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Join this extensive workshop to learn about enhancing and synchronizing your not-for-profit financial and tax reporting. This session will include a critique and examples of various audited not-for-profit financial statements, Form 990 and other tax/legal disclosures.
It’s no longer business as usual for nonprofit leaders, local and state governments, and those that advise them. The COVID-19 pandemic, protests and unrest around racial justice, and a fluid political and economic climate have upended all facets of the nonprofit landscape.
Add to this evolving technology, shifting donor behaviors, and changing demographics as even more factors disrupting the way nonprofits fundraise and communicate with supporters. How can organizations of all sizes and structures keep up with the breakneck pace of change? Don’t despair - there is hope!
In this talk, author and nonprofit communications expert Julia Campbell details the steps necessary to future-proof your organization so that you can confidently adapt, evolve, and thrive (not just survive) in the next decade and beyond.
Audiences will walk away inspired and motivated with an understanding of the following:
Anticipated outcomes for participants:
They will walk away with:
This session will introduce attendees to the current activities of the Auditing Standards Board, including a discussion on recently issued standards and how they will impact planned audit procedures and reporting practices.
This session will focus on the internal control requirements of the Uniform Guidance. From AICPA, Green Book, and the Uniform Guidance come the standards to be followed related to Internal Control in a Single Audit. In this session, we will explore all of the available guidance and discuss how it applies to the audit of Federal programs.
Building on the concepts learned in the previous Internal Controls in a Single Audit session, this session will focus on the process of identifying effective internal control over compliance and how the auditor decides whether a control is designed and implemented effectively.
With complex rules and auditor judgment, determining your Major Programs is no easy feat. This session will discuss how to apply the Uniform Guidance risk-based approach to major program determination. We will go over using this approach to select major programs, including the impact of the new COVID-19 related federal programs, SEFA reporting, and other factors that impact major program determination.
The pandemic has brought with it a pandemic of new fraud schemes. In this session, we'll look at the largest frauds of the year, the COVID-19-related fraud schemes, and what you can do to protect yourself and your organization.
Federal agencies are busier than ever due to the historic federal funding distributed in response to the COVID-19 pandemic. Activities include administration and oversight of the funding. Hear from 2 federal agency representatives on related federal activities and views on single audits. Among the topics to be covered are: (1) the impact of the COVID-19 pandemic on single audits, (2) tips to auditors based on quality control and desk reviews of single audits, and (3) federal oversight activities of COVID-19 funding.
This session will provide an overview of how recent GASB pronouncements are expected to impact financial reporting for Tribal governments and their businesses. We will also discuss several of the Federal programs provided to Tribes in response to the COVID-19 pandemic and review significant audit risks around each of these programs.
Being audit-ready in today's remote work environment can be challenging, and requires an emphasis on improving controls surrounding the digital world. In this session, we've compiled examples of workflow automations and other tools that entities can use to not only improve internal controls but also strengthen communication and documentation in a remote work environment.
Uncertainty about the COVID pandemic’s current and long-term impact on the not-for-profit industry has continued into 2021. Cancelled fundraising events, loss of funders or corporate partners and challenges meeting funder requirements or grants/contracts with government agencies at risk are at the forefront of such top issues facing nonprofits. This session will cover some of the financial statement impacts, auditing considerations, federal grant compliance and operational challenges that organizations are enduring. The presenters will discuss federal relief funds, internal control impacts and various other topics based on their experiences with a wide range of not-for-profit organizations as auditors and as board members.
Sampling in a single audit can become complicated. This session will offer a review of single audit testing basics, which often includes sampling. Examples will demonstrate how the mixture of facts, decisions and auditor judgments all impact sampling.
Don't miss this informative session on complex, odd and strange accounting issues faced by not-for-profit organizations. Accounting professionals will focus on types of transactions that require extensive research and judgement where authoritative guidance requires judgement.
Sampling concepts learned in the previous sampling session will be expanded to real life situations auditors may encounter on a single audit. This session will include several different case studies to provide examples on how to apply sampling concepts and work through difficult and challenging issues when sampling in a single audit.
The world of single audits is more challenging than ever due to the historic amounts of federal funding that have been provided in response to the COVID-19 pandemic. Now is the time to make sure you are up-to-date as there are new programs, changing rules, and things are moving quickly. This session will help you understand the following: Key aspects of the 2021 Compliance Supplement; COVID-19 implications; and other single audit developments.
The AICPA Professional Ethics Executive Committee issued the State and Local Government Client Affiliates interpretation, and the related Implementation guide, to provide guidance to auditors of state and local government entities in evaluating affiliates of those entities. This session will go through an overview of the revised interpretation, discuss examples of how affiliates would be evaluated using this interpretation, and discuss the tools to assist in the evaluation.
This session will focus on the financial reporting entity and allow attendees to:
With all the pressing matters of the past 18 months, your organization may be running on auto-pilot for tax matters. Many organizations do not take the time to do "Spring Cleaning" annually. Let's look at ten issues all organizations should consider, including those related to COVID, and use this as an annual checklist of tax topics to be assessed.
2020 and 2021 have brought numerous opportunities for NFPs to receive federal assistance by means of credits, grants, loans, deductions, and filing extensions. However, along with these opportunities have come many challenges. This session will survey many of the programs that NFPs have available to them such as PPP, ERC, HEERF, EIDL and tips and nuances regarding the technical reporting requirements that must be adhered to.
As governments and auditors prepare for implementation of the new lease accounting and financial reporting standard we will focus on real life examples and practical implementation issues including:
Technology is rapidly changing and organizations are having to make significant investments to keep up pace. We will discuss new technologies impacting not-for-profits, governmental organizations, and their CPAs. New technologies like the rising presence of digital assets and blockchain have also created new opportunities to accomplish your mission, make investments, as well as fundraise. We will also cover relevant cyber risks and common gaps organizations can identify and address.
Join us to explore the entirety of the OMB Compliance Supplement and understand not only how all the main parts fit together, but what can be found in the nooks and crannies of the appendices. Take a deep dive into each of the 12 compliance requirements. Discussions will include the intent of each, why it is important, and how to develop tests of compliance.