December 4, 2019
11:00 am - 12:00 pm

The Nonprofit Board Member’s Essential Guide to Financial Statement Analysis and the Audit

Slide Deck


As members of a nonprofit board of directors, you and your board colleagues are charged with considering a variety of matters as part of your fiduciary duty to safeguard the organization. Even if you are not part of a designated audit or finance committee, as a member of the board of directors, you should have an understanding of the fundamentals of your organization’s financial statements and the financial statement audit process. Board members possessing such an understanding have a greater ability to help the organization reach its goals, advance its mission and make strategic decisions about its future.

Join our experts at GRF CPAs & Advisors who will guide you through the intricate matrix of understanding and analyzing the key components of nonprofit financial statements, the role and restrictions of the auditor, and the overall financial statement audit process. In addition to being key members of our nonprofit audit practice, both our presenters are current members of the Board of Directors of nonprofit organizations and can therefore provide a unique and incisive perspective of the issues involved.

Key Takeaways

  • How to select the right auditor for your organization
  • A thorough understanding of the financial statement audit process
  • The roles and responsibilities of the Board, management and the auditor during the audit
  • How to read and interpret the fundamental performance indicators in your audited financials
  • How to develop an action plan when there are audit findings


Walt Derengowski, CPA, CFE | Partner, Audit

Omid Mohebbi, CPA | Supervisor, Audit

Additional Program Details

  • Learning Objective: To provide attendees with a better understanding of how to read and interpret nonprofit financial statements as well as the audit process.
  • Instructional Delivery Methods: Group Internet-based
  • Recommended CPE: 1.0 CPE
  • Recommended Fields of Study: Audit
  • Prerequisites: None Required
  • Advance Preparation: None
  • Program Level: Basic
  • Course Registration Requirements: None
  • Refund Policy: No fee is required to participate in this session.
  • Cancellation Policy: In the event that the presentation is cancelled or rescheduled, participants will be contacted immediately with details.
  • Complaint Resolution Policy: GRF CPAs & Advisors is committed to our participants’ 100% satisfaction and will make every reasonable effort to resolve complaints as quickly as possible. Please contact kdavis@grfcpa.com with any concerns.