Not-for-Profit Assurance Resources
This page provides information and resources for financial statement audits of not-for-profit entities (NFPs).
Auditors wishing to access information about Yellow Book engagements and single audits should visit the AICPA Governmental Audit Quality Center.
Looking for something in particular? Try the search filters on the left to narrow your search. The types of resources you will find under "by document type" include sample client letters, practice guides, background papers, and more.
The following resources are created and intended as an individual benefit of AICPA Not-for-Profit Section membership. The materials are copyrighted and may not be used without permission this includes any further distribution of the materials (including posting on a website)..
These resources are designed as educational and reference material; they do not establish standards or preferred practices, and they are subject to change. Where specific permission is granted for use (not distribution or posting), users are responsible for final content; please review those resources carefully and make any changes necessary for your specific use.
Auditors are required to communicate certain matters to those charged with governance of the NFP. In cases where a communication is required, an auditor should refer to the AICPA Professional Standards and the related application and explanatory material included within the authoritative standards. The following documents are resources to assist with communicating essential information to your NFP audit clients.
Checklist of Required Communications(Word)
Download this reference checklist to see a listing of required communications to management and those charged with governance. It includes references to the applicable auditing standards.
Identifying, Evaluating and Communicating Deficiencies in Internal Control (PDF)
This comprehensive practice aid provides examples of internal control deficiencies, risk factors that may indicate that deficiencies exist, and sample client communications for auditors of not-for-profits.
Sample Engagement Letter (Word)
Sample Internal Control Communications:
Material Weaknesses Identified (Word)
No Material Weaknesses Identified (Word)
Matters Identified at an Interim Date (Word)
Other Matters - Significant or Material (Word)
Management Letter - Other Deficiencies (Word)
Auditing Interpretation on Dual Reporting
The AICPA Auditing Standards Board (ASB) issued an interpretation March 2, 2018 to help auditors comply with reporting requirements under both AU-C section 700 and PCAOB Auditing Standard No. 3101. Read this Journal of Accountancy article for a brief summary of Auditing Interpretation No. 4, Reporting on Audits Conducted in Accordance With Auditing Standards Generally Accepted in the United States of America and the Standards of the PCAOB.
The following documents are resources to assist with audit reports.
Opinion Letter Templates
Standard Letter (Word)
Change in Accounting Principle (Word)
Comparative Statements (Word)
Comparative Statements Including Statements of Functional Expenses (Word)
Summarized Prior Year (Word)
Emphasis of a Matter: Going Concern (Word)
NFPs have unique reporting requirements under GAAP. The following account workpapers are provided as examples of accounts that require special consideration.
Promises to Give (Xls)
Property and Equipment (Xls)
Investment Balances and Account Reconciliations (Xls)
Investment Rollforward (Xls)
Alternative Investments (Xls)
Long-term Debt Rollforward (Xls)
Analysis of Debt (Xls)
Net Assets - Netting Restricted Contributions Received in Same Year (Xls)
Net Assets - No Netting of Temporarily Restricted Contributions (Xls)
Net Assets - Additions and Releases of Restrictions (Xls)
Risk Management for NFPs
The following resources were developed to assist auditors of NFPs with client education regarding risk management, design and implementation of internal controls.
Opportunities for Fraud in Not-for-Profit Entities: Contributions vs Exchange Transactions (Article)
Addressing the Risk of Cyberattacks in Not-for-Profits (Article)
An Ounce of Prevention: Combating Fraud in Not-for-Profits (Article)
Audit Committee Toolkit (PDF)
Increasing Risk Awareness in Not-for-Profits (PDF)
IT Controls for Not-for-Profit Entities (PDF)
Segregation of Duties Reference Charts for Small Not-for-Profits:
Organizations with 4+ employees (PDF)
Organizations with 3 employees (PDF)
Organizations with 2 employees (PDF)
Do you or your firm provide assurance services for not-for-profit clients? Get the targeted learning you need to perform highly effective audit engagements. The AICPA offers CPE-eligible courses developed by leading experts in coordination with the NFP Section's technical staff. Section members receive an exclusive 20% discount on continuing education and other not-for-profit products offered by AICPA. Learn more about the exclusive discounts available for our member community.
The AICPA's Accounting and Auditing Technical Hotline provides members with free, high-quality technical assistance by phone concerning issues related to accounting and financial reporting, auditing and attestation, compilation, and review standards.
The Section does not provide Yellow Book or Single Audit information or resources. The AICPA Government Audit Quality Center provides resources for those audit engagements.