2026/27 Annual Update for Governments and Not-for-Profits (4 hours)

Overview

This comprehensive annual update brings together key accounting and auditing developments affecting accountants and auditors across industries. The course combines recent standard-setting activity issued by the Financial Accounting Standards Board with major audit and attestation updates from the AICPA, providing a well-rounded view of changes impacting financial reporting and engagement performance.

Participants will begin with an overview of recently issued and upcoming Accounting Standards Updates (ASUs), including standards effective for December 31, 2026 year-ends for public companies, private entities, and not-for-profit organizations. The course also highlights issued ASUs with future effective dates and provides high-level insight into recent exposure drafts to support implementation planning.

The course then shifts to auditing and attestation developments, including the next phase of quality management with a focus on monitoring and remediation requirements. Participants will also review recent and proposed standards affecting audit, attestation, and consulting engagements, including SSAE No. 24, SSARS No. 26, exposure drafts related to confirmations and fraud, and SAS No. 149 addressing group audits.

Designed for preparers, auditors, and firm professionals, this course helps participants understand how recent accounting and auditing changes intersect-and what to watch for as standards and expectations continue to evolve.

This event may be a rebroadcast of a live event and the instructor will be available to answer your questions during the event.

YELLOW BOOK: Qualifies for Yellow Book CPE based on your unique audited entity.

Highlights

The major topics that will be covered in this course include:

• Key accounting and auditing developments affecting governmental and not-for-profit organizations. 
• Accounting Standards Updates issued by the Financial Accounting Standards Board.
• The purpose of INPAS and how it compares conceptually to U.S. GAAP for not-for-profit entities.
• Recent developments affecting Single Audits, including the 2024 Uniform Guidance overhaul, updates to Appendix B of the AICPA GAS/Single Audit Guide, and recent guidance issued through the Office of Management and Budget (OMB). 

Prerequisites

The major topics that will be covered in this course include:

• Key accounting and auditing developments affecting governmental and not-for-profit organizations. 
• Accounting Standards Updates issued by the Financial Accounting Standards Board.
• The purpose of INPAS and how it compares conceptually to U.S. GAAP for not-for-profit entities.
• Recent developments affecting Single Audits, including the 2024 Uniform Guidance overhaul, updates to Appendix B of the AICPA GAS/Single Audit Guide, and recent guidance issued through the Office of Management and Budget (OMB). 

Designed For

Accountants and Auditors

Objectives

After attending this presentation, you will be able to...

• Recognize the impact of recent accounting standards affecting not-for-profit organizations.
• Identify key elements and objectives of the International Non-Profit Accounting Standard (INPAS).
• Recall the impact of recent GASB pronouncements on governmental financial reporting.
• Identify new and updated disclosure and reporting requirements affecting governmental entities.
• Recognize changes affecting Single Audits resulting from the 2024 Uniform Guidance and related guidance.
• Recall key developments from recent exposure drafts, implementation guidance, and regulatory updates affecting governments and not-for-profits.

Notice

“Adding to Calendar” does not register you for this event. Please either register online by clicking “Add to Cart” or contacting OSCPA at 503-641-7200 / 800-255-1470, ext. 3. Thank you!