Not-for-profits have their own specific accounting principles, giving rise to different audit issues. Many small to midsize not-for-profits lack sophisticated accounting personnel, causing challenges in the auditor’s understanding of internal controls and assessment of risk. In addition, the integration of a financial statement audit with the requirements of Government Auditing Standards and OMB Circular A-133 adds another layer of complexity. This course also addresses communication of internal control deficiencies under SAS No. 115.