Governmental Accounting and Auditing Update Conference 2018

Aug 13, 2018 ‐ Aug 15, 2018


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.

This August, GAAC will provide 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.

Packages Display Packages

This includes sessions from the conference: Governmental Accounting and Auditing Update Conference 2018

Sessions Included:

Welcome & Introduction & AICPA Professional Update (Aug 13, 2018 08:00 AM)

From Brewer to State CEO (Aug 13, 2018 09:55 AM)

Update of the GAO/CIGIE Financial Audit Manual (FAM) (Aug 13, 2018 11:05 AM)

Internal Controls in a Single Audit- What Could Go Wrong (Aug 13, 2018 11:05 AM)

Single Audit Update (Repeated in GAE1828) (Aug 13, 2018 11:05 AM)

Federal Audit Executive Council (FAEC) IT Committee’s FISMA Update (Aug 13, 2018 01:20 PM)

Lightening Round of Recently Issued GASB Guidance (Repeated in GAE1821) (Aug 13, 2018 01:20 PM)

OPEB - The Time is Now! (Repeated in GAE1815) (Aug 13, 2018 01:20 PM)

New Yellow Book (Aug 13, 2018 02:55 PM)

Common Reporting Problems (Aug 13, 2018 02:55 PM)

OMB Update on Improper Payment Reporting and Enterprise Risk Management - Where Are We Now? (Aug 13, 2018 04:20 PM)

Do I Really Need to Put That in Writing? (Aug 13, 2018 04:20 PM)

OPEB - The Time is Now! (Repeat of GAE1809) (Aug 13, 2018 04:20 PM)

Why Performance Audits? (Aug 14, 2018 07:00 AM)

Ethics - A New Standard (Aug 14, 2018 07:00 AM)

Morning Announcements & Introduction & Cybersecurity: Governance, Threats and Risk Management (Aug 14, 2018 08:00 AM)

Auditing Standards Update (Aug 14, 2018 09:35 AM)

Intersection of Data Analytics with Green Book & ERM Guidance (FRDA) (Aug 14, 2018 10:45 AM)

Lightening Round of Recently Issued GASB Guidance (Repeat of GAE1808) (Aug 14, 2018 10:45 AM)

FASAB Panel (Aug 14, 2018 01:00 PM)

Data Analytics (Aug 14, 2018 01:00 PM)

Tax Impact on Government (Aug 14, 2018 01:00 PM)

Data and IT Assurance (Aug 14, 2018 02:35 PM)

Single Audit Update (Repeat of GAE1806) (Aug 14, 2018 02:35 PM)

Common Misconceptions in Deficiencies with Single Audits (EAQ session) (Aug 14, 2018 04:00 PM)

The Social Trifecta: Owned, Earned and Paid (Aug 14, 2018 07:00 AM)

Standard: $379.00

Sessions

Welcome & Introduction & AICPA Professional Update

Aug 13, 2018 8:00am ‐ Aug 13, 2018 8:55am

Identification: GAE1801

Eric Hansen will provide an overview of the key forces driving change for the CPA profession today and in the future. He will discuss key AICPA initiatives focused on supporting members in an ever-changing profession.

Speaker(s):
Tags: General
Standard: $49.00

From Brewer to State CEOFrom Brewer to State CEO

Preview Available

From Brewer to State CEO

Aug 13, 2018 9:55am ‐ Aug 13, 2018 10:45am

Identification: GAE1803

Denver and Colorado have been fortunate to see an incredible economic boom over the past twenty plus years, even growing through the recession. Much of this started with the development of the blighted lower downtown Denver area (LoDo). Governor John Hickenlooper was on the front end of this effort when he started the Wynkoop Brewing Company in 1988. Through various public private partnerships, including bringing major league baseball to town and the development of a major league stadium, the boom began with the reinvigoration of LoDo. From there Mr. Hickenlooper became the Mayor of the City and County of Denver, and then the governor of the State of Colorado. Mr. Hickenlooper will discuss his successes using economic development tactics and public private partnerships.

Speaker(s):
Tags: General
Standard: $49.00

Update of the GAO/CIGIE Financial Audit Manual (FAM)

Aug 13, 2018 11:05am ‐ Aug 13, 2018 12:20pm

Identification: GAE1804

The Government Accountability Office (GAO) and the Council of Inspectors General on Integrity and Efficiency (CIGIE) maintain the Financial Audit Manual (FAM), which presents a methodology to perform financial statement audits of federal entities in accordance with professional standards. 

The FAM, last updated in 2008, incorporates:

• the AICPA’s Clarified Auditing Standards
• GAO’s 2011 Yellow Book, and
• OMB’s latest federal financial statement audit guidance.

Learning Objectives:

• Identify the current updates to the FAM’s three volumes: (1) Audit Methodology, (2) Audit Tools, and (3) Checklists.
• Recognize the process by which the FAM was updated.
• Recall the standards and guidance changes that impacted the update to the FAM.
• Indicate the key changes to the FAM.

Speaker(s):
Tags: Federal
Standard: $49.00

Internal Controls in a Single Audit- What Could Go Wrong

Aug 13, 2018 11:05am ‐ Aug 13, 2018 12:20pm

Identification: GAE1805

Identifying and testing internal controls is one of the more challenging areas of auditing major programs. This session will focus on common areas of challenge and provide guidance on enhancing audit strategies.

