Persons
tel (65) 6531 1843
 
tel (65) 6531 3318

 

 


Strengthening NPOs, Inside Out

If the Board of a corporate owes a duty to its shareholders, the Board of a Non Profit Organisation (NPO) owes a greater duty to its stakeholders - its donors and/or the public. According to the Code of Governance for Charities and Institutions of a Public Character (IPCs), the Board of an NPO "has the responsibility of ensuring that the charity is governed and managed responsibly and prudently to ensure the effectiveness, credibility and sustainability of the charity."

Members of the Board are to ensure that the NPO abides by the same governance and accountability as corporates. However, NPOs often do not have access to the same level of resources that corporates have, even as they are urged to follow good governance practices.

Under intensifying scrutiny from both stakeholders and the public for greater transparency, they are seeking ways to strengthen their financial and operational platforms. However, management teams charged with the responsibility to roll out their Board’s corporate governance requirements are often hampered by the following:

  • Lack of an effective but simple process to communicate direction and integrate corporate governance requirements into operations;
  • Lack of resources (including financial and human resources);
  • Lack of effective tools to facilitate changes and sustain the corporate governance platform

Our Approach to enabling public accountability
Our NPO services unit provides custodians and guardians of NPOs the assurance and peace of mind that adequate compliance has been adopted in accordance with the Code of Governance. We assist NPOs with an easy-to-implement framework to discharge their duties in a cost-effective manner. The team specialises in helping NPOs meet their strategic, financial and operational management needs. Having worked with several NPOs, and Sector Administrators, we understand the challenges that NPOs face and are able to provide a best-fit solution for an NPO, regardless of its size.

We adopt a modular and structured approach to assist NPOs in meeting their compliance needs, as follows:

Our team works closely with the management team, providing expertise knowledge to educate and train NPO managers and staff on the ground. We also conduct post-implementation review to enable continuity in financial & operational management after our exit.

NPO Services & Solutions

NPO Services
Our services for NPOs include:

  • Financial Management
  • Internal Audit & Controls
  • Operational Management
  • IT Management
  • Audit & Accountancy
  • Taxation

NPOEssentials
NPOEssentials is our proprietary tool kit that is simple to understand and focuses on the following areas:

  • Top-to-Bottom Governance
  • Internal Controls, including General IT Controls
  • Financial Management

NPOs which are unsure of where to focus or start could also use NPOEssentials to have an overall, quick output response.

Click here to have an overview of NPOEssentials.

Training
We conduct financial updates, risk governance and financial & process management training sessions, using the NPOEssentials toolkit to facilitate where necessary. If you require customised training, please email to NPOTraining@StoneForest.com.sg for a discussion.

 
 
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