October 30, 2003

Nonprofit Groups Urged to Follow Governance Act

By Stephen G. Greene

Nonprofit organizations should apply to their own operations many of the same requirements companies must now follow as part of a federal law intended to improve governance and accountability, say several legal and financial experts.

In a position paper on the issue, two prominent nonprofit associations write that, while most provisions of the so-called Sarbanes-Oxley Act that passed last year apply only to publicly traded corporations, the new law is likely to raise the bar for

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