Audit of Not for Profits and Charities

This course provides a detailed understanding of the audit process as it applies to not-for-profit organizations (NPOs) and charities. These entities operate within a unique regulatory, operational, and financial reporting environment that presents distinct challenges for auditors. Whether funded by grants, donations, or endowments, the assurance needs of stakeholders including boards, donors, and regulators are critical in ensuring transparency and accountability. The course is designed to build the auditor's competence in planning and performing risk-based audits in the charitable sector, with a strong emphasis on compliance, fund accounting, internal controls, and fraud risks. It covers international and jurisdiction-specific financial reporting frameworks (such as SORP, IFRS for NPOs, and FASB ASC 958), and explains how to tailor audit procedures for common areas such as donations, grants, restricted funds, payroll, and charitable expenditure. Through a blend of theoretical learning and real-world case studies, participants will gain the skills to conduct high quality audits that enhance public trust. You will learn how to assess governance structures, identify fraud red flags, and issue audit reports in accordance with international auditing standards. Ideal for auditors, accountants, and financial managers working with or within not-for-profits, this course also benefits anyone looking to strengthen their understanding of accountability and financial stewardship in the non-profit sector. By the end of this course, you will be equipped with the tools and confidence to perform audits that meet the highest standards of professional and ethical practice in the not-for-profit environment.