Northern Chapter of the Virginia Society of Certified Public Accountants

Event Registration - Northern Chapter VSCPA
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Introduction to Understanding Nonprofit Organizations: An Auditor’s Perspective
9/22/2026
11:00 AM - 12:00 PM EST

Location: Virtual Group Session

Auditing a nonprofit organization requires more than applying standard audit procedures to a different type of entity. Nonprofit organizations operate within a distinctive environment shaped by mission, donor expectations, governing boards, funding restrictions, tax-exempt status, grant requirements, regulatory oversight, and financial reporting requirements that differ significantly from those encountered in commercial enterprises.

For auditors entering the nonprofit sector, understanding this environment is fundamental to performing an effective risk assessment and designing appropriate audit procedures.

This course introduces auditors to the nonprofit operating environment and connects the unique characteristics of nonprofit organizations directly to financial reporting, internal control, audit risk, and audit execution.

Rather than focusing solely on accounting rules, the course helps auditors understand how nonprofits work, where their risks arise, and why those risks matter to the audit.

 

Intended Audience:
Audit professionals who are new to nonprofit organizations or who have limited experience auditing nonprofit entities, including associates, senior associates, managers transitioning into nonprofit engagements, and professionals seeking a foundational understanding of the nonprofit environment.

 

LEARNING OBJECTIVES

Upon completion of this course, participants will be able to:

  1. Identify the organizational, governance, funding, regulatory, and financial reporting characteristics that distinguish nonprofit organizations from commercial enterprises.
     
  2. Recognize significant nonprofit accounting and financial reporting concepts, including net asset classifications, contributions, donor restrictions, conditional contributions, functional expenses, liquidity disclosures, and other areas commonly encountered during a nonprofit audit.
     
  3. Assess how the nonprofit operating environment, governance structure, revenue sources, donor restrictions, grant requirements, and internal control environment influence audit risk and the design of audit procedures.

Presented by Lee Klumpp, CPA, CGMA
National Professional Practice Principal, Nonprofit, Healthcare and Government
BDO

1.0 CPE hour will be awarded for participation.
Members are free and guest are $25.




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