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Auditing Not-for-Profit Entities: Superior Skills for an Effective and Efficient Audit (ANFP)
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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 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 approach to fit the not-for-profit entity. This course is designed to help you obtain the superior skills needed to excel in auditing not-for-profit entities.

 Export to Your Calendar 8/16/2017
When: Wednesday, August 16, 2017
7:00:00 AM - 3:00:00 PM
Where: Webinar/Webcast
United States
Presenter: Charles Blanton, CPA
Contact: April Deneault
801-466-8022


Online registration is available until: 8/16/2017
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Description:

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 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 approach to fit the not-for-profit entity. This course is designed to help you obtain the superior skills needed to excel in auditing not-for-profit entities. The course materials utilize a highly illustrative and innovative format. Over 20 focused exercises are included to provide an enhanced working knowledge of auditing not-for-profit entities.

Subjects:

  • 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
  • The 2017 version of the course will also contain bonus coverage of the new ASU on not-for-profit financial statements (i.e., ASU No. 2016-14) and a discussion of issues related to the revenue recognition standard 

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

Design For:

Auditors of not-for-profit entities

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