ACPEN Signature:  2018 Governmental Accounting & Auditing Update
Live Webcast

ACPEN Signature: 2018 Governmental Accounting & Auditing Update


Total Credits: 8 including 4 Accounting (Governmental) - Technical, 4 Auditing (Governmental) - Technical



Description

Stay up-to-date on rapidly changing developments by participating in the 2018 Governmental Accounting and Auditing Update! Take advantage of this opportunity to find out about breaking government issues. This is your opportunity to hear about the latest challenges facing governments and practitioners who work with them and audit them, presented by leading experts on governmental accounting and auditing, both those who work in the trenches and those from the regulatory world.

With all of the fiscal, regulatory, and new standards challenges facing governments and their auditors, it is important to keep current on critical issues and developments. From a governmental accounting, auditing, and compliance perspective, 2018 will be a critical year for implementing new standards and requirements! Plus, it is imperative that you start planning ahead for the significant changes coming in 2019 and beyond! Exciting new topics this year include focused discussions on (a) one of the main challenges for Governmental Finance professionals—measuring and communicating the financial health of their organizations, and (b) fraud in governments!

GASB has issued an unprecedented number of standards in the last several years—issuing 16 statements in 2015–2017 and two, so far, in 2018. Now is the time to find out about the details on how these and other recently effective standards will affect governmental accounting and reporting. The ACPEN panel of experts can fill you in on all the latest details you need to know about critical new requirements, implementation issues, and developments.

Recently implemented pension standards and the OPEB standard for plans continue to provide challenges and implementation of the complex new OPEB standard for employers is here now! You’ll get the latest scoop on all the pension and OPEB issues from both the GASB and audit implementation sides—and hear about solutions to those issues. This is not the time to sit on the sidelines—plan and employer management and auditors need to hear the retrospective issues on pension standards and the OPEB plan standard and lay the groundwork to successfully meet the challenges associated with implementing the complex OPEB employer standard.

Governments and their auditors have continuing opportunities for learning more about the critical implementation issues for the various pension and OPEB standards. Plus, auditors face continuing or new challenges in 2018 with implementation issues related to other standards such as debt extinguishment and disclosures, and fiduciary fund reporting—all with a number of audit issues. Plus, now is the time for action to conquer critical implementation issues that affect employers relating to the OPEB standards. Also, you’ll find out about GAO’s proposed changes to the Yellow Book, including the latest on key decisions about what to expect in the final 2018 Yellow Book (including the effective date). At this year’s broadcast, it will be the perfect time to find out the details about how the latest auditing and reporting issues will affect your engagements and practice, including a discussion of crucial implementation issues for government audits.

For Single Audits, the ACPEN panel will cover topics that are relevant to single audits being performed NOW. Following current developments and using the most recent guidance is critical to conducting quality single audits. Hear the details on the latest single audit issues. The ACPEN panel will highlight key issues relating to the Uniform Guidance, as well as the latest guidance on how to use the “skinny” 2018 OMB Compliance Supplement along with the existing 2017 Compliance Supplement, the exposure draft on Data Collection Form changes, and the latest peer review findings relating to single audits. It is critical that auditors understand how requirements have changed and how to effectively use the Compliance Supplements.

New hot topics for 2018 on governmental financial health and fraud in governments are highlighted below!

One of the main challenges for Governmental Finance professionals is measuring and communicating the financial health of their organizations. This session will share with viewers a version of a simple financial analysis and rating tool for use in measuring and communicating the financial health and success of local governments. Using a unique combination of financial ratios, this segment will—

  • help assess a government’s fiscal performance over a period of time.
  • measure the government’s ability to meet its obligations as they become due.
  • determine the government’s ability to continue to serve its constituency at current service levels. The analysis also provides for ratio comparison to prior years and certain industry benchmarks.

Fraud in the governmental arena is a growing problem. The panel will cover recent developments related to internal control and fraud risk management, including:

  • The 2013 Updated COSO Internal Control Framework
  • The Updated GAO Green Book
  • The COSO/ACFE Fraud Risk Management Guide
  • The GAO Fraud Risk Management Framework
  • How and Why Fraud in Government Differs from Fraud in the Private Sector
  • The Federal Government’s Increased Emphasis on Fraud Risk and What State and Local Governments Should Expect to See as a Result

Finally, you’ll receive an update on the most recent accounting and auditing developments affecting governments and government auditors. This includes Single Audit issues, AICPA and Yellow Book implementation issues, new and recently effective GASB pronouncements, audit issues, and a look at what’s on the horizon. Join ACPEN’s panel of experts as they discuss, not only the technical requirements of new standards, but also the key implementation issues that must be addressed by auditors and their governmental clients! Benefit from their experience and insights from many perspectives, as well as their long experience in governmental accounting and auditing.

