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CPE Self-Study

Risk Assessment: Not-for-Profit Governance and Assurance

  • $49.00-$59.00
    Risk Assessment: Not-for-Profit Governance and Assurance Availability : Online Access Product #: 165436
    AICPA Member: $49.00
    Non-Member: $59.00
  • Contact Sales
    Contact a representative for group pricing. 800.634.6780 (Option 1) | Contact Us Product #: GT-NFP2-GRA6

This video-based CPE course is included in Not-for-Profit Certificate II. It can be purchased individually or as a part of the Not-for-Profit Certificate II - Governance and Assurance track.

Like all businesses, not-for-profits (NFPs) live in a world of uncertainty. Identifying and managing risks is an ongoing process used by an NFP’s leadership team and its internal and external auditors for informed decision-making. Risks identified during the audit planning process will affect the audit approach and enable auditors to make recommendations. An NFP’s leadership team often conducts an internal risk assessment, taking into consideration auditor recommendations, to evaluate risks and develop a response strategy.

This CPE course offers you detail-rich examples and a case study that will help you identify, assess, and respond to significant risks within an organization.

Included in the course resources is an excerpt from the AICPA Not-for-Profit Entities - Audit and Accounting Guide, as well as a risk summary mapping document that will assist in assessing risk for significant account balances.

Topics Discussed

  • Identifying, assessing and responding to risks.
  • Assessing the adequacy of controls over financial reporting.

Learning Objectives

  • Apply the generally accepted auditing standards when assessing risk as part of planning an audit of a not-for-profit (NFP).
  • Determine audit procedures to address risks.

Prerequisite: Knowledge of the not-for-profit sector and experience performing audits or working with auditors.

Advanced Preparation: None

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

Audrey L. Newton, CPA, Partner, Johnson Lambert LLP

Johnson Lambert LLP

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.