Many government and not-for-profit (NFP) organizations require an audit. Since the fiscal year end for many of these organizations is something other than Dec. 31, this type of service presents an opportunity for CPA firms to shift work outside of the traditional busy season. Additionally, these engagements provide audit staff with fresh experiences and industry exposure. The benefits of providing audit services to government and NFP organizations are numerous, yet they may present unforeseen professional liability risks for firms without the necessary knowledge and expertise in these specialized areas.
This webinar is aimed to provide an introduction to accounting and auditing that is unique to nonprofits and governments. It will cover :
- Yellow Book
- Nonprofit accounting and unique differences
- Introduction to the unique requirements of governmental accounting
- Explanation of what a uniform guidance compliance audit is and how it is different from financial audits
This foundational course is perfect for those getting started in the nonprofit and governmental arena and those looking for a refresher.
Yellow Book Boot Camp Part 2 is expected in the fall after the COVID Compliance Supplement is issued. It will cover key changes in accounting & auditing that impact nonprofits and governmental entities. Part 2 is great for experienced professionals as well as those who have completed the Part 1 webinar.