This broadcast is designed to provide CPE that meets the Yellow Book CPE criteria.

Faculty Interaction! With ACPEN courses, you may send questions to the panel in advance at Pre-CourseQuestions@ACPEN.com, and remember, participants can submit questions to the panel during the course and for two days after every ACPEN course, providing unparalleled faculty access!

Basic Course Information

Learning Objectives Find out about the requirements in challenging new standards on OPEB, fiduciary activities, debt disclosures, leases, and other new GASB standards. Find out more about GASB’s OPEB standards for plans and employers, and hear the details about critical implementation and audit issues for plans, employers, and auditors. Hear some hints on how to avoid pitfalls and prepare for a successful implementation of the new OPEB employer standard. (Hear the perspective from a seasoned government finance official that is leading the charge to help governments successfully conquer the complex new OPEB standards!) Hear about the most recent developments affecting single audits, including the 2018 OMB Compliance Supplement
Major Subjects The latest guidance on compliance requirements and single audit reporting, Changes to the “skinny” 2018 Compliance Supplement and guidance on using the 2017 and 2018 Supplements together, Updates on Federal Audit Clearinghouse activities and the Data Collection Form, and Single audit quality issues (including recent peer review findings). Find out about key revisions proposed in the new exposure draft of Government Auditing Standards, including: Proposed format changes; and the potential impact of proposed changes to the CPE requirements, auditor and client competence, and independence requirements relating to auditor preparation of client financial statements. Key concerns in responses from the AICPA and GFOA to the exposure draft—and the latest on key decisions about what to expect in the final 2018 Yellow Book (including the effective date). Discover tools to help with one of the main challenges for governmental finance professionals—measuring and communicating the financial health of their organizations. Find out about a simple financial analysis and rating tool for use in measuring and communicating the financial health and success of local governments. Hear about the latest issues relating to fraud in the governmental arena, including recent developments related to internal control and fraud risk management. Discover how new accounting and auditing standards will affect governments and your government practice, including common implementation issues, reporting issues, and best practices. Hear guidance from experts on how to avoid common single audit deficiencies. Learn the most recent auditing standards, government and Yellow Book/single audit risk alerts, and the latest AICPA audit and accounting guides. Find out what GASB projects are on the horizon.

Course Materials

Faculty

Carole A. Burgess, CPA Related seminars and products: 2


Carole A. Burgess, CPA, is an Executive Editor of PPC products for the Tax & Accounting business of Thomson Reuters, in Fort Worth, Texas. She is an author of PPC’s Guide to Single Audits, PPC’s Guide to Preparing Governmental Financial Statements, PPC’s Governmental Financial Statement Illustrations and Trends, and PPC’s Guide to Religious Organizations, and a contributing author of other guides and continuing education courses. Carole is also the technical review editor of The PPC Nonprofit Update newsletter. Ms. Burgess’ experience prior to joining PPC includes eleven years in public practice with Deloitte & Touche, LLP, where she was a senior manager specializing in state and local governments and recognized nationally as a compliance audit specialist relating to the Single Audit Act. Carole is a frequent presenter to accounting and other professional organizations including the Texas Society of CPAs