Learning Objectives:

-Identify common areas of challenge when testing internal control over major programs.
-Choose control objectives over compliance with identifying associated operating controls.

Speaker(s):
Standard: $49.00

Single Audit Update (Repeated in GAE1828)

Aug 13, 2018 11:05am ‐ Aug 13, 2018 12:20pm

Identification: GAE1806

This session will cover single audit developments that occurred over the last year and also, look at the future of single audits. Auditors from firms and state audit organizations will be represented. 

Learning Objectives:

-Evaluate what is in the 2018 “skinny” Compliance Supplement and how to use it.
-Interpret the latest quality issues noted in single audit quality reviews.
-Examine best practices when dealing with a client’s Corrective Action Plan.
-Predict future single audit developments such as a new Data Collection Form, future quality studies, and the recent federal grants-oriented cross-agency priority goals.

Speaker(s):
  • Mary M. Foelster, CPA, CGMA, Senior Director, Governmental Auditing and Accounting, AICPA
  • Erica Forhan, CPA, CGMA, Partner, Moss Adams LLP
  • George D. Strudgeon, CPA, CGFM, CGMA, MBA, Audit Director, Virginia Auditor of Public Accounts
Standard: $49.00

Federal Audit Executive Council (FAEC) IT Committee’s FISMA Update

Aug 13, 2018 1:20pm ‐ Aug 13, 2018 2:35pm

Identification: GAE1807

Will provide an overview of the evolution of the Inspector General Federal Information Security Modernization Act of 2014 (FISMA) reporting metrics. Topics include the move from compliance to effectiveness, use of a maturity model to evaluate the effectiveness of Federal information security programs, and alignment with the NIST Cybersecurity Framework and other best practice frameworks.

Learning Objectives:

  • Determine how maturity model based reviews enable auditors to conclude on effectiveness of information security programs.
  • Compare the areas covered in Inspector General FISMA reviews and how these areas relate to the NIST Cybersecurity Framework and other best practice frameworks.

Speaker(s):
Tags: Federal
Standard: $49.00

Lightening Round of Recently Issued GASB Guidance (Repeated in GAE1821)

Aug 13, 2018 1:20pm ‐ Aug 13, 2018 2:35pm

Identification: GAE1808

This course will provide an executive overview of a variety of GASB Statements that have been issued. We'll cover the topics not addressed elsewhere in standalone sessions including tax abatements, split interest agreements, asset retirement obligations, the omnibus statement, debt extinguishment and debt disclosures. We'll also look at implementation issues that have been experienced that practitioners need to be aware of. This interactive session will include polling. We'll close the session with some thoughts on what to expect from the financial reporting model as well as revenue recognition projects.

After this session attendees will be able to:

-List recently issued GASB Statements.
-Describe the impact of recently issued GASB statements on the financial statements of governmental entities.

Speaker(s):
Standard: $49.00

OPEB - The Time is Now! (Repeated in GAE1815)

Aug 13, 2018 1:20pm ‐ Aug 13, 2018 2:35pm

Identification: GAE1809

GASB Statement No. 75 is effective for fiscal years beginning after June 15, 2017. This session will provide a discussion of implementation issues surrounding the accounting and auditing for other postemployment benefits (OPEB) that you need to be aware of in this year of implementation. 

We will discuss:

1. How the accounting for OPEB differs from pensions
2. The appropriate treatment for OPEB when it is administered through a trust, versus when it is not administered through a trust
3. The role of the actuary and related audit issues
4. Auditing considerations from the employer auditor's perspective

After this session attendees will be able to:

-Identify appropriate accounting treatment for OPEB. 
-Analyze the audit implications of OPEB and how it differs from pensions.

Speaker(s):
Standard: $49.00

New Yellow BookNew Yellow Book

Preview Available

New Yellow Book

Aug 13, 2018 2:55pm ‐ Aug 13, 2018 4:10pm

Identification: GAE1811

This session will provide a detail of the significant changes in the revised Yellow Book. Changes in independence, performance audits, peer reviews and financial audits completed under Generally Accepted Government Auditing Standards will be discussed. 

After this session attendees will be able to:

1. Identify significant changes in Generally Accepted Government Auditing Standards (GAGAS)
2. Select an approach to address new GAGAS independence requirements on GAGAS audits
3. Determine how performance audits have changed to incorporate internal control procedures

Speaker(s):
Standard: $49.00

Common Reporting ProblemsCommon Reporting Problems

Preview Available

Common Reporting Problems

Aug 13, 2018 2:55pm ‐ Aug 13, 2018 4:10pm

Identification: GAE1812

In this session GFOA's Technical Services Center Director will discuss reporting deficiencies that are commonly seen in CAFRs submitted to GFOA's Certificate of Achievement for Excellence in Financial Reporting Program and make suggestions of how they may be identified and avoided by financial statement preparers and their auditors. 

After this session attendees will be able to:

1. Identify common reporting deficiencies.
2. Identify the underlying technical issues that give rise to deficiencies.

Speaker(s):
  • Frank W. Crawford, CPA, President, Crawford & Associates, P.C.
  • Michele Levine, CPA, CGMA, Director, Technical Services Center, Government Finance Officers Association
Standard: $49.00
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