Webinar

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

  • Monday, October 3, 2022

    9:00am – 5:00pm
  • 8.00
    CREDITS
    Auditing (Governmental)

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. 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.

Objectives

    

  • Identify what distinguishes not-for-profit auditing from commercial sector auditing
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  • Skillfully adjust the audit for the characteristics of a not-for-profit entity
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  • More effectively audit not-for-profit entities through superior knowledge of key issues
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Highlights

    

  • Refining key planning and general auditing considerations to the not-for-profit environment
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  • Characteristics of not-for-profit financial statements that require special attention
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  • The auditor’s consideration of fraud in auditing a not-for-profit entity
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  • Audit procedures to become comfortable with management’s recording and reporting of contributions and promises to give
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  • Auditing how a not-for-profit entity gets from natural expenses to functional expenses
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  • Auditing considerations and techniques related to net assets, compliance with tax laws and regulations, collections and split-interest agreements
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  • Considerations related to Yellow Book and single audits
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Additional Information

Designed For

Auditors of not-for-profit entities

Vendor

Surgent

Advanced Preparation

None

Credits

8.00 Auditing (Governmental)

Prerequisite

Basic auditing knowledge

Course Number

2225877

Level of Knowledge

Intermediate

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