Auditing Nonprofit Entities ON DEMAND
Available Until
Your Desk
3.0 Credits
Member Price $58.00
Non-Member Price $67.00
Overview
Nonprofit entities present significant auditing challenges, since their reported results are closely tied to the nature of the contributions they receive, donor restrictions on the use of those contributions, and the need to present a high level of program effectiveness to donors. In the not-for-profit auditing CPE course, we examine how the auditor can navigate these challenges by delving into nonprofit controls, as well as audit procedures that are specific to the industry. Particular attention is paid to the auditing of contributions, donor restrictions, endowment funds, fund-raising expenses, and split-interest agreements in this nonprofit auditing CPE course.
Highlights
Areas of audit interest. Audit planning. Understanding audit risk. Materiality. Using the work of an auditor’s specialist. Developing audit documentation.
Prerequisites
None.
Designed For
Auditors, CPAs, CFPs, CEOs, and other accounting professionals.
Objectives
Recognize why an audit strategy is needed, and what it controls. Identify the issues associated with the environment in which a nonprofit operates. Specify the risk assessment steps associated with the audit of a nonprofit. Recognize when a nonprofit’s internal audit function can be used by the auditor. Identify the cash controls that a nonprofit entity might use. Specify the controls that a nonprofit entity might use over the valuation of contributions. Recognize when a misstatement is considered to be material, and more.
Preparation
None.
Notice
None.
Leader(s):
Leader Bios
Steven Bragg, Western CPE
Steven M. Bragg, CPA, is a full-time book and course author who has written more than 70 business books. He provides Western CPE with self-study courses in the areas of accounting and finance, with an emphasis on the practical application of accounting standards and management techniques. A sampling of his courses include the The New Controller Guidebook, The GAAP Guidebook, Accountants’ Guidebook, and Closing the Books: An Accountant’s Guide. He also manages the Accounting Best Practices podcast.
Steven has been the CFO or controller of both public and private companies and has been a consulting manager with Ernst & Young and an auditor with Deloitte & Touche. He holds an MBA from Babson College, a Master of Finance from Bentley College, and a BA from the University of Maine (summa cum laude).
Non-Member Price $67.00
Member Price $58.00