Accounting and auditing standards keep evolving. Nonprofit entities (NFPs) and their auditors need to keep up to date with the new standards. In this session, you will learn new and proposed accounting and auditing standards and how they will impact NFPs and their auditors. Topics include FASB accounting guidance and projects, AICPA accounting and auditing guidance, and a brief single audit update.
Learning Objectives
- Upon completion of this course, you'll be able to:
- Summarize key updates in FASB and AICPA accounting/auditing standards and identify their relevance to nonprofit entities (NFPs) and auditors.
- Analyze case studies or scenarios to determine how proposed standards will impact NFP financial reporting, compliance, and audit procedures.
- Develop an action plan to implement updated standards within your NFP or audit practice, addressing challenges such as single audit requirements or technology adoption.
Major Topics
- Key updates in FASB and AICPA accounting/auditing standards and identify their relevance to nonprofit entities (NFPs) and auditors.
- Case studies or scenarios to determine how proposed standards will impact NFP financial reporting, compliance, and audit procedures.
- Action plan to implement updated standards within your NFP or audit practice, addressing challenges such as single audit requirements or technology adoption.
