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.