Ask the Accounting Community

Hello!  

I am serving on the Board for a non-profit trade association in the Raleigh/Durham, NC market.  This association has grown quite a bit and the Board would like to have a certified professional (CMA/CPA) review our procedures to look for internal weaknesses, recommend best practices and help us write up and document procedures.  There are some things we are considering (ACH payments, investment options, etc.) that we would like some outside support to review if and how to implement such things.

Extra points for anyone with a forensic background or procedure auditing.

NOTE: I mentioned the market we are in, but am assuming that this review could likely be completed remotely with some virtual interviews and document review.

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Melanie Starr Rivera CMA, CFM
Director/Manager
Morrisville NC
United States
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Which accounting software are you using?

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Douglas Sledge, CMA, CPA, CGMA, MBA]
[DOUGLAS A. SLEDGE . CPA MANAGEMENT ACCOUNTANT]
Foley AL
United StatesConsultant
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Hi Melanie,

Maybe this will help further the conversation for this little forum chat we have going on here.

Is this for BOMA/Raleigh-Durham?

Sounds like a super initiative, especially as it grows. 

How complex are the operations (staff size, programs, financial activity)?

Will this involve sitting with each team to understand roles and build out SOPs? Or is it more high-level internal control design and review?

What’s driving the initiative, growth pains, a board request, regulatory needs? Commercial 3rd parties 

Do you already have an external audit or accounting firm involved? Legal counsel?

Any complex vendor relationships or material third-party agreements?

Have you had an internal audit?  Do you have any committees set up, or is it the board? Do you envision high level organizational procedures and policies, or position-level SOPs?  Do you have any relationship with local, or city, or state entities, funding, grants, so on?

It sounds like a neat project, I can see why you would say forensic or controls experience would be valuable here.

Nice area. Hillsborough is quaint/neat. Eno River hiking is a personal favorite (and Tanger outlets are there😉).

Happy new week!

ilya i.

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Ilya Ilienko, dual MBA, CPA, CMA
Board Member / Director
East Coast - United States
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Ilya,

Thank you for your email.  Here is additional information:

There is no staff.  We have a part time bookkeeper and almost full time Association Executive who handle the day to day operations - guided by the Board.  We are a ~240 member association and I will shoot over an email with details on the financials.  To summarize (and if others are interested), revenues are from memberships and sponsorships.  Expenses are around bi-monthly lunches with speakers, educational sessions and a few events (golf tournament, member appreciation, signature annual event).

We would like interviews with the two contractors supporting operations with SOPs documented - to include any recommendations for best practices for how to manage internal controls given the small size. The goal is to ensure we are prudently safeguarding assets and have good processes.

We do not have external auditors - with the only outward facing financials being our annual 990 tax filing. We have a finance committee and have some potential efficiencies that we are interested in considering (things like processing ACH transactions), but need to verify how to accomplish those kind of options.  The Board is driving this initiative as our membership has grown as necessary to investigate, document and incorporate best practices for controls. No complex relationships or grants, etc.

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Melanie Starr Rivera CMA, CFM
Director/Manager
Morrisville NC
United States
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Original Message:
Sent: 07-15-2025 09:29 AM
From: Ilya Ilienko
Subject: Needing CMA/CPA for Agreed Upon Procedures Review

Hi Melanie,

Maybe this will help further the conversation for this little forum chat we have going on here.

Is this for BOMA/Raleigh-Durham?

Sounds like a super initiative, especially as it grows. 

How complex are the operations (staff size, programs, financial activity)?

Will this involve sitting with each team to understand roles and build out SOPs? Or is it more high-level internal control design and review?

What's driving the initiative, growth pains, a board request, regulatory needs? Commercial 3rd parties 

Do you already have an external audit or accounting firm involved? Legal counsel?

Any complex vendor relationships or material third-party agreements?

Have you had an internal audit?  Do you have any committees set up, or is it the board? Do you envision high level organizational procedures and policies, or position-level SOPs?  Do you have any relationship with local, or city, or state entities, funding, grants, so on?

It sounds like a neat project, I can see why you would say forensic or controls experience would be valuable here.

Nice area. Hillsborough is quaint/neat. Eno River hiking is a personal favorite (and Tanger outlets are there😉).

Happy new week!

ilya i.

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Ilya Ilienko, dual MBA, CPA, CMA
Board Member / Director
East Coast - United States
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Hey Melanie, 

I am glad you have a few people on the board interested.  @Ron Guay and @LuAnn Klann

Good writeup. If you want post some things on here, nothing that is sensitive and people can provide feedback to you. I can see how you'd be sensitive about financials, but you can always redact the last 4 or 5 or 6 digits and tax ID...

Do you expect this being a team effort, or piecemeal, timeline?

Id you'd like send some docs over to Ron / LuAnn / myself on this thread, I'll see what Ican suggest, maybe others will chime in . . .

ilya i.

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Ilya Ilienko, dual MBA, CPA, CMA
Board Member / Director
East Coast - United States
------------------------------

Original Message:
Sent: 7/22/2025 11:19:00 AM
From: Ilya Ilienko
Subject: RE: Needing CMA/CPA for Agreed Upon Procedures Review

Hey Melanie, 

I am glad you have a few people on the board interested.  @Ron Guay and @LuAnn Klann

Good writeup. If you want post some things on here, nothing that is sensitive and people can provide feedback to you. I can see how you'd be sensitive about financials, but you can always redact the last 4 or 5 or 6 digits and tax ID...

Do you expect this being a team effort, or piecemeal, timeline?

Id you'd like send some docs over to Ron / LuAnn / myself on this thread, I'll see what Ican suggest, maybe others will chime in . . .

ilya i.

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Ilya Ilienko, dual MBA, CPA, CMA
Board Member / Director
East Coast - United States
------------------------------

Hello Melanie. I agree with Douglas' and Ilya's comments.

I specialize in transforming organizations and finances, including ERP design/implementation, management controls, quality assurance, ISO certification, predictive analytics, forensic and international accounting, and strategic management accounting (SMAP/IMA SMAs). Tell me which SMAs your NFPO has implemented?

For example, as an executive member, my NFPO experience includes serving with various accounting institutes, the AAA's Management Accounting Section, the IMA Research Foundation (fourth-term renewal), and IFAC representation (CIMA). 

Please forward any relevant documents for preliminary insights at no cost. 

Thank you. Dr Ron. 

  

         

Member, Delta Mu Delta, International Honor Society in Business

____________________________________________

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Dr FCPA, FCMA, Prof Ron Guay, PhD, MBA, CPA, CMA,
CA(UK), ACMA(UK), FCPA(AU), CPA(IE, UK, US), CGMA(UK, U.S.), DABFE

Member, Delta Mu Delta, International Honor Society in Business
___________________________________________________
Dania Performance Management Inc
CEO, Pres.
rguay1@..., rguay@...
Dania Beach, FL, Broward County
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Hello Melanie. My email is rguay@...

Thank you. Dr Ron. 

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Dr FCPA, FCMA, Prof Ron Guay, PhD, MBA, CPA, CMA,
CA(UK), ACMA(UK), FCPA(AU), CPA(IE, UK, US), CGMA(UK, U.S.), DABFE

Member, Delta Mu Delta, International Honor Society in Business
___________________________________________________
Dania Performance Management Inc
CEO, Pres.
rguay1@..., rguay@...
Dania Beach, FL, Broward County
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I am still interested in this.  Are you saying that the only available information for the review is bank statements?  Are you using any accounting software?

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LuAnn Klann CMA
Chief Executive Officer
Atwater CA
United States
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