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Auditing Not-for-Profit Entities: Superior Skills for an Effective and Efficient Audit (ANFP) (SUANFP04)

 
Date:Friday, December 15, 2017
Time:9:00 AM - 5:00 PM
(Registration at 8:30 AM)
Facility:Webcast or Webinar, Online
CPE Credit:8.0 Accounting and Auditing
Instructor: John C. Blanton
Vendor:Surgent McCoy
Course Level:Intermediate
Early Bird Price:$219.00 FICPA Members, $339.00 Non-Members

Description:
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 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 approach to fit the not-for-profit entity. This course is designed to help you obtain the superior skills needed to excel in auditing not-for-profit entities. The course materials utilize a highly illustrative and innovative format. Over 20 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
  • 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


Major Topics:
  • 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
  • The 2017 version of the course will also contain bonus coverage of the new ASU on not-for-profit financial statements (i.e., ASU No. 2016-14) and a discussion of issues related to the revenue recognition standard 


Who Should Attend:
Auditors of not-for-profit entities

Prerequisite:
Basic auditing knowledge

Advanced Preparation:
None

Session/Options

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Registration Status: CLOSED - Online registration for this course is now closed. Please contact the Member Service Center at (800) 342-3197 if you wish to inquire about registering.