Peer review deficiencies and professional liability claims result from both audit and nonaudit services. This course will provide best practices for avoiding legal liability and quality control concerns for a wide variety of professional services offered by public accountants.
DESIGNED FOR
All accounting/auditing professionals
BENEFITS
- Recognize the impact of recently issued accounting standards on not-for-profit organizations
- Identify key elements and objectives of the International Non-Profit Accounting Standard (INPAS)
- Recall the impact of recent AICPA standards and proposals on audit and attestation engagements affecting not-for-profits
- Identify key quality management requirements related to monitoring and remediation
- Recognize changes affecting Single Audits resulting from the 2024 Uniform Guidance and related guidance
- Recall key regulatory and implementation updates relevant to Single Audits for not-for-profit organizations
HIGHLIGHTS
- Accounting Standards Updates (ASUs) affecting not-for-profit organizations
- Introduction to and comparison of the International Non-Profit Accounting Standard (INPAS)
- U.S. GAAP considerations for NFP financial reporting
- AICPA auditing and attestation updates
- Quality management: monitoring and remediation responsibilities
- Updates to SSAEs, SSARSs, and group audits
PREREQUISITES
Prior experience with nonprofit accounting and auditing
ADVANCE PREPARATION
None