Frank Crawford, CPA Related seminars and products: 2


Frank Crawford, CPA, is President of Crawford & Associates, P.C., Certified Public Accountants, an accounting firm located in Oklahoma City, Oklahoma. The firm specializes in providing auditing, consulting and accounting services solely to governmental entities. Over the last 25 years, Crawford & Associates has provided a variety of audit and accounting services to all sizes of government, including, but not limited to many types of financial audits and attestation services, planning and executing GASB 34 implementation plans, fraud investigations, internal control analysis, accounting policy and procedure development, contract internal auditing and internal monitoring, the development of management anti-fraud programs and controls, quality assurance reviews, training, capital asset record development and expert witness testimony. Mr. Crawford has served as the Chair of the AICPA Government Expert Panel and the Oklahoma Society of CPAs Government Accounting and Auditing Committee, and has also been involved in a number of other AICPA committees and task forces as they relate to governmental accounting and auditing, including the AICPA Governmental Accounting and Auditing Committee, the AICPA Government and Not-For-Profit Expert Panel, the AICPA Government Performance and Accountability Committee, and the AICPA GASB 34 Audit Guide Revision Task Force. Mr. Crawford is also currently the Chairman of the AICPA National Governmental Accounting and Conference Planning Task Force, and is also a member of the Planning Committee of the AICPA’s Government and Not-For-Profit Training Conference. Over the years, Mr. Crawford has assisted both the AICPA and GASB in the development of several implementation guides as a member of an advisory group, task force or technical content provider. His experience with GASB 34 implementation and audit issues dates back to June 30, 1999, as auditor of the first general-purpose government in the United States to implement the requirements of GASB 34. Mr. Crawford is also currently working with many of the U.S. territories, commonwealths and freely-associated states on audit finding resolution and financial analysis projects. Frank is a frequent lecturer, trainer and discussion leader for numerous groups, including U.S. Federal Government Agencies, CPA Firms and State Societies, and has appeared in several AICPA continuing professional education videos and live satellite CPE broadcasts and Webcasts produced by the Accounting Continuing Professional Education Network related to governmental accounting and auditing.


David R. Bean, CPA Related seminars and products: 2


David R. Bean is the director of research and technical activities for the Governmental Accounting Standards Board. He assigns and provides oversight to the GASB’s research, technical, and administrative activities. Prior to joining the GASB in 1990, David worked in public accounting and government. He also has served as Deputy Chairman of the International Public Sector Accounting Standards Board (IPSASB). He was the lead author on the 1988 Governmental Accounting, Auditing and Financial Reporting and was the founder of the GAAFR Review. He was the last director of the National Council on Governmental Accounting before the formation of the GASB in 1984. David is a member of the Government Finance Officers Association, the Connecticut and Illinois Government Finance Officers Associations, the American Institute of Certified Public Accountants, the Illinois CPA Society, the Association of Government Accountants, the National Federation of Municipal Analysts, and the Municipal Analysts Group of New York.


David L. Cotton, CPA, CFE, CGFM Related seminars and products: 2


David L. Cotton, CPA, CFE, CGFM is chairman of Cotton & Company LLP, Certified Public Accountants. Cotton & Company is headquartered in Alexandria, Virginia. The firm has a practice concentration in assisting Federal and State agencies, inspectors general, and government grantees and contractors with a variety of government program-related assurance and advisory services. Cotton & Company has performed grant and contract, indirect cost rate, financial statement, financial related, and performance audits for more than two dozen Federal inspectors general as well as numerous other Federal and State agencies and programs. Cotton & Companys Federal agency audit clients have included the U.S. Government Accountability Office, the U.S. House of Representatives, the U.S. Small Business Administration, the U.S. Bureau of Prisons, and the U.S. Marshals Service. Cotton & Company also assists numerous Federal agencies in preparing financial statements and improving financial management and accounting systems. Mr. Cotton received his BS in mechanical engineering (1971) and an MBA in management science and labor relations (1972) from Lehigh University in Bethlehem, PA. He also pursued graduate studies in accounting and auditing at the University of Chicago, Graduate School of Business (1977 to 1978). Mr. Cotton is presently serving on the Advisory Council on Government Auditing Standards. He is a member of the Advisory Council of the Academy for Government Accountability. He is also a member of the advisory board of the Institute for Truth in Accounting. He is serving on the Institute of Internal Auditors (IIA) Anti-Fraud Programs and Controls Task Force, and is a former member of the American Institute of CPAs (AICPA) Group of 100. He served on the AICPA task force that wrote Management Override: The Achilles Heel of Fraud Prevention. He is the past-chairman of the AICPA Federal Accounting and Auditing Subcommittee and has served on the AICPA Governmental Accounting and Auditing Committee and the Government Technical Standards Subcommittee of the AICPA Professional Ethics Executive Committee. Mr. Cotton served on the board of the Virginia Society of Certified Public Accountants (VSCPA), and on the VSCPA Litigation Services Committee, Professional Ethics Committee, Quality Review Committee, and Governmental Accounting and Auditing Committee. He is member of the Greater Washington Society of CPAs (GWSCPA) and is serving on the GWSCPA Professional Ethics Committee. He is a member of the Association of Government Accountants (AGA) and is past-advisory board chairman and past-president of the AGA Northern Virginia Chapter. He is also a member of the Institute of Internal Auditors and the Association of Certified Fraud Examiners. Mr. Cotton has testified as an expert in governmental accounting and auditing issues and fraud issues before the United States Court of Federal Claims and other administrative and judicial bodies. Mr. Cotton served as a technical reviewer for the 1999 through 2003 editions of the AICPA Audit and Accounting Guide Audits of Federal Government Contractors. Mr. Cotton is the author of the AICPA continuing education courses Fraud in Governmental and Not-for-Profit Audits the Auditors Responsibilities Under SAS 82 and Joint and Indirect Cost Allocations: How to Prepare and Audit Them. He has lectured frequently on auditors fraud detection responsibilities under SAS 99, Consideration of Fraud in a Financial Statement Audit. He also has been an adjunct instructor at the Inspectors General Auditor Training Institute (Auditing the Federal Contracting Process and Contract and Procurement Fraud) and currently teaches at the George Mason University Small Business Development Center (Fundamentals of Accounting for Government Contracts).


