This session will explore real-life case study examples from multiple perspectives of what happens when a fraud is exposed during the conduct of a financial statement audit or other engagement.

Learning Objectives:

1. Recall details of real-life fraud case study examples and subsequent reactions by all parties involved 
2. Identify effective options for what happens after fraud is discovered from multiple perspectives of the auditor, management and other third parties

Learn how to navigate the Federal Audit Clearinghouse website and streamline the audit submission process.

Learning Objectives:

1. Recall instructions on how to ensure a smooth audit submission process.
2. Identify nuances of the Data Collection Form and how to best complete.
3. Recall how to navigate and search the Federal Audit Clearinghouse website
4. Recall potential changes on the horizon.

Very lively and interactive session focused upon the conducting of gaming/gambling activities by nonprofits, including the essentials regarding the protecting of a nonprofits tax-exempt status when undertaking gaming/gambling activities.

Learning Objectives:

1. Recall information on IRS audits focused upon the gaming activities of an exempt organization.
2. Identify how to protect an organization's tax-exempt status if it is conducting gaming activities to raise funds.

This session will help participants understand some unique application issues to consider in applying GASB statements to Tribal governments and their enterprises. Specific items that will be reviewed include investments vs. component unit considerations, leases, fiduciary funds and others. The session will also discuss recent guidance issued on auditor reporting for Tribal businesses and enterprises that issue FASB financial statements.

Learning Objectives:

• Analyze potential application considerations for Tribes in implementing newly issued GASB standards 
• Apply the appropriate financial reporting framework for Tribal businesses and the effect on auditor reporting considerations when Tribes issue FASB financial statements

School districts represent a unique subset of special purpose governments. This session will explore recent developments in the industry, review financial and single audit issues identified in practice, and discuss the application of GASB 84 (Fiduciary Activities) to school districts.

Learning Objectives:

1. Identify the unique aspects of school districts, and the impact that recent changes in accounting and auditing pronouncements will have on them 
2. Apply governmental GAAP, GAGAS, and the Uniform Guidance in the context of the financial and single audits of school districts

While Business Type-Activities (BTAs) follow Generally Accepted Accounting Principles for governments, BTAs are challenged to meet industry specific reporting demands for users and customers. This session will identify issues in reporting as a stand-alone BTA.

Learning Objectives:

1. Identify the types of standalone BTAs.
2. Analyze the challenges in meeting GAAP, industry, and regulatory reporting requirements.

Explore the application of GASB Statement No. 84, Fiduciary Activities, to various scenarios to learn how the upcoming standard will impact fund classification and financial reporting.

Learning Objectives:

• Identify the requirements of the new standard.
• Apply GASB 84 to common categories of activities.
• Analyze how the changes will impact financial reporting and auditing.

Examine the unrelated business income tax, particularly in light of the new Tax Cuts and Jobs Act of 2017 and its provisions regarding the 'siloing' of unrelated business losses and the taxation of certain fringe benefits being provided by exempt organization employers. This Act changes the playing field for exempt organizations reporting the receipt of unrelated business income.

Learning Objectives:

1. Apply the provisions of the Tax Cuts and Jobs Act of 2017 to an exempt organization.
2. Identify the new parts/lines of the Form 990-T which were added as a result of the Tax Cuts and Jobs Act of 2017.

Not all endowments are the same, and they often times create complexity and confusion within not-for-profit organizations. This session will review endowment accounting and financial reporting, provide an overview of UPMIFA, and share some suggestions for effective communication with Boards, development staff, and donors about endowments.

Learning Objectives:

• Assess endowment accounting, financial reporting, and disclosures – with a focused discussion on the impact of ASU 2016-14 on endowments 
• Interpret accounting rules for underwater endowments 
• Contract donor-restricted and board-designated endowments
• Assess endowment pool accounting

In this session, we will address the more challenging issues in a single audit environment, including those that are complex, infrequent, and/or subject to increased auditor judgment.

Learning Objectives:

• Assess high risk areas of the single audit and how to address
• Evaluate best practices to avoid deficiencies in a single audit