This includes sessions from the conference: Governmental and Not-for-Profit Training Program 2018
Update on changes to independence standards including Yellow Book and SLG affiliates. Emphasize practical aspects of independence requirements for practitioners.
Attend this session whether you audit both GASB and FASB entities or your job only involves aspects of one. The key differences between GASB & FASB will be highlighted in order for you to be on top of your game when auditing these entities.
Nonprofits are turning to the internet and virtual relationships as fundraising channels to develop new sources of revenue. Funding opportunities include using established online fundraising sites, allowing organizational friends to leverage social media sites to fundraise on behalf of the organization, entering into commercial co-venture arrangements, and specific cause related marketing activities. These special fundraising vehicles and activities come with unique risks and rewards.
After this session, you will be able to:
This session will provide participants with the latest news and information on performing single audits including: the OMB Compliance Supplement, Uniform Guidance developments, quality update, and other Governmental Audit Quality Center activities.
Preparers, do you have a detailed plan to implement the new not-for-profit financial reporting standards? And auditors, are you and your not-for-profit clients ready? Industry experts will walk through the conversion of a not-for-profit’s financial statements and notes to ensure an efficient and effective implementation of FASB ASU 2016-14. You will learn how to overcome the most difficult challenges stemming from this new standard, through sample policies, examples of various board-designation actions, tips on liquidity management, and some expense allocation methodologies that will help not-for-profits satisfy the new requirements. The presentation will include a detailed implementation tool you can use either in your own entity or to assist your clients.
The new revenue recognition standard could potentially have a significant impact on not-for-profits. This session will provide background on the new standard and how it will impact exempt organizations. Speakers will use real-life examples to make the standard tangible.
As cybersecurity threats continue to multiply, it is paramount that auditors expand their understanding and expertise in the area of cybersecurity. Auditors at every level must be able to do some level of work pertaining to cybersecurity and IT controls. This session will provide training for procedures commonly found in updated IT controls checklists. Topics will include general controls and application controls, highlighting the related risks and controls that should be present to mitigate risks.
The Uniform Guidance procurement rules and guidelines are voluminous and have many challenging areas. This session will go over the current procurement rules and guidelines as well as updates to several of the procurement method thresholds. We will use real-life scenarios to show implementation of the standards, including challenges and advice for navigating the implementation. We will discuss OMB’s suggested approach to testing procurement under the Uniform Guidance and what audit teams need to know to prepare themselves to audit the Uniform Guidance procurement standards.
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:
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: