Nonprofit Internal Control - Practical Insights into Mitigating Financial Reporting, Compliance and Other Risks

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Instructor

Jennifer
Louis

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Jennifer Louis

Bio

Jennifer F. Louis, CPA

Jennifer F. Louis, CPA has over 14 years of experience in designing and presenting high-quality training programs in a wide variety of technical and "soft skills" topics needed for professional and organizational success. In 2003, she co-founded Emergent Solutions Group, LLC, a consortium of professionals serving organizations on a project or part-time basis, to create a division dedicated to training services. She was most recently Executive Vice President/Director of Training Services at AuditWatch, Inc., a highly respected training and consulting firm serving the audit profession. During her six years at AuditWatch, Ms. Louis served in many other capacities, including Vice President of Product, and instructor and consultant for the firm's Audit Productivity Improvement ProgramTM and various other training courses. She also co-authored a manual on value-added auditing.

Before joining AuditWatch, Ms. Louis was the financial/operational audit manager at AARP. While at AARP, she served as one of their specially trained facilitators available as a resource throughout the organization for designing and leading strategic meetings and training sessions. Ms. Louis was also an audit manager for Deloitte and Touche, LLP. During her years in that firm's Washington, D.C. office, she served as an instructor for the firm's national "Train the Trainers" program.

Ms. Louis graduated summa cum laude from Marymount University with a BBA in accounting. She is also a member of several prestigious professional associations.

There is simply no denying that a sufficiently designed and effectively operating system of internal controls over reliable financial reporting is more important than ever. The primary objective of this course is to give participants "hands-on" practice in designing, evaluating, and communicating conclusions related to design and operating effectiveness of internal controls over reliable financial reporting and other risks for nonprofit environments.

Learning Objectives

Describe critical concepts promulgated by COSO’s internal control and enterprise-wide risk management
Explain best practices for designing, implementing and monitoring internal controls over reliable financial reporting
Apply exercises and case studies to reinforce fundamental theory through "real-life" scenarios that both internal and external accounting personnel performing internal control-related activities in the nonprofit industry

Major Topics

Recognizing the importance of each of the key components of a sound system of internal controls over financial reporting, regardless of a nonprofit entity's nature, size or complexity
Understanding the critical role of information technology (IT) general and application controls to reliable financial reporting, even in less-complex IT environments
Exercise in documenting an understanding of the design of internal controls for common classes of transactions for nonprofit entities
Identifying and evaluating the sufficiency of key controls to satisfy control objectives
Understanding the importance of verifying whether an understanding of the design of internal controls has actually been "implemented", and how to exactly go about doing that

CPE Credits Available

4 CPE

4: Auditing

Things to Know About This Course

Course Level

Basic

Professional Area of Focus

Auditing

Advanced Preparation

None

Intended Audience

Professionals responsible for evaluating the design and implementation of internal control

Provider

ACPEN

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