Surgent's Auditing Not-for-Profit Entities: Superior Skills for an Effective and Efficient Audit

Overview

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 cannot simply 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 the audit approach to fit the not-for-profit entity. This course is designed to help you do just. It will equip you with the superior skills needed to excel in auditing not-for-profit entities. 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.

Highlights

• 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

Prerequisites

Basic auditing knowledge

Designed For

Auditors of not-for-profit entities

Objectives

• 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

Preparation

None

Notice

This course is provided by a third-party vendor. Please note that login instructions will not be available in the ‘My Upcoming CPE’ section of the NESCPA website. Instead, the login instructions will be sent directly to you via email by Surgent. Upon completing the course, your hours will be recorded in the ‘My CPE Tracker’ section of the NESCPA website.