Bob Scott, CPA Related seminars and products: 2


Bob Scott, CPA, is Chief Financial Officer/Assistant City Manager for the City of Carrollton, where he has responsibility for all aspects of the City?s financial operations. He has a Masters degree in Accounting and a Bachelor of Science degree in Political Science from Texas Tech University. Mr. Scott began his career in public accounting, ultimately serving as an audit manager with responsibility for a large number of governmental clients. While in public accounting, he was designated by his firm as a specialist in state and local government and served a two-year practice fellowship with the Governmental Accounting Standards Board. Mr. Scott has extensive experience in accounting and financial reporting issues having recently served on the review committee for both GASB?s GASB 34 implementation guide and the GFOA?s new ?Governmental Accounting, Auditing, and Financial Reporting? (known as the ?Blue Book?). He currently serves as Vice Chairman for the GFOA?s Committee on Accounting Auditing and Financial Reporting and has served in the past on the Governmental Accounting Advisory Committee (GASAC) and the AICPA?s Governmental Accounting and Auditing Committee (GAAC). He also has a great interest and personal experience in improving organizational performance. Mr. Scott is an active lecturer for the Government Finance Officers Association, the American Institute of Certified Public Accountants and the Southwest School of Governmental Finance, and has also co-authored several professional journal articles. He is an active member of the Government Finance Officers Association, American Institute of Certified Public Accountants, and various other professional organizations.


William Blend, CPA Related seminars and products: 2


William Blend, CPA, is a Shareholder and a member of Moore Stephens Lovelace, P.A. Governmental Practice Group (GPG). He is the firm’s Shareholder in charge of Quality Control. Bill has over 23 years of public and private sector accounting experience. The goal of the GPG is to work as a team to guarantee the success of our clients. Bill has performed audits on over 30 governmental entities including Counties, Municipalities, Utilities, Airports and Special Districts. He has been responsible for the planning of large, medium and small government audits. Through his career he has participated in all phases of an audit including; planning, performing, supervising, reviewing and preparing financial statements. He is qualified to perform audits in accordance with Government Auditing Standards, Federal Single Audit Uniform Guidance, and Florida Single Audit requirements. Beyond his qualifications for performing services for his governmental clients, he has also audited and performed consulting work for Not-for-Profit, Construction, Trucking, Health Care, and other Middle Market entities. Bill regularly performs training for organizations such as the FICPA, FGFOA, and internal MSL continuing education courses. He has been recognized by the FICPA as Outstanding Discussion Leader four times. He has also spoken in other States such as Massachusetts, Georgia, and Iowa. Bill authored the AICP’s yellow book update CPE session in 2015 and 2016. Bill is also a certified fraud examiner.  He has investigated cases involving business fraud and has testified in court cases. Bill is also trained in the use of IDEA data mining software.


Additional Info

Basic Course Information

Prerequisites None
Advanced Preparation None
Designed For Industry and Public Practice
Original Recording Date 07/18/2018
Yellow Book Yes
Course Developer Business Professionals' Network, Inc.
Date Added to Catalog 01/29/2018

Additional Information

Complaint Resolution Policy Please contact Anne Taylor for any complaints. anne.taylor@acpen.com, (972-377-8199).
Official Registry Statement Business Professionals' Network, Inc. is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org
Instructional Delivery Method Group Internet Based
Course Registration Requirements Online Registration
Refund/Cancellation Policy Please contact the ACPEN help desk 1-877-602-9877 or help@acpen.com if you wish to cancel your attendance for a previously purchased webcast and are requesting a refund or transfer.

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