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Risk Assessment for Non-Profit Organizations with less than $10 Million in Revenues

  • CRMA
  • CGAP
  • CIA
  • CPA (US)
  • IAP
  • QIAL

This Course is Also Available in Self Study (On-Demand)

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  • Course Description
  • Course Qualification
  • Presenter
  • Faq

Course Description

Course Description

What are the 3 most common Risk Assessment Problems?

  • Obtain an understanding of the client:
    • Environment (underlying business/personnel and the economic outlook
    • Internal Controls (processes and the checks/balances within those procedures
  • Identify and assess areas of the greatest risk based on that understanding.
  • Respond to identified risks via procedure levels that match magnitude of risk.


Recent auditing standards have emphasized the initial information gathered and important conclusions reached during risk management and assessment procedures to identify and evaluate the risk of material misstatement in a financial statement audit. These important procedures provide the basis for determining how much effort will be invested in evaluating the design and implementation of internal controls.

Risk assessment is one of the main areas that Peer Review has been focused on since the AICPA announced in 2019 that approximately 10% of affirms had engagements that didn’t comply with the auditing risk assessment requirements. 

So how do you effectively meet the risk assessment requirements on smaller NFP organizations

This webinar will take you through 

  • The standards
  • The requirements 
  • A practical approach and 
  • Real situations.

Learning Objectives

  • To demonstrate and document understanding of client environments and internal controls
  • To identify and assess risk for the entity based on the understanding of the client.
  • To design appropriate response procedures to the risk assessed.

Recommended For

This 4 CPE webinar is recommended for Audit professionals who are involved in Audit of NFP organizations.

Who Should Attend?

  • Accountant
  • Accounting and audit managers/practitioners
  • Accounting Firm
  • Auditors
  • Bookkeepers & Accountants & Tax Preparers
  • Certified Public Accountant
  • CPA - Mid Size Firm
  • CPA - Small Firm
  • Non Profit Pros
  • Nonprofit Board Members
  • NonProfit CEOs
  • Nonprofit Executive Directors
  • NonProfit Fundraisers
  • Risk Managers
  • Young CPA

Course Qualification

Webinar Qualifies For

  • 4 CPE Credit for Certification in Risk Management Assurance (CRMA)
  • 4 CPE Credit for Certified Government Auditing Professional (CGAP)
  • 4 CPE Credit of Auditing (Govt.) for Certified Public Accountants (CPA-US)
  • 4 CPE Credit for Internal Audit Practitioner (IAP)
  • 4 CPE Credit for Certified Internal Auditors (CIA)
  • 4 CPE Credit for Qualification in Internal Audit Leadership (QIAL)

Presenter

About Presenter

Megan Angle

Partner Porte Brown

Megan Angle is a Partner with Porte Brown’s not-for-profit and audit & review services teams in the Elk Grove Village office. She has more than twelve years of experience providing tax consulting, accounting, and audit services for individuals, nonprofit organizations, and closely held businesses. She co-leads Porte Brown’s Not-for-Profit team and is also an integral leader of Porte Brown’s Audit Services team. Since the pandemic hit, Angle has been heavily involved with assisting clients with the ins and outs of the Paycheck Protection Program (PPP) and related COVID-19 business stimulus programs. Megan is the Chair of the Illinois CPA Society’s Not for Profit Committee, Board President for the Tri-Town YMCA and is a board member with her local chamber of commerce among other involvements. Prior to joining Porte Brown, Angle had 4 years of industry experience working for a Not-for-Profit organization while completing her college education. As such, she brings a unique perspective to her work.  Megan lives in the Chicagoland suburbs with her husband and two children.

About Company

Porte Brown

www.portebrown.com/

Porte Brown LLC is a full-service accounting and consulting firm headquartered in the Chicago suburb of Elk Grove Village, Illinois. For more than 75 years, Porte Brown has focused on providing the highest level of service to individuals, businesses, and organizations throughout the region. In addition to the traditional accounting services such as tax planning and preparation, audit, business valuations, and retirement plan administration. Porte Brown also provides strategic consulting and leading-edge technology implementation for clients in cloud and non-cloud environments.

Faq

FAQs content

  • To receive Continuing Education credit for the event, you must register for the webcast prior to the start of each program.
  • Continuing Education Credit Certificate is available to all eligible participants within 24 hours of each webinar.
  • You must attend complete live webinar and respond to all polling questions asked during the webinar. Credits would be issued on 50 minute credit hour basis.
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  • This event may be a recorded rebroadcast of a live event done in past and the instructor will be available to answer your questions during/after the webinar.
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  • Our courses meet the global Continuing Professional Development (CPD-IES7) Standard for Chartered Accountants with International Education Standard 7 (IES 7) set by The International Federation of Accountants (IFAC), the International Accounting Education Standards Board (IAESB) and the Association of Chartered Certified Accountants (ACCA). Based on our accreditation by existing IFAC members and affiliates, we believe learners can count their professionally relevant, verifiable learning activities on myCPE, including taking on demand courses and attending live webinars, toward fulfillment of their verifiable CPD-IES7 requirements. However, if there is any question, we recommend that the individual learner confirm with his/her professional licensing organization before taking myCPE courses for CPD-IES7 credit.
  • You can manage your continuing education certificates and credits through your certificate dashboard which is available when you are logged in to your account (LOGIN)
  • As an accredited provider of Continuing Professional Education in the United States, myCPE online learning platform, courses, and webinars meet the requirements set forth by the Institute of Management Accountants (IMA), an IFAC Member Organization, as well as the National State Boards of Accountancy (NASBA) and the Institute of Internal Auditors (IIA), both IFAC Affiliates. As well as it has been approved by NASBA, Internal Revenue Service (IRS), Certified Financial Planner Board (CFP Board), California Tax Education Council (CTEC), Society of Human Resource Professional (SHRM), Human Resource Certification Institute (HRCI) and many more.Therefore, we believe learners can count their professionally relevant, verifiable learning activities on myCPE, including taking on demand courses and attending live webinars, toward fulfillment of their verifiable continuing education requirement as CPD-IES7 requirements. However, if there is any question, we recommend that the individual learner confirm with his/her professional licensing organization before taking myCPE courses for CPD-IES7 credit.
  • myCPE Courses are taken by : CPA | CMA | CFE | CIA | CPA(Yellow Book)| CFP | CFA | CPA (Govt.) | EA | CRTP | MRTP | ORTP | ABV | CITP | CVA | PFS | CFF and others.

Ratings and Review

4.7

13 Ratings

Excellent

10

Very Good

3

Average

0

Poor

0

Terrible

0

LW

Latoya Washington, ACCT/BK

Dec 30th, 2021

This was a very informative course. I would recommend.

CS

Corrie Scott, CPA (US)

Jun 1st, 2021

This class was very informative! The presentation was fantastic.

Risk Assessment for Non-Profit Organizations with less than $10 Million in Revenues

$40

4 Credits

Subject Area

Auditing (Govt.)

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