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

Overview

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 cannot simply 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 the audit approach to fit the not-for-profit entity. This course is designed to help you do just. It will 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.

Highlights

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

Prerequisites

Basic auditing knowledge

Designed For

Auditors of not-for-profit entities

Objectives

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

Preparation

None

Notice

This on-demand webcast can be taken at any time of your choosing and is valid for one year from the date of purchase. No live instructor is present, and an exam is required to earn credit. You must score 70% or higher to earn the certificate.

How do I access my Self-Study Package?

Visit https://www.surgentcpe.com/login and enter your username (your LCPA email address) and password. If you do not remember your password, press the "Forgot?" button to receive a password reset email. Once logged in, the page will refresh to display your account menu on the left side.