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Overview

4.0 Credits
ONLINE

This comprehensive annual update brings together key accounting, auditing, and compliance developments affecting not-for-profit organizations. The course integrates recent standard-setting activity, audit and attestation updates, and Single Audit developments to provide a practical view of changes impacting nonprofit financial reporting and oversight. The course will begin with an overview of accounting developments affecting not-for-profit organizations with an emphasis on understanding the purpose and structure of INPAS and how it compares conceptually to U.S. GAAP requirements for NFPs. The course then shifts to auditing and attestation developments from the AICPA, including updates related to SSAEs, SSARSs, exposure drafts on confirmations and fraud, and changes affecting group audits. Finally, the course addresses recent developments impacting Single Audits for not-for-profit organizations receiving federal funding.

Objectives

  • Recognize the impact of recently issued accounting standards on not-for-profit organizations.
  • Identify key elements and objectives of the International Non-Profit Accounting Standards.
  • Recall the impact of recent AICPA standards and proposals on audit and attestation engagements affecting not-for-profits.
  • Identify key quality management requirements related to monitoring and remediation.
  • Recognize changes affecting Single Audits resulting from the 2024 Uniform Guidance and related guidance.
  • Recall key regulatory and implementation updates relevant to Single Audits for not-for-profit organizations.

Major Topics

 

Designed For

Nonprofit preparers, auditors, and financial leaders.

Prerequisite

Prior experience with nonprofit accounting and auditing.

Advanced Preparation

None
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