Institute media
The Department of Accounting Studies at the Post-graduate Institute for Accounting and Financial Studies at the University of Baghdad discussed the research titled(The accounting system for non-profit organizations is in accordance with relevant international standards and its impact on audit procedures -Applied Research) for the student Yousif Najm Abood to obtain chartered accountant certificate, which is the highest professional certificate in the field of specialization, and its holder enjoys all the rights and privileges of a doctorate degree.
The study aimed to develop a proposed mechanism for an accounting system for non-profit organizations in accordance with relevant international standards and apply it to the research sample organization to ensure the consistency of financial statements for the benefit of users. It also aimed to propose audit procedures for these organizations, starting from the planning stage and ending with the development of a proposed audit program and its implementation on the research sample organization. This program helps external auditors ensure that non-profit organizations are properly utilizing their financial resources.
The study concluded that the unified accounting system adopted by non-profit organizations does not meet their requirements and the needs of their users to provide consistent financial statements that can be relied upon in decision-making. Furthermore, there is no specialized audit program for auditing non-profit organizations issued by professional bodies sponsoring the auditing profession or the highest regulatory authorities in Iraq that clarifies the oversight procedures that external auditors must observe during auditing.
