Unique Areas for Auditing of Not-for-Profit Organizations (Completed)

Date: Wednesday, August 17, 2022
Instructor: Diane Edelstein
Begin Time:  9:00am Pacific Time
10:00am Mountain Time
11:00am Central Time
12:00pm Eastern Time
CPE Credit:  2 hours for CPAs

The auditing of a Not-for-Profit Organization (NPO) is similar in many ways to the audit of any organizations. However, there are key differences in auditing NPOs that we will look at that include fee for service versus contributions; conditional vs restricted contributions; along with auditing donated goods and services and agency transactions.

Who Should Attend
This session is for auditors and also helpful to the NPO financial personnel.

Topics Covered

  • Big picture differences between NPOs and for-profit entities
  • Required NPO financial statement reporting
  • Grants and Contracts are they exchange transactions or contributions
  • Conditional vs Unconditional contributions
  • The unique areas of donated goods and services and agency transactions

Learning Objectives

  • Recognize the big picture differences in NPOs
  • Identify specific NPO financial statements
  • Differentiate between exchange transactions and contributions when it comes to grants and contracts
  • Differentiate between conditional and unconditional contributions
  • Recognize the requirements of donated goods and services and agency transactions

Level
Basic

Instructional Method
Group: Internet-based

NASBA Field of Study
Auditing (2 hours)

Program Prerequisites
None

Advance Preparation
None

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