Program Description:

Hours:  8 Total- 6 A&A, 2Tax (8_Specialized Knowledge and Applications)

This year’s ACPEN Not-For-Profit Update will provide critical training on the latest developments in the auditing, tax and accounting issues impacting Nonprofit Organizations for those who provide accounting and financial services to these increasingly important organizations, who serve as board members of them and those who audit not-for-profit organizations.

Our panel of experts will bring to bear their many years of practice experience focused on the unique issues affecting nonprofits and share with you their insights in navigating the many changes in the way NPOs are being regulated. 

Included within this up-to-the-minute course will be the following:

-Audit quality issues including those affecting the American Recovery and Reinvestment Act (ARRA).

-Implementation strategies for the most recent regulations, as well as proposed changes for not-for-profit organizations and governments, including FAS 157, Fair Value Measurements, and FAS 164, Mergers and Acquisitions by a not-for-profit.

-The most recent updates for auditing Federal funding, including changes to OMB Circular A133 and the Compliance Supplement, as well as auditing and reporting ARRA funding.

-Practice tips for improving the quality of conducting not-for-profit and single audits.

-Current income tax issues related to NFP organizations including FIN 48, the new form 990 and auditing unrelated business income accruals.

The course will also have a special focus on Accountability and Transparency. A special panel of experts will respond to attendees’ questions about what these terms mean in practice and how can my organization get there--regardless of its size and resources. The panel will be made up of nonprofit leaders and CPAs who work every day on these issues trying to get their organizations and clients to comply and excel in these critically important areas.