Accounting and auditing standards keep evolving. Not-for-profit entities (NFPs) and their auditors need to keep up-to-date with the new standards. In this important session, you will learn about new accounting and auditing standards and how they will impact not-for-profit entities and their auditors. Topics include FASB accounting guidance, AICPA accounting and auditing guidance, and a brief single audit update. Date of recording: 1/16/2025
Learning Objectives
- Upon completion of this course, you'll be able to:
- Explain the latest FASB and AICPA accounting and auditing standards relevant to not-for-profit entities, including their implementation timelines and key compliance requirements.
- Assess the impact of new standards on NFP financial reporting, internal controls, and audit procedures to ensure accurate and transparent disclosures.
- Apply updates to single audit requirements and best practices to streamline compliance and reduce risk for both NFPs and their auditors.
Major Topics
- FASB and AICPA accounting and auditing standards relevant to not-for-profit entities.
- Impact of new standards on NFP financial reporting, internal controls, and audit procedures.
- Updates to single audit requirements and best practices to streamline compliance and reduce risk for both NFPs and their auditors.
