Internal Controls for Smaller Not-For-Profit and Governmental Entities
Author: Robert K Minniti
| CPE Credit: |
2 hours for CPAs |
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, which is usually caused by budget constraints. 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: May 2025
Designed For
This course would be appropriate 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 and Internal Controls
- Review of the Financial Statement Assertions
- Internal Controls
- Proposed Greenbook Update
- Evaluating Internal Controls
Learning Objectives
- Identify how to work around issues with segregation of duties
- Explain how to develop cost effective internal controls
- Identify GASB Standards
- Identify the GAO Greenbook requirements
- Identify the need for internal controls in small not-for-profits
- Identify the need for internal controls in small Governmental entities
Level
Intermediate
Instructional Method
Self-Study
NASBA Field of Study
Accounting (Governmental) (2 hours)
Program Prerequisites
An understanding of the GAO Greenbook requirements
Advance Preparation
None
