Title: Auditing a Not-for-Profit Entity - A Case Study
Author(s) : Edward Bysiek, Dane Stropko, Maciej Danilewski ,Christopher Coates, Christopher Coates
This case study provides students in an Auditing or Advanced Accounting course an opportunity to complete a simulated audit in accordance with Generally Accepted Auditing Standards (GAAS) for a non-governmental not-for-profit entity. The entity under audit is fictional, but students will be expected to document their audit procedures similar to an actual engagement. The case study can be assigned individually or to groups. The goal of this case study is threefold: 1) Provide students with a simulated real-world experience in which they complete a set of audit workpapers. 2) Supplement existing curricula with a focus on accounting and auditing principles unique not-for-profit entities. 3) Build confidence among students in applying audit and accounting knowledge.