CPE PACKAGES (Incl. Ethics) for Multiple States and Qualifications @ $4/credit. CLICK HERE to view.

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

You need to register for the webinar to watch the video.

Click Here to Register

Before starting this self study program, please go through the instructional document.

The topic is also scheduled as live webinar on the following dates

Oct 29, 2021 | 10:00 AM EDT Register

Overview

  • AICPA Enhancing Audit Quality Initiative
    3 mins
  • Understanding
    14 mins
  • Identify & Assess Areas of Risk
    47 mins
  • Overall Financial Statement Risk.
    85 mins
  • Responding to Risks
    117 mins
  • Practice Aid Usage Issues
    143 mins

Course Description

Recent auditing standards have emphasized the initial information gathered and important conclusions reached during risk 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.

Who Should Attend?

  • Accountant
  • Accounting Firm
  • Bookkeepers & Accountants & Tax Preparers
  • CPA (Industry)
  • CPA - Mid Size Firm
  • CPA - Small Firm
  • Young CPA