It’s been said that you cannot fit a square peg into a round hole. The same principle holds true for audits of not-for-profit entities. You simply cannot apply a standard commercial audit approach to the audit of a not-for-profit entity and expect a good fit. Skilled auditors will instead adjust and hone the audit to fit the not-for-profit entity. This course is designed to help you do just that and equip you with the superior skills needed to excel in auditing not-for-profit entities. Updated for ASU No. 2016-14 (i.e., the new not-for-profit reporting model), the course materials utilize a highly illustrative and innovative format. Over 25 focused exercises are included to provide an enhanced working knowledge of auditing not-for-profit entities.
- Refining key planning and general auditing considerations to the not-for-profit environment
- Characteristics of not-for-profit financial statements that require special attention
- The auditor’s consideration of fraud in auditing a not-for-profit entity
- Audit procedures to become comfortable with management’s recording and reporting of contributions and promises to give
- Auditing how a not-for-profit entity gets from natural expenses to functional expenses
- Auditing considerations and techniques related to net assets, compliance with tax laws and regulations, collections and split-interest agreements
- Considerations related to Yellow Book and single audits
Basic auditing knowledge
Auditors of not-for-profit entities
- Identify what distinguishes not-for-profit auditing from commercial sector auditing
- Skillfully adjust the audit for the characteristics of a not-for-profit entity
- More effectively audit not-for-profit entities through superior knowledge of key issues
This is a self-study/on demand course offered by a 3rd party vendor and will not be accessible in the My CPE Tracker section of the ISCPA website. Course access information will be emailed directly to you by Surgent Professional Education. The course expires one year from the purchase date. Format = text only download.
Non-Member Price $209.00
Member Price $159.00