Sarbanes Oxley for Non-Profits
Wednesday, April 14, 2010 at 01:53AM 
The Public Company Accounting Reform and Investor Protection Act was passed in 2002 after the Enron debacle. It is commonly referred to as Sarbanes Oxley and mainly effects public companies, although it does have two provisions that apply to Non-Profits.
The first is Whistleblower Protection and it shields Employees or volunteers from retaliation for reporting waste, fraud or abuse. Companies should have a documented whistleblower protection policy that allows confidential reporting of such matters, includes a process for investigation of reported issues, and a process for determination of findings from such an investigation. Regardless of the outcome the employee cannot be subject to firing, harassment, or failed to be promoted if justified. The policy should be signed by the employees and posted near your other employment posters. Here is a link to a Model Whistleblower policy for Non-Profits.
Secondly you should have a documented Document Management & Preservation Policy. Issues and thing to consider are:
- What documents should be saved and why?
- Do documents include paper, emails, & electronic files?
- How long are you going to keep the Documents or files?
- How do you enforce the policy with staff and volunteers?
Here is a link to a Model Document Management & Preservation Policy. I think it gives good guidelines on time but does not include all procedures that should be considered. Keep in mind, state laws may be more strict and should be considered when drafting your policies.
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