This session will cover the areas in nonprofit and governmental accounting that require significant estimates. During this session, we will cover the preparer and auditing perspective including:

• Discounts on long-term receivables including pledge receivables
• Collectability and allowances on receivables
• Valuation and impairment of investments
• Deferred revenue, liabilities and swaps
• Allocations of expenditures
• Useful lives and impairment of long-lived assets
• Donated goods and services
• Pension obligations
• Asset retirement obligations
• Split-interest agreements

Learning Objectives:

1.  Reconstruct the estimates listed in the session description.
2.  Evaluate the audit and accounting implications of misjudging estimates.
3. Interpret an estimate and correctly audit.

This session will explore the steps necessary to take to determine if an exception is a finding. We will also explore how to properly classify, report, and communicate findings in accordance with the regulatory requirements. 

The session will cover:

• An update on evaluating and reporting audit findings
• How, and if, to modify the audit strategy if a finding is identified
• The required reporting elements of a findings under GAGAS and the Uniform Guidance

Learning Objectives:

• Use provided guidance to evaluate results of internal control over compliance and compliance testing.
• Determine the reporting requirements of a single audit.
• Use provided best practices to evaluate and report findings in a single audit.

This session will focus on the complexities of reporting and auditing under HUD guidelines.

Learning Objectives:

1. Recall HUD reporting requirements. 
2. Identify HUD-specific audit requirements.

This session provides an update of changes in governmental and U.S. auditing standards including the revised Yellow Book. Session will share a comparison of the 2011 Yellow Book and the 2018 Yellow Book. We will also discuss the possible implementation issues, challenges, and easy to-dos when implementing these new standards.

Learning Objectives:

1. Recall the new Yellow Book standards.
2. Identify changes introduced in the 2018 Yellow Book.
3. Recognize effective dates and timing for changes identified.

This session will explore common traps when audit planning that can lead to inefficiency and tips on making sure we don't fall into those traps.

Learning Objectives:

1. Recognize the link between audit planning and audit efficiency 
2. Identify tips for engagement management

The presenters will go through actual Forms 990 as they both describe how they would undertake a review of such Form 990 before it is filed with the IRS.

Learning Objectives:

1. Analyze and review a Form 990 before such is filed with the IRS.
2. Identify the AICPA Tax Checklists which can aid one in their reviewing of a Form 990.

Overview of independence requirements for audit clients including discussion of impact of the newly revised GAO Yellow Book.

Learning Objectives:

1. Recall the independence requirements under AICPA Code of Professional Conduct and GAO Yellow Book.
2. Recognize the conceptual framework to independence by identifying and evaluating threats and applying safeguards when required.
3. Identify impact of the newly revised GAO Yellow Book on independence.
   

This session will explore common traps when audit planning that can lead to inefficiency and tips on making sure we don't fall into those traps.

Learning Objectives:

1. Recognize the link between audit planning and audit efficiency 
2. Identify tips for engagement management

This session builds on where the theory session left off and illustrates how to apply the concepts to real world leases. This is an application focused session to get you ready for implementation.

Learning Objectives:

• Recall accounting treatment under the leases guidance for example lease agreements.
• Identify lessee and lessor transactions.
• Recognize and separate the components of leases.
• Identify potential implementation issues.

Comprehending and auditing indirect cost recoveries can be complex. This session will navigate an understanding of indirect cost recoveries and common challenges faced when auditing indirect cost recoveries as part of a single audit engagement.

Learning objectives:

1. Interpet indirect cost concepts to perform effective single audit engagements.
2. Evaluate approaches to auditing indirect cost recoveries and related challenges.