A&A Update for Nonprofits and Single Audit (2025)

Overview

This course provides a high-level overview of the most important accounting, financial reporting, compliance and audit issues facing nonprofit entities and their accountants. The focus is on explaining the basis behind major issues and trends in executive summary (yet practical) form, enabling professionals to understand the most important aspects of relevant standards, and the basis for any potential changes on the horizon.

This event may be a rebroadcast of a live event and the instructor will be available to answer your questions during the event.

Course Instructor: Jennifer F. Louis, CPA

Highlights

The major topics that will be covered in this course include:

• Current impacts of accounting and financial reporting on nonprofit entities

• Recently released FASB standards that impact nonprofit financial reporting the most

• Current issues and challenges involving Yellow Book financial statement audits

• Critical considerations when performing Single Audits under OMB Uniform Guidance for Federal Awards

• Important AICPA professional standard developments related to providing audit and nonaudit services to nonprofits

Prerequisites

Familiarity with GAAP, SAS, Yellow Book and Single Audit

Designed For

Anyone who is responsible for preparing financial statements or performs financial statement or Single Audits

Objectives

After attending this presentation, you will be able to...

Recall recent developments of the FASB, GAO, OMB and AICPA relevant to nonprofit entities
Analyze the impact of new technical, professional, and regulatory requirements on nonprofit entities
Recall current accounting, reporting, and compliance issues faced by nonprofit entities
Apply best practices to minimize noncompliance with Yellow Book and Single Audits

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 CPA Crossings (messenger@webex.com). Upon completing the course, your hours will be recorded in the ‘My CPE Tracker’ section of the NESCPA website.