Our in-depth sessions at this year’s AICPA Governmental Accounting and Auditing Update will target questions and issues specific to your area of expertise, whether at the federal, state or local level.
Attend in Washington or via webcast for updates direct from key government officials and policymakers.
Uniform Guidance is still top of mind for many of us, but there’s a new dimension to the standards. As we shift into year two of Uniform Guidance, questions of application — in addition to implementation — are taking priority.
This August, GAAC will address both elements through in-depth technical guidance and strategy updates. Extensive on-site networking opportunities and engagement forums for online attendees, also will connect you with peers, for a consensus-building approach to solving challenges.
This includes sessions from the conference: Governmental Accounting and Auditing Update Conference 2017
AICPA Professional Update (Aug 07, 2017 09:45 AM)
OIG/CIGIE Hot Topics (Aug 07, 2017 10:55 AM)
Applying GASB 72 - Fair Value Measurement (Aug 07, 2017 10:55 AM)
Data Analytics: Emergence in and Implications to Government Accountability (Aug 07, 2017 01:15 PM)
Uniform Guidance: Auditor Lessons Learned (Aug 07, 2017 01:15 PM)
Understanding Unconscious Bias (Aug 07, 2017 02:50 PM)
Common Deficiencies in Auditing Estimates (Aug 07, 2017 02:50 PM)
OPEB Part I: Accounting (Aug 07, 2017 02:50 PM)
System Evolution and its Impact on Financial Management High Risk (Aug 07, 2017 04:15 PM)
Common Financial Reporting Deficiencies (Aug 07, 2017 04:15 PM)
OPEB Part II: Auditing OPEB Plans Under GASB 74 (Aug 07, 2017 04:15 PM)
Using the Federal Audit Clearinghouse to Monitor and Improve Audit Quality (Aug 08, 2017 07:00 AM)
Order From Chaos: Virtual Auditing with Big Data (Aug 08, 2017 07:00 AM)
Morning Announcements & Auditing Standards Update (Aug 08, 2017 08:00 AM)
Cybersecurity Panel (Aug 08, 2017 09:35 AM)
DATA Act: First -Year Reporting (Aug 08, 2017 10:45 AM)
Uniform Guidance: Auditor Lessons Learned (Aug 08, 2017 10:45 AM)
OPEB Part I: Accounting (Aug 08, 2017 10:45 AM)
OPEB Part II: Auditing OPEB Plans Under GASB 74 (Aug 08, 2017 01:00 PM)
Entity Level Controls Assessment by Management (Aug 08, 2017 02:35 PM)
Top 10 Issues Auditors Should Focus On - GASB (Aug 08, 2017 02:35 PM)
Steal Like a Boss (Aug 08, 2017 02:35 PM)
Sampling Techniques (Aug 08, 2017 04:00 PM)
De minimis vs. NICRA: Creating an Indirect Cost that Works for You (Aug 08, 2017 04:00 PM)
How to Prepare for 'Horizon' Topics from the GASB (Aug 08, 2017 04:00 PM)
Kimberly Ellison-Taylor will provide an overview of the key forces driving change for the CPA profession today and in the future. She will discuss key AICPA initiatives focused on supporting members in an ever-changing profession.Speaker(s):
The Digital Accountability and Transparency Act of 2014 (DATA Act) requires Federal agencies to submit spending data in accordance with newly established data standards for publication on USASpending.gov by May 2017. The DATA Act includes, in part, specific oversight expectations of inspectors general (IG) and the Government Accountability Office (GAO). Andrea D. Smith, Audit Director for Fiscal Service Audits at the Department of the Treasury, Office of Inspector General, leads the Federal Audit Executive Council’s DATA Act Working Group in educating the IG and government financial communities on the DATA Act oversight process. Ms. Smith led the efforts to develop the common methodology for IG audits mandated by the DATA Act. Ms. Smith, along with the Working Group, through its Common Methodology and Technical Approach Sub-groups, engaged Treasury, OMB, GAO, and technical experts across the IG community to solicit input. This common methodology is a tool IGs should use to evaluate and assess the completeness, timeliness, quality, and accuracy of the data submitted and their agency’s implementation and use of the data standards as required by the DATA Act. This session will include an overview of the DATA Act, Government-wide implementation efforts, how the IG community plans to meet its oversight responsibilities, and review the DATA Act common methodology guide.
In March 2015, the Governmental Accounting Standards Board (GASB) issued Statement No. 72, Fair Value Measurement and Application. This standard will require local governments to consistently apply fair value techniques and disclosures to their investments. This course will cover the basics of the standard including definitions, valuation techniques, the fair value hierarchy as well as disclosures. Then we will discuss the best practices in applying and implementing the standard. We'll close with a discussion of what auditing steps will be to insure proper measurement and disclosure.Speaker(s):
Good financial management in the public sector is predicated upon sufficient, reliable, and meaningful data. Data analytics is becoming a powerful tool for decision makers as they engage in activities related to risk management, performance management and ensuring payment integrity to prevent fraud and improper payments. Hear firsthand how government officials are using data analytics within their respective organizations and through public-private partnerships to make government more accountable.
Auditors made it through the first year of performing single audits under the Uniform Guidance and are now heading into Year 2. This session will look at how things went including: Challenging areas and what to watch out for; Frequently asked questions; Feedback from peer review oversight reviews of single audits; and Auditor resources.
Many industry professions value and leverage pattern recognition and informed judgment based on limited information. While this is a huge strength for many leaders, managers and employees, it could also lead to unconscious biases in our decision making when it comes to day to day issues like hiring, mentoring, promoting, staffing, developing people, and engaging with clients. Through an engaging mix of insights, exercises, illustrations, activities, polls, and videos, this session will enable participants to understand, identify, and manage their unconscious biases. Session participants leave with specific strategies and tactics that they can deploy in their day to day work to maximize intuitive strengths and minimize unintended fallout.
The AICPA has identified auditing estimates as a consistent deficiency in the past few years. This course will look at a variety of estimates ranging from fair value as well as the new leases standard and help practitioners identify the appropriate risk and select procedures to mitigate them. We'll incorporate best practices in using a specialist to assist auditor's with obtaining sufficient appropriate evidence.
Part 1 focuses on the accounting aspects of GASB 75, Accounting and Financial Reporting for Post- Employment Benefits Other Than Pensions, with an emphasis on how the OPEB standard differs from pension related requirements including the underlying substance of OPEB transactions and actuarial related considerations. It includes specific examples of journal entries needed to convert governmental budget basis numbers to a GAAP basis in the government-wide and proprietary statements.
Following passage of the CFO Act, policies and standards that govern federal systems were revised to advance quality of federal financial information. Various agency financial systems were upgraded, consolidated or modernized to support program delivery, safeguard assets and manage taxpayer dollars. While progress has been made, further opportunities exist to strengthen the availability of accurate, timely, and relevant financial information to support decision-making. Hear views from DOD and DHS as well as GAO and DOD OIG oversight perspectives on how these agencies have kept up with the need of providing better information, the gaps that impacts their ability to provide good financial and related data and what opportunities exist to close those gaps.
Governmental GAAP is complex, changing quickly and not always intuitive. This session will focus on common financial reporting deficiencies found in recent Comprehensive Annual Financial Reports.
Objectives for the session include: