First time reporting on NFPOs adopting accounting standards

Have you been engaged to report on a not-for-profit organization (NFPO)’s first set of financial statements prepared in accordance with Canadian accounting standards? Our informative guide shows you the ropes with two audit approaches and helpful real examples.

Get your downloadable electronic copy.

Download Now

There are major areas management needs to address when adopting a new financial reporting framework, whether they are adopting:

  • Canadian accounting standards for NFPOs (ASNFPO)
  • Canadian public sector accounting standards (standards for government not-for-profit organizations) (PSAS-GNFPO).

First-time Reporting on Financial Statements Adopting Canadian Accounting Standards for Not-for-Profit Organizations provides the guidance you—as an auditor of an NFPO or public sector NFPO—and your client will need to make a smooth transition.

Helpful appendices with examples and excerpts from actual engagement letters, representation letters, and unmodified and qualified auditors' reports illustrate best practices.

You will learn:

  • the implications of adopting ASNFPO or PSAS-GNFPO for management and for you as auditor
  • two audit approaches you can use and how each approach impacts:
    • the auditor's opinion
    • audit procedures

Highlights

Update your knowledge and strengthen your network at this must-attend conference covering the most important issues and trends affecting audit committee members.

It’s probable that someone you know is deep in debt. If you are observant, you might see one of these seven signs.