About Me
CPA Canada
1 **Introduction to the CPA Program**
1 Overview of the CPA Program
2 Structure and Components of the CPA Program
3 Eligibility Requirements
4 Application Process
5 Program Timeline
2 **Ethics and Professionalism**
1 Introduction to Ethics
2 Professional Standards and Conduct
3 Ethical Decision-Making Framework
4 Case Studies in Ethics
5 Professionalism in Practice
3 **Financial Reporting**
1 Introduction to Financial Reporting
2 Financial Statement Preparation
3 Revenue Recognition
4 Expense Recognition
5 Financial Instruments
6 Leases
7 Income Taxes
8 Employee Benefits
9 Share-Based Payments
10 Consolidation and Equity Method
11 Foreign Currency Transactions
12 Disclosure Requirements
4 **Assurance**
1 Introduction to Assurance
2 Audit Planning and Risk Assessment
3 Internal Control Evaluation
4 Audit Evidence and Procedures
5 Audit Sampling
6 Audit Reporting
7 Non-Audit Services
8 Professional Skepticism
9 Fraud and Error Detection
10 Specialized Audit Areas
5 **Taxation**
1 Introduction to Taxation
2 Income Tax Principles
3 Corporate Taxation
4 Personal Taxation
5 International Taxation
6 Tax Planning and Compliance
7 Taxation of Trusts and Estates
8 Taxation of Partnerships
9 Taxation of Not-for-Profit Organizations
10 Taxation of Real Estate
6 **Strategy and Governance**
1 Introduction to Strategy and Governance
2 Corporate Governance Framework
3 Risk Management
4 Strategic Planning
5 Performance Measurement
6 Corporate Social Responsibility
7 Stakeholder Engagement
8 Governance in Not-for-Profit Organizations
9 Governance in Public Sector Organizations
7 **Management Accounting**
1 Introduction to Management Accounting
2 Cost Management Systems
3 Budgeting and Forecasting
4 Performance Management
5 Decision Analysis
6 Capital Investment Decisions
7 Transfer Pricing
8 Management Accounting in a Global Context
9 Management Accounting in the Public Sector
8 **Finance**
1 Introduction to Finance
2 Financial Statement Analysis
3 Working Capital Management
4 Capital Structure and Cost of Capital
5 Valuation Techniques
6 Mergers and Acquisitions
7 International Finance
8 Risk Management in Finance
9 Corporate Restructuring
9 **Advanced Topics in Financial Reporting**
1 Introduction to Advanced Financial Reporting
2 Complex Financial Instruments
3 Financial Reporting in Specialized Industries
4 Financial Reporting for Not-for-Profit Organizations
5 Financial Reporting for Public Sector Organizations
6 Financial Reporting in a Global Context
7 Financial Reporting Disclosures
8 Emerging Issues in Financial Reporting
10 **Advanced Topics in Assurance**
1 Introduction to Advanced Assurance
2 Assurance in Specialized Industries
3 Assurance in the Public Sector
4 Assurance in the Not-for-Profit Sector
5 Assurance of Non-Financial Information
6 Assurance in a Global Context
7 Emerging Issues in Assurance
11 **Advanced Topics in Taxation**
1 Introduction to Advanced Taxation
2 Advanced Corporate Taxation
3 Advanced Personal Taxation
4 Advanced International Taxation
5 Taxation of Complex Structures
6 Taxation in Specialized Industries
7 Taxation in the Public Sector
8 Emerging Issues in Taxation
12 **Capstone Project**
1 Introduction to the Capstone Project
2 Project Planning and Execution
3 Case Study Analysis
4 Integration of Knowledge Areas
5 Presentation and Defense of Findings
6 Ethical Considerations in the Capstone Project
7 Professionalism in the Capstone Project
13 **Examination Preparation**
1 Introduction to Examination Preparation
2 Study Techniques and Strategies
3 Time Management for Exams
4 Practice Questions and Mock Exams
5 Review of Key Concepts
6 Stress Management and Exam Day Tips
7 Post-Exam Review and Feedback
4 Assurance in the Not-for-Profit Sector Explained

Assurance in the Not-for-Profit Sector Explained

1. Financial Statement Audits

Financial Statement Audits involve an independent examination of a not-for-profit organization's financial statements to express an opinion on whether they present fairly, in all material respects, the financial position, results of operations, and cash flows in accordance with generally accepted accounting principles (GAAP).

Example: A charity organization undergoes a financial statement audit by an external auditor. The auditor reviews the organization's financial records, verifies transactions, and ensures that the financial statements comply with GAAP. The auditor then issues an audit report expressing an opinion on the fairness of the financial statements.

2. Agreed-Upon Procedures Engagements

Agreed-Upon Procedures Engagements are engagements where the auditor performs specific procedures on financial information as agreed upon by the auditor and the organization. The auditor then reports the findings of these procedures without expressing an opinion on the financial statements as a whole.

Example: A not-for-profit organization requests an agreed-upon procedures engagement to verify the accuracy of its donor database. The auditor performs procedures such as reconciling donor records with bank statements and verifying the accuracy of donation amounts. The auditor then provides a report detailing the findings of these procedures.

3. Internal Control Assessments

Internal Control Assessments involve evaluating the effectiveness of a not-for-profit organization's internal controls over financial reporting. This includes assessing the design and implementation of controls to ensure that financial information is accurate and reliable.

Example: A not-for-profit organization conducts an internal control assessment to evaluate its controls over cash disbursements. The assessment includes reviewing the segregation of duties, authorization procedures, and reconciliation processes. The findings are then reported to the organization's management to identify areas for improvement.

4. Compliance Audits

Compliance Audits involve examining a not-for-profit organization's compliance with applicable laws, regulations, and contractual obligations. This includes verifying that the organization adheres to funding requirements, tax regulations, and other legal obligations.

Example: A not-for-profit organization that receives government grants undergoes a compliance audit to ensure it meets the conditions of the grant agreement. The auditor reviews the organization's records to verify that funds are used for authorized purposes and that the organization complies with all reporting requirements. The auditor then issues a report detailing the findings and any areas of non-compliance.

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