A&A Update for Nonprofits and Single Audit (2025)

Overview

This course provides a high-level overview of the most important accounting, financial reporting, compliance and audit issues facing nonprofit entities and their accountants. The focus is on explaining the basis behind major issues and trends in executive summary (yet practical) form, enabling professionals to understand the most important aspects of relevant standards, and the basis for any potential changes on the horizon.

This event may be a rebroadcast of a live event and the instructor will be available to answer your questions during the event.

Highlights

The major topics that will be covered in this course include:

Current impacts of accounting and financial reporting on nonprofit entities

Recently released FASB standards that impact nonprofit financial reporting the most

Current issues and challenges involving Yellow Book financial statement audits

Critical considerations when performing Single Audits under OMB Uniform Guidance for Federal Awards

Important AICPA professional standard developments related to providing audit and nonaudit services to nonprofits

Prerequisites

Familiarity with GAAP, SAS, Yellow Book and Single Audit

Designed For

Anyone who is responsible for preparing financial statements or performs financial statement or Single Audits

Objectives

After attending this presentation, you will be able to...

Recall recent developments of the FASB, GAO, OMB and AICPA relevant to nonprofit entities
Analyze the impact of new technical, professional, and regulatory requirements on nonprofit entities
Recall current accounting, reporting, and compliance issues faced by nonprofit entities
Apply best practices to minimize noncompliance with Yellow Book and Single Audits

Preparation

None

Credits

Specialized Credits

Level

Code

Vendor

Fields of Study

Leader(s):

Jennifer Louis, Business Learning Institute

Leader Bios

Jennifer Louis, Business Learning Institute

Jennifer F. Louis, CPA, has more than 18 years of experience in designing and instructing high-quality training programs. In 2003 she formed Emergent Solutions Group, LLC, serving organizations by providing training services on a project-specific or parttime basis.
Most recently, Ms. Louis was executive vice president / director of trainingServices at AuditWatch, Inc., a premier training and consulting firm serving the audit profession. She began her career at AuditWatch as vice president of product development. Before joining AuditWatch, Ms. Louis was the financial/operational audit manager at AARP.
Ms. Louis also was an audit manager for Deloitte & Touche LLP. During her years at Deloitte & Touche’s Washington D.C. office, she was a frequent local and national instructor. She also served as an instructor for the firm’s national “Train the Trainers” program.

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