Description

Auditing not-for-profits isn’t the same as auditing for-profits, so why treat them alike? This course gives you the tools to recognize what makes not-for-profits unique and shows you how to incorporate those differences into your audit approach. With practical insights and 20 focused exercises, you’ll learn how to plan and perform not-for-profit audits more effectively, efficiently, and with greater confidence.

Target Audience

Auditors of not-for-profit entities

Course 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

Subjects

• 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.)

Prerequisites

Basic auditing knowledge