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.

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

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

Designed For

Auditors of not-for-profit entities

Prerequisites

Basic auditing knowledge

Preparation

None

Notice

By registering for this program and, accordingly, receiving the eMaterials, you’re acknowledging that you understand both the copyright restrictions on your eMaterials and the CTCPA cancellation policy. https://www.ctcpas.org/events/cpe-policies

Fees

Credits

Level

Code

Vendor

Fields of Study

Leader(s):

Jeffrey Lieman, Lieman Associates, LLC

Leader Bios

Jeffrey Lieman, Lieman Associates, LLC

Jeffrey Lieman, CPA Mr. Lieman currently heads his own consulting firm, Lieman Associates LLC, in Owings Mills, Maryland. He provides consulting services, contractual assistance services, and training to CPAs, their firms, and their clients. He is recognized nationally as a lecturer for various accounting, auditing, and technology topics and has been quoted in various trade journals. Since 2016, he has received the Surgent Outstanding Discussion Leader Award because of his consistently high evaluations for knowledge and presentation skills. Mr. Lieman’s previous experience included serving as the chief financial examiner for the Maryland Insurance Administration and being a director for Ellin & Tucker, Chartered. He trained staff in many areas of accounting, administration, and consulting. He also served as a senior manager and national trainer with KPMG in Baltimore, Maryland where he developed training materials for staff and instructors. He was elected Chairman of the Year by the Maryland Association of CPAs for chairmanship of the Computer Resources Committee.

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