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A&A Update for Nonprofits and Single Audit 8 Credits

A&A Update for Nonprofits and Single Audit 8 Credits

  • Rating

    5
  • Published on

    January, 2025
  • Subject Area

    Auditing (Govt.)

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Learning Objective

  • Describe recent developments of the FASB, GAO, OMB and AICPA relevant to nonprofit entities.
  • Explain the impact of new technical, professional, and regulatory requirements on nonprofit entities.
  • Recall current accounting, reporting, and compliance issues faced by nonprofit entities.
  • Apply best practices to minimize noncompliance with Yellow Book and Single Audits.
  • Current impacts of accounting and financial reporting on nonprofit entities.
  • Recently released FASB standards that impact nonprofit financial reporting the most.
  • Current issues and challenges involving Yellow Book financial statement audits.
  • Critical considerations when performing Single Audits under OMB Uniform Guidance for Federal Awards.
  • Important AICPA professional standard developments related to providing audit and non-audit services to nonprofits.

Course Overview

Nonprofit accounting and financial reporting are constantly evolving. With new regulations and updates from key governing bodies such as FASB, GAO, OMB, and AICPA, staying informed is crucial for professionals in this field. This CPE course offers an essential overview of the most pressing issues in nonprofit accounting, financial reporting, and audit practices.

Throughout this course, you’ll explore key developments in nonprofit accounting, including the latest FASB standards and the critical changes in federal audit requirements.Understanding these changes and their potential impact on your practice will help you effectively manage your client’s financial reporting, audits, and compliance procedures.

Major Topics Covered:

  • FASB and AICPA Updates
  • Impact of Compliance Changes
  • Yellow Book Audit Requirements
  • OMB Guidance on Audits
  • Nonprofit Reporting Challenges

Join us to gain the expertise needed to navigate these complex issues and ensure that you and your clients are always ahead of the game.

For more A&A Govt courses, Click here.

On Demand Credits for All Qualifications

Live Webinar Credits for All Qualifications

License details Credits Status
Auditing (Govt.) for Certified Public Accountants (CPA-US) 8 CPE Approved
Auditing (Govt.) for Delaware Licensed Public Accountant (DE-LPA) 8 CPE Eligible
Accounting & Auditing (Govt.) for Certified Government Financial Manager (CGFM) 8 CPE Eligible
Accounting & Auditing (Govt.) for Internal Audit Practitioner (IAP) 8 CPE Eligible
Accounting & Auditing (Govt.) for Certified Internal Controls Auditor (CICA) 8 CPE Eligible
Yellow Book Professionals 8 CPE Eligible
Accounting & Auditing (Govt.) for Qualification in Internal Audit Leadership (QIAL) 8 CPE Eligible
Auditing (Govt.) for Iowa Licensed Public Accountant (IA-LPA) 8 CPE Eligible
Auditing (Govt.) for Maine Licensed Public Accountant (ME-LPA) 8 CPE Eligible
Accounting & Auditing (Govt.) for Certified Government Auditing Professional (CGAP) 8 CPE Eligible
Auditing for Certified Controls Specialist (CCS) 8 CPE Eligible
License details Credits Status
Auditing (Govt.) for Certified Public Accountants (CPA-US) 8 CPE Approved
Auditing (Govt.) for Delaware Licensed Public Accountant (DE-LPA) 8 CPE Eligible
Accounting & Auditing (Govt.) for Certified Government Financial Manager (CGFM) 8 CPE Eligible
Accounting & Auditing (Govt.) for Internal Audit Practitioner (IAP) 8 CPE Eligible
Accounting & Auditing (Govt.) for Certified Internal Controls Auditor (CICA) 8 CPE Eligible
Yellow Book Professionals 8 CPE Eligible
Accounting & Auditing (Govt.) for Qualification in Internal Audit Leadership (QIAL) 8 CPE Eligible
Auditing (Govt.) for Iowa Licensed Public Accountant (IA-LPA) 8 CPE Eligible
Auditing (Govt.) for Maine Licensed Public Accountant (ME-LPA) 8 CPE Eligible
Accounting & Auditing (Govt.) for Certified Government Auditing Professional (CGAP) 8 CPE Eligible
Auditing for Certified Controls Specialist (CCS) 8 CPE Eligible

Additional Information

Credits

8

Course Level

Basic

Instructional Method

QAS Self Study
Group Internet Based

Pre-requisites

None

Advance Preparation

None

NASBA APPROVED

MY-CPE LLC, 1600 Highway 6 south, suite 250, sugar land, TX, 77478

MY-CPE LLC (Sponsor Id#: 143597) is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors.

Discover CPA CPE courses with MYCPE ONE, designed to make earning your credits simple and hassle-free. Our expert-led online courses cover a variety of topics tailored to your professional needs. With flexible scheduling and the freedom to learn at your own pace, we’ve reimagined continuing education for today’s busy CPA. Start your journey with us today and take the next step toward achieving your career goals!

