Risk Assessment and Internal Controls: Not-for-Profit Governance and Assurance

Overview

All organizations face uncertainty and must manage risk daily. Risk management is of vital importance for not-for-profit entities (NFPs) due to their public interest obligations.

Highlights

Key Topics

• Risk management
• COSO Enterprise Risk Management (ERM) framework
• COSO Internal Control Framework

Prerequisites

None

Designed For

Who Will Benefit

CPAs, board members, and accounting professionals new to NFPs or in need of a refresher.

Objectives

Learning Outcomes

• Recognize the need for risk management.
• Recognize the concepts of the COSO Enterprise Risk Management (ERM) framework.
• Recall how the COSO Internal Control Framework applies to NFPs.
• Identify compliance and other risks NFPs face.