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Auditees may find the session useful as well. In addition to exploring some of the more significant implementation challenges and key auditor considerations, specifics topics to be covered include the following:
Practical application tips on GASB's SBITA standards and similarities with GASB’s lease standard
Auditing considerations for SBITA assets, liabilities, and other related financial statement amounts
Helpful tips for auditors in developing an effective and efficient audit approach
A summary of reporting matters relating to new standards
Answers to common questions related to the new standards
Learning Objectives:
Apply the single model for recording leases and SBITAs
Differentiate implementation challenges related to GASB Statement No. 87 and GASB Statement No. 96
Identify key auditor considerations
Identify an effective and efficient audit approach