On-Demand

11 CPE Credits

Not-for-Profit Certificate I (On-Demand) 2022

On-Demand
11 CPE Credits

  • Instructor

    Karen
    Craig

This track will provide a foundation in board governance and financial oversight of not-for-profit entities (NFPs) with a focus on governance practices, risk management, internal control, audit planning and preparation. Topics include auditor communications to those charged with governance, risk assessment and fraud prevention for NFPs. Also discussed is the board’s role in oversight, budget and strategy. This interactive 11-hour CPE program contains real-world examples, case studies, animations and videos to create a flexible, dynamic learning experience that you can complete anytime, anywhere.

Courses Included in this track

  • Best Practices in Board Governance
  • Risk Assessment and Internal Controls
  • Fraud Overview and Prevention
  • Auditing Considerations
  • Planning the Audit Engagement
  • Financial Oversight, Budget and Strategy

Learning Objectives

  • Recall the roles and responsibilities that are typically assumed by an NFP’s governing body and management
  • Identify common risks faced by NFPs and apply the Enterprise Risk Management (ERM) framework to identify and manage those risks
  • Recall how to apply concepts of internal controls within the NFP reporting environment and governance structure
  • Recognize techniques used to interpret an NFP’s financial statements, prepare a budget and measure performance
  • Identify the key steps to planning an audit and recall some of the basic documentation and procedures performed by an NFP’s independent auditors
  • Recognize and effectively respond to common fraud risks in NFPs

Major Topics

  • Meaning of exempt purpose
  • Related vs. unrelated activities
  • Definition of unrelated business income
  • Consequences of excessive unrelated business income
  • Exempt vs. non-exempt income
  • Statutory exemptions and exclusions
  • IRS Filing Requirements

CPE Credits Available

11 CPE Credits
6
Auditing
5
Business Management & Organization

Things to Know About This Course

Course Level

  • Basic

Prerequisites

Knowledge of the not-for-profit industry

Advanced Preparation

None

Intended Audience

- CPA and non-CPA staff at small to mid-sized firms who perform not-for-profit financial reporting engagements, including partners and managers at these firms who wish to enter the NFP industry and need a basic understanding of the sector.

- Board members and financial or non-financial staff members at not-for-profit organizations who are new to NFPs or who wish to expand on their understanding of the fundamental financial management issues that are unique to NFPs. A basic understanding of accounting is recommended.

Provider

AICPA - Durham

This can not be purchased at this time.