The Sarbanes-Oxley Act has demanded some pretty tough adapting by the directors of the mightiest corporations. Now, imagine the impact of a similar law applied to the volunteer, non-professional boards of community-scale not-for-profits.

There's no such law yet - Sarbanes-Oxley applies only to publicly traded companies - but the Senate Finance Committee has held a roundtable discussion on the issue, apparently recognizing that there's a problem to be solved. At the same time, state boards of accountancy are leaning toward stiffer requirements for not-for-profits, a la SOX.

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