4062  |  On Demand  |  Basic  |  Self-Study

Planning the Audit Engagement

Friday, May 1, 2020 - Friday, April 30, 2021

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The key to an effective audit is adequate planning and preparation, as well as two-way communication between an NFP's independent auditors and management. Audit planning involves: performing preliminary engagement activities; establishing an overall audit strategy and communicating with those charged with governance an overview of the planned scope and timing of the audit; developing a detailed, written audit plan; determining direction and supervision of engagement team members and review of their work; and determining the extent of involvement of professionals with specialized skills. This CPE course provides guidance for planning a not-for-profit (NFP) audit engagement.

Objectives

  • Recognize the unique characteristics of NFPs and considerations for audit planning;
  • Recall the key steps to planning an audit engagement;
  • Identify basic audit documentation that is needed for audit planning and preparation
  • Recall the auditor's responsibility for fraud.

Instructors

  • Karen Craig

Designed For

CPAs who perform not-for-profit (NFP) audit engagements as well as staff and board members at small- and medium-sized NFPs.


Highlights

  • NFP audit overview
  • Understanding the entity and its environment
  • Unique reporting requirements for NFPs
  • Audit planning
  • Internal controls
  • Risk assessment
  • Considerations of fraud
  • Auditor documentation

Your Price: $59.00

This is your base price and does not reflect any additional session fees, optional add-ons, or guest registrations.

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