A&A Update for Nonprofits and Single Audit (2025)

Overview

This course provides a high-level overview of the most important accounting, financial reporting, compliance and audit issues facing nonprofit entities and their accountants. The focus is on explaining the basis behind major issues and trends in executive summary (yet practical) form, enabling professionals to understand the most important aspects of relevant standards, and the basis for any potential changes on the horizon.

This event may be a rebroadcast of a live event and the instructor will be available to answer your questions during the event.

Objectives

After attending this presentation, you will be able to...

Recall recent developments of the FASB, GAO, OMB and AICPA relevant to nonprofit entities
Analyze the impact of new technical, professional, and regulatory requirements on nonprofit entities
Recall current accounting, reporting, and compliance issues faced by nonprofit entities
Apply best practices to minimize noncompliance with Yellow Book and Single Audits

Highlights

The major topics that will be covered in this course include:

• Current impacts of accounting and financial reporting on nonprofit entities

• Recently released FASB standards that impact nonprofit financial reporting the most

• Current issues and challenges involving Yellow Book financial statement audits

• Critical considerations when performing Single Audits under OMB Uniform Guidance for Federal Awards

• Important AICPA professional standard developments related to providing audit and nonaudit services to nonprofits

Designed For

Anyone who is responsible for preparing financial statements or performs financial statement or Single Audits

Prerequisites

Familiarity with GAAP, SAS, Yellow Book and Single Audit

Preparation

None

Notice

You will receive an email from CPA Crossings via Webex with instructions to access the webinar.

Fees

Credits

Specialized Credits

Level

Code

Vendor

Fields of Study

Leader(s):

Jennifer Louis, Business Learning Institute

Leader Bios

Jennifer Louis, Business Learning Institute

Jennifer F. Louis, CPA has over 14 years of experience in designing and presenting high-quality training programs in a wide variety of technical and “soft skills” topics needed for professional and organizational success. In 2003, she co-founded Emergent Solutions Group, LLC, a consortium of professionals serving organizations on a project or part-time basis, to create a division dedicated to training services. She was most recently Executive Vice President/Director of Training Services at AuditWatch, Inc., a highly respected training and consulting firm serving the audit profession.

During her six years at AuditWatch, Ms. Louis served in many other capacities, including Vice President of Product, and instructor and consultant for the firm’s Audit Productivity Improvement ProgramTM and various other training courses. She also co-authored a manual on value-added auditing.

Before joining AuditWatch, Ms. Louis was the financial/operational audit manager at AARP. While at AARP, she served as one of their specially trained facilitators available as a resource throughout the organization for designing and leading strategic meetings and training sessions. Ms. Louis was also an audit manager for Deloitte and Touche, LLP. During her years in that firm’s Washington, D.C. office, she served as an instructor for the firm’s national “Train the Trainers” program.

Ms. Louis graduated summa cum laude from Marymount University with a BBA in accounting. She is also a member of several prestigious professional associations.

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