It’s crazy to try to audit not-for-profits in the same manner that you do for-profits! The sane approach to auditing not-for-profits is to incorporate what makes them unique into the planning and performance of the audit. This course is designed to help you do just that! Obtain a superior working knowledge of auditing not-for-profit entities effectively and efficiently.
Learning Objectives
- Identify the ways not-for-profit auditing differs from commercial sector auditing
- Skillfully adjust audits to suit the characteristics of not-for-profit entities
- More efficiently audit not-for-profits using enhanced knowledge of key issues
Major Topics
- How distinctive funding sources, different operating purposes, and lack of ownership interests affect risk assessment and planning in the audit of a not-for-profit
- Key considerations and auditing procedures applied in auditing contributions, functional expenses, net assets, etc.
- Frequent issues arising in audits of not-for-profits (e.g., independence concerns, communicating with those charged with governance, Yellow Book audits, single audits, etc.)