About Instructor

Stay Ahead of the Game with Jennifer Louis CPD/CPE Webinars
Jennifer Louis , CPA (US)

President, Emergent Solutions Group LLC

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Jennifer F. Louis, CPA has over 25 years of experience in designing and instructing high-quality training programs in a wide variety of technical and “soft skills” topics needed for professional and organization success. In 2003, she founded Emergent Solutions Group, LLC, where she focuses her energy on designing and delivering high-quality, practical, and engaging accounting and auditing training. She was most recently Director of Audit Product Development at Surgent Professional Education, and prior to that served as Executive Vice President/Director of Training Services at AuditWatch, Inc., a highly-respected training and audit process consulting firm. Before joining AuditWatch, Jennifer was the Financial/Operational Audit Manager at AARP. At the start of her professional career, Jennifer was an Audit Manager for Deloitte & Touche LLP, where she frequently served as a local and national instructor. Jennifer graduated summa cum laude from Marymount University with a BBA-Accounting. Besides loving life on the lake with her husband in Charlotte, NC, she enjoys hiking with her little dog Frodo Beggins, and savoring any precious moments spent with her two young adult boys.

On Demand FAQs

What is Self Study (QAS)?

Self Study QAS (Quality Assurance Service) is a NASBA and other regulatory bodies approved program designed for Professionals to complete their Continuing Professional Education credits through self-paced, interactive courses that meet the highest standards of quality and compliance. We are approved by NASBA, IRS, CFP Board, HRCI, SHRM, Payroll Org, FP Canada, and 25+ other regulatory bodies.

How do I earn CPE credits through self-study?

To earn CPE credits, you must complete the self-study course, pass the required assessments, and submit the necessary documentation. Credits are awarded based on the completion of course hours and successfully passing the assessments.

Are the self-study courses approved by NASBA and other regulatory bodies?

Yes, all our self-study courses are approved by NASBA, IRS, CFP Board, HRCI, SHRM, Payroll Org, FP Canada, and 25+ other regulatory bodies, ensuring they meet the rigorous standards for quality and educational content set by these organizations.

What are the requirements to maintain compliance with self-study courses?

To maintain compliance, you must follow the guidelines set by NASBA and other regulatory bodies, which include completing the course within the specified timeframe, passing the assessments, and keeping accurate records of your learning activities.

How can I access my course completion certificates?

After successfully completing a self-study course and passing the assessments, you can access and download your course completion certificates from your account dashboard on our platform. These certificates are recognized by NASBA, IRS, CFP Board, HRCI, SHRM, Payroll Org, FP Canada, and 25+ other regulatory bodies for compliance and reporting purposes.

How are credits reported to governing bodies?

We issue instant credit certificates, ensuring they are valid for presentation to governing bodies. Typically, we report IRS, CTEC, CFP, IDFP, IWI, VBOA Ethics credits within 7 days – the fastest in the industry.

Live Webinar FAQs

What is a Live Webinar Group Internet-Based Credit?

A Live Webinar Group Internet-Based Credit is an interactive, real-time online seminar where professionals can earn Continuing Education credits by participating in live sessions led by experts in various fields. These sessions meet the standards set by NASBA, IRS, CFP Board, HRCI, SHRM, Payroll Org, FP Canada, and 25+ other regulatory bodies.

How do I earn credits through live webinars?

To earn credits, you must attend the entire live webinar, actively participate in any polls or questions, and complete any required evaluations or assessments. Credits are awarded based on your attendance and participation in the live session.

Are the live webinars approved by NASBA and other regulatory bodies?

Yes, all our live webinars are approved by NASBA, IRS, CFP Board, HRCI, SHRM, Payroll Org, FP Canada, and 25+ other regulatory bodies, ensuring they meet the high standards for quality, interactivity, and educational content set by these organizations.

What are the requirements to maintain compliance with live webinar courses?

To maintain compliance, you must adhere to the guidelines set by NASBA and other regulatory bodies, which include attending the full duration of the webinar, participating in interactive elements, and completing any post-webinar evaluations or assessments.

How can I access my webinar completion certificates?

After successfully attending a live webinar and fulfilling all participation requirements, you can access and download your completion certificates from your account dashboard on our platform. These certificates are recognized by NASBA, IRS, CFP Board, HRCI, SHRM, Payroll Org, FP Canada, and 25+ other regulatory bodies for compliance and reporting purposes.

How are credits reported to governing bodies?

We issue instant credit certificates, ensuring they are valid for presentation to governing bodies. Typically, we report IRS, CTEC, CFP, IDFP, IWI, VBOA Ethics credits within 7 days – the fastest in the industry.

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