Not-for-Profit Audit Committee Best Practices

How can not-for-profit organizations be sure they play by the rules when the rules aren't clear?

Due to recent, very public accounting scandals and the resulting Sarbanes-Oxley Act and other regulations, public companies have strict guidance on financial governance and accounting, including the functions and responsibilities of audit committee members. Though not-for-profit organizations are subject to increased scrutiny, there has been no detailed guidance for their audit committees. This...