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CPE Self-Study

Risk Assessment and Internal Controls: Not-for-Profit Governance and Assurance

  • $59.00-$69.00
    Risk Assessment and Internal Controls: Not-for-Profit Governance and Assurance Availability : Online Access Product #: 165152
    AICPA Member: $59.00
    Non-Member: $69.00
  • Contact Sales
    Contact a representative for group pricing. 800.634.6780 (Option 1) | Contact Us Product #: GT-NFP-GRA2

This CPE course is included in the 40-hour Not-for-Profit Certificate Program. It can also be purchased individually or as a part of the Not-for-Profit Governance and Assurance track.

Some organizations give too low a priority to risk management because it is not perceived as urgent. When this is the case, risks can quickly develop into crises. At that point, it is too late to plan ahead, and the organization may not be able to handle situations in an optimal way. It is vital for all not-for-profit entities (NFPs) to have a risk management system designed for their size and complexity. This CPE course provides an overview of risk assessment and internal controls for NFPs.

Topics Discussed:

  • Managing risk
  • Risks unique to NFPs
  • Enterprise Risk Management (ERM)
  • COSO ERM framework
  • Employing ERM in smaller NFPs
  • Internal controls
  • COSO Internal Control Framework
  • How to design a system of internal control
  • Conflicts of interest

Learning Objectives:

When you complete this course, you will be able to:

  • Identify the risks faced by NFPs, including those related to reputational risk and compliance risk;
  • Recall the concepts of internal controls as they relate to NFPs;
  • Recognize the concepts of Enterprise Risk Management; and
  • Indicate how the COSO framework should be applied to NFPs.

Who Will Benefit?

  • CPAs, financial professionals and NFP board members involved with risk assessment and internal controls.

Prerequisite: None

Advanced Preparation: None

Discount

Not-for-Profit Section Members Receive Additional Savings! 

When you log into this website with your AICPA member user account, the section/credential discount will be automatically applied during checkout. Should you have any questions or encounter any issues, please contact the AICPA Service Center at 888-777-7077 or service@aicpa.org.

Find out more information on the NFP Section.

System Requirements

About the Authors

Karen Craig

About the Publisher

American Institute of CPAs

The American Institute of CPAs (AICPA) is the world’s largest member association representing the CPA profession, with more than 418,000 members in 143 countries, and a history of serving the public interest since 1887. AICPA members represent many areas of practice, including business and industry, public practice, government, education and consulting.

The AICPA sets ethical standards for the profession and U.S. auditing standards for private companies, nonprofit organizations, federal, state and local governments. It develops and grades the Uniform CPA Examination, and offers specialized credentials for qualified professionals who concentrate on personal financial planning; forensic accounting; business valuation; and information management and technology assurance. With The Chartered Institute of Management Accountants (CIMA), it offers the Chartered Global Management Accountant (CGMA) designation, which sets the global benchmark for quality and recognition in management accounting.

The AICPA and CIMA also make up the Association of International Certified Professional Accountants (the Association), which represents public and management accounting globally, advocating on behalf the public interest and advancing the quality, competency and employability of CPAs, CGMAs and other accounting and finance professionals worldwide.

The AICPA maintains offices in New York, Washington, DC, Durham, NC, and Ewing, NJ.