Auditing Considerations: Not-for-Profit Governance and Assurance
This Not-for-Profit Auditing Considerations course examines governance, assurance, and audit considerations relevant to nonprofit organizations. This course explores key auditing considerations for NFP financial statements, compliance requirements, internal control considerations, and unique audit areas such as endowment funds, split-interest agreements, and tax-exempt debt.
CPE Credit
2.0 Hours
DELIVERY METHOD
Self-Study (On Demand)
LEVEL
Basic
PREREQUISITES
None
PRICING
$119.50 per year
Course Description
Auditing Considerations: Not-for-Profit Governance and Assurance examines the audit environment for not-for-profit organizations and the financial reporting issues that commonly arise during an NFP audit engagement. This course focuses on audits performed in accordance with Generally Accepted Auditing Standards (GAAS) and reviews the financial statements commonly subject to audit, including the statement of financial position, statement of activities, statement of cash flows, and related disclosures.
Participants will review audit considerations unique to the not-for-profit sector, including revenue recognition issues, cash and cash equivalents, endowment funds, split-interest agreements, tax-exempt debt, net assets, and compliance with laws and regulations. The course is designed as a foundational learning experience for accounting professionals seeking a practical understanding of governance and assurance considerations within nonprofit organizations.
What You’ll Learn
After completing this course, participants will be able to:
- Identify general considerations related to an audit of a not-for-profit organization
- Recall the primary financial statements subject to audit in an NFP engagement
- Recognize auditing considerations related to cash and cash equivalents and endowment funds
- Identify special auditing considerations associated with NFP revenues and related receivables
- Recognize audit issues involving split-interest agreements and tax-exempt debt
- Identify auditing considerations related to net assets and the statement of activities
- Recall audit issues related to compliance with laws and regulations
- Understand how internal control and governance impact the audit process for nonprofit organizations
Who This Course Is For
This course is designed for:
- CPAs working with not-for-profit organizations
- Accounting professionals new to nonprofit auditing
- Board members seeking a stronger understanding of nonprofit governance and assurance
- Financial professionals responsible for nonprofit financial oversight
- Practitioners seeking a refresher on foundational NFP audit considerations
Key Topics Covered
- Audits of not-for-profit organizations
- Generally Accepted Auditing Standards (GAAS)
- NFP financial statements and disclosures
- Statement of financial position
- Statement of activities
- Statement of cash flows
- Cash and cash equivalents
- Endowment funds
- Revenue and receivable audit considerations
- Split-interest agreements
- Tax-exempt debt
- Net assets and net asset classifications
- Internal control considerations
- Compliance with laws and regulations
- Governance and assurance considerations for nonprofit organizations
Why This Course Matters
Understanding auditing considerations in not-for-profit organizations is important for evaluating governance structures, internal controls, and assurance responsibilities within nonprofit environments. Auditors and finance professionals must assess risk, compliance requirements, and operational considerations that are unique to not-for-profit entities.
A structured understanding of nonprofit governance and assurance practices supports more effective audit planning and evaluation of financial reporting processes. For additional guidance on nonprofit auditing and accounting considerations, professionals may refer to AICPA resources.
Explore additional Auditing CPE Courses to further strengthen your understanding of nonprofit governance, assurance, and audit practices.
Pricing & Access
$119.50 per year — Unlimited CPE Access
When you enroll, you receive full access to all courses in our catalog for one full year, including this course and every other available offering.
Unlike many CPE providers, we do not charge by the credit hour and we do not impose course expiration dates. Once you’re enrolled:
- All courses are included — no per-course or per-credit fees
- Your access lasts for a full year from your enrollment date
- Your completed course certificates remain available in your portal
- You can complete courses at your own pace, on your own schedule
This single annual enrollment gives you the flexibility to earn CPE hours when you need them — without worrying about expiring credits or additional costs.
Frequently Asked Questions
Is this course NASBA-compliant?
Yes. This course meets NASBA CPE requirements.
How is the course delivered?
On-demand, self-study format with quizzes for knowledge checks.
Can I complete this course at my own pace?
Yes. You may start, stop, and resume the course as needed.
