This course is designed to assist accountants and auditors who are working with smaller not-for profit organizations and governmental entities. The course contains a presumption that there will be a lack of segregation of duties in the internal controls of the organizations. We will review compensating and mitigating controls for the lack of segregations of duties and will discuss developing cost-effective internal controls for organizations with limited budgets.
Publication Date: October 2022
Designed For
CFOs, CEOs, CPAs, CMAs, CIAs, MAFFs, CGMAs, CFEs, business owners, business managers, internal auditors, external auditors, corporate accountants, government accountants and risk management personnel.
Topics Covered
- Risks & Internal Controls
- Review of the Financial Statement Assertions
- Internal Controls
- COVID-19 Issues
- Evaluating Internal Controls
Learning Objectives
- Identify the need for internal controls in small not-for-profits
- Identify the need for internal controls in small Governmental entities
- Recognize how to design internal controls for governments and not-for-profits
- Identify the special risk that is more applicable to not-for-profits than for governments
- Identify the first step in the COSO process for creating internal controls
- Recognize what is not normally used to document internal controls
- Identify what does not constitute a compliance risk for an organization
- Identify the statute of limitations for COVID-19 stimulus plans such as PPP and EIDL loans
Level
Intermediate
Instructional Method
Self-Study
NASBA Field of Study
Auditing (Governmental) (2 hours)
Program Prerequisites
An understanding of the COSO Framework on Internal Controls.
Advance Preparation
None
Instructor
Robert K Minniti
DBA, CPA, CFE, Cr.FA, CVA, MAFF, CFF, CGMA, PI
Dr. Minniti is the President and Owner of Minniti CPA, LLC. Dr. Minniti is a Certified Public Accountant, Certified Forensic Accountant, Certified Fraud Examiner, Certified Valuation Analyst, Certified in Financial Forensics, Master Analyst in Financial Forensics, Chartered Global Management Accountant, and is a licensed private investigator in the state of Arizona.
Dr. Minniti received his doctoral degree in business administration from Walden University, received his MBA degree and Graduate Certificate in Accounting from DeVry University’s Keller Graduate School of Management, and received his Bachelor of Science in Business Administration degree from the University of Phoenix. Dr. Minniti taught graduate and undergraduate courses in forensic accounting at DeVry University, Grand Canyon University, Kaplan University, Northwestern University, and the University of Phoenix. He designed graduate and undergraduate courses for Grand Canyon University, Northwestern University, and Anthem College.
He is a writer and public speaker. He has experience in forensic accounting, fraud examinations, financial audits, internal audits, compliance audits, real estate valuations, business valuations, internal control development, business continuation planning, risk management, cyber security, privacy laws, data security, Sarbanes-Oxley compliance work and business consulting. In addition to his practice Dr. Minniti is an instructor teaching continuing professional education classes for a variety of providers and CPA Societies.
Dr. Minniti is currently serving as a board member on the National Association of Certified Valuators and Analysts' (NACVA) Litigation Forensics Board (LFB) and as a committee member on the Arizona State Board of Accountancy's Law Review Advisory Committee.