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Forty Percent of Nonprofits Would Have Trouble Implementing Sarbanes-Oxley’s Audit Committee Provisions

Forty Percent of Nonprofits Would Have Trouble Implementing Sarbanes-Oxley’s Audit Committee Provisions

by Rick Turoczy on October 5, 2006

Applying the Sarbanes-Oxley Act’s audit committee provisions to nonprofit organizations would test the administrative mettle of two-fifths of America’s charities, according to initial findings from the Urban Institute’s National Survey of Nonprofit Governance.

Only 20 percent of the survey’s respondents had an independent audit committee, ranging from 15 percent among nonprofits with under $100,000 in annual expenses to 58 percent among those with over $40 million.

HandsNet: Forty Percent of Nonprofits Would Have Trouble Implementing Sarbanes-Oxley’s Audit Committee Provisions

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