As forward-looking as Jeff Bezos, Larry Page, the late Steve Jobs, and the rest of Silicon Valley might seem, one of the tech world’s newest darlings is quite an old idea. In fact, Pentagon scientists discussed the combination of hardware and software as a service as early as the 1960s, a time when “the cloud” would have sounded like pure fantasy. Why the decades-long lag between dream and reality? It certainly was not because of lack of talent or creativity. Today, cloud accounting is a means nonprofits can use to accomplish their missions.
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Nonprofits, like every other type of institution, have been forced to weather a variety of challenges—some dire—during the economic downturn. Many have cut back on programming, reduced staff, streamlined operations, or been forced to rely on rainy-day reserves to break even or just survive. These unfortunate events, however, do not mean nonprofits can relax their efforts to protect against more routine risks that can occur anytime. One of the most serious is fraud.
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