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Live Webcast Replay

ACPEN Signature: 2021 Governmental Accounting & Auditing Update


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

Average Rating:
   4.7
Category:
Accounting and Auditing |  ACPEN Signature
Faculty:
Carole A. Burgess, CPA |  Frank Crawford, CPA |  Robert Scott |  David R. Bean, CPA |  William Blend, CPA
Course Levels:
Update
Duration:
8 Hours
License:
Access for event date only.

Dates


Description

Stay up-to-date on rapidly changing developments by participating in the 2021 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 state and local 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. In 2021, governments and their auditors continue to operate in a rapidly changing environment as they face the many challenges associated with the COVID-19 pandemic and recovery. From a governmental accounting, auditing, and compliance perspective, 2021 will be a critical year for addressing the complex pandemic-related challenges as well as focusing on implementing new standards and requirements! Plus, it is imperative that you start planning for the significant changes coming in 2022 and beyond! Hear our important updates for 2021 on addressing key challenges (including accounting, control, operations, auditing, federal funding, compliance, reporting) related to the COVID-19 pandemic! Other exciting new topics this year include focused discussions on implementing GASB’s fiduciary activities and lease standards and the AICPA reporting standards, as well as tackling cyber security challenges!

Even with GASB Statement No. 95’s postponements of the effective dates of certain standards due to the COVID-19 pandemic, effective dates for key GASB standards are already here or approaching quickly. GASB has also provided guidance and tools addressing pandemic-related accounting issues. Now is the time to find out about the details on how these and other recently effective guidance 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.

Governments are implementing or have recently implemented GASB’s standard on fiduciary activities. And the implementation time for the complex new lease standard is now! Other key standards that will be covered include conduit debt obligations (GASB Statement No. 91) and public-private and public-public partnerships and availability payment arrangements (GASB Statement No. 94), as well as the latest information on GASB projects (including key projects on revenue recognition and the reporting model). You’ll get the latest scoop on all the new standards from both the GASB, preparer, and audit implementation sides—and hear about solutions to those issues.

2021 is also the time to focus on preparing to implement GASB’s new lease standards! GASB’s new lease standards significantly change the existing lease guidance for governments. It is imperative that government finance officials and their auditors understand how GASB Statement No. 87 and related implementation guide questions and answers will affect accounting for leases and the effect on governmental reporting. Now is the time to find out about implementation challenges and to set a strategy in motion on how to conquer those critical implementation issues!

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. In addition to providing you with the latest information about the effect of the COVID-19 pandemic on single audits, the ACPEN panel will highlight key issues relating to the Uniform Guidance (including recent revisions), the 2020 and 2021 OMB Compliance Supplements, submission deadlines, the schedule of expenditures of federal awards, key challenges with the COVID-19 funding under the CARES Act, ARP, CRRSAA, Provider Relief Fund, the updated Audit Guide, and the latest audit quality findings relating to single audits. It is critical that auditors understand how requirements have changed, how to effectively use the Compliance Supplement, and how to identify and test key COVID-19 funding requirements.

New hot topic for 2021 on preparing to face cyber security challenges!  Hardly a week goes by without major headlines heralding another successful ransomware or other type of cyber attack bringing an entire organization to a standstill. Even a non-malicious unplanned outage can be devastating and yet few in top management or in finance understand what it takes to keep IT reliable and safe. This topic takes a non-technical approach to the role all of us play in hardening the target and keeping IT both reliable and effective.

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
  • Review most recent governmental accounting and auditing developments
  • Discuss the new and recently effective GASB pronouncements

Major Subjects
  • Find out about the requirements in challenging new standards on fiduciary activities, leases, conduit debt, public-private and public-public partnerships and availability payment arrangements, and other new GASB standards.
  • Hear some hints on how to avoid pitfalls and prepare for a successful implementation of the new fiduciary activities and lease standards. (Hear the perspectives from a seasoned government finance official, auditors, and a standard-setter that want to help you successfully conquer these complex new standards!)
  • Find out the details about critical implementation and audit issues for governments and auditors tackling other new GASB standards.
  • Hear the latest about hot audit topics, including audit issues relating to the COVID-19 pandemic!
  • Hear information about current accounting, auditing, and operational issues affecting governments and their auditors, including pandemic-related issues.
  • Hear about the most recent developments affecting single audits, including the 2021 OMB Compliance Supplement, as well as:
  • Guidance from the AICPA, OMB, and other agencies about the treatment of COVID-19 funding, information of which funding is subject to Uniform Guidance requirements, treatment of funding on the SEFA, deferrals, and the latest information about compliance issues.
  • The latest guidance on compliance requirements and single audit reporting.
  • Changes to the 2021 Compliance Supplement.
  • Updates on Federal Audit Clearinghouse activities and the Data Collection Form.
  • Single audit quality issues (including recent audit quality findings).
  • Discover the details about a recent update to Government Auditing Standards, 2018 Revision (2018 Yellow Book).
  • Discover how new accounting and auditing standards will affect governments and your government practice, including common implementation issues, reporting issues, and best practices. The key focus will be on implementing the new reporting standards.
  • Hear guidance from experts on how to avoid common single audit deficiencies.
  • Find out how you can prepare to face cyber security challenges.
  • 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, with a focus on the reporting model project.

Course Materials

Faculty

Carole A. Burgess, CPA Related seminars and products


Carole A. Burgess, CPA, is an Executive Editor of PPC products for the Tax & Accounting business of Thomson Reuters, in Dallas, 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's Profile

Frank Crawford, CPA Related seminars and products

Crawford & Associates, P.C.


Frank Crawford is President of Crawford & Associates, P.C., Certified Public Accountants, an accounting firm located in Oklahoma City, OK.  The firm specializes in providing auditing, consulting and accounting services solely to governmental entities and is a member of the American Institute of Certified Public Accountants (AICPA), the AICPA Government Audit Quality Center, and former Chair of the AICPA Government Expert Panel.  Over the last 35 years, Frank, as President of Crawford & Associates, has provided a variety of audit and accounting services to all sizes and types of governmental entities, including financial statement audits and attestation services, non-attestation services such as financial statement preparation services, general accounting and advisory services, fraud investigations, internal control analysis, accounting policy and procedure development, outsourced internal auditing and internal monitoring, the development of management anti-fraud programs and controls, quality assurance reviews, training, and expert witness testimonies. 


Robert Scott Related seminars and products


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.


David R. Bean, CPA Related seminars and products


David R. Bean, CPA, is the chief executive officer of Governmental Accounting Research, LLC, a consulting and training firm dedicated to public sector accounting and financial reporting activities.  Prior to his retirement from the Governmental Accounting Standards Board (GASB) in March 2021, David served as the GASB director of research and technical activities over 30 years. 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 (Blue Book) and was the founder of the GAAFR Review newsletter. 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. 


William Blend, CPA's Profile

William Blend, CPA Related seminars and products


Bill Blend is a Shareholder and a member of the MSL’s Governmental Practice Group (GPG). He recently served as the Firm’s Quality Control Shareholder. He has over 25 years of public and private sector accounting, audit and consulting experience.

His clients include a vast array of governments including Counties, Municipalities, Utilities, Airports and Special Districts of all sizes. He is qualified to perform audits in accordance with Government Auditing Standards, Federal Single Audit Uniform Guidance, and Florida Single Audit requirements.

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 AICPA’