W470: Common Audit Findings, the Internal Control Issues Behind Them, and How to Respond
COURSE DESCRIPTION:
Nobody likes receiving findings during their audit, and *most* auditors don’t take pleasure in delivering them. In this session we’ll discuss audit findings such as absent documentation, errors in the financial closing process, and common accounting errors within nonprofit organizations. We’ll also explore the internal control issues that lie beneath the surface and give rise to audit findings. Finally, we’ll plot a course for responding to and reducing recurrences of findings during your audit. Nobody can guarantee a “clean audit”, but we’ll work together in this session to build a framework for continuous improvement and oversight that will strengthen your organization’s internal controls.
LEARNING OBJECTIVES:
- – Learn about common audit findings for nonprofit organizations.
- – Learn what an auditor looks for when assessing internal controls.
- – Learn how to use a response to audit findings as a springboard for implementing improvements.
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As a CAE Approved Provider educational program related to the CAE exam content outline, this program may be applied for CAE credits toward your CAE application or renewal of professional development requirements.
U.S Transactions Corp. is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.NASBARegistry.org.
In accordance with the standards of the National Registry of CPE Sponsors, CPE credits have been granted based on a 50-minute hour.
(National Registry Sponsor Nr: 138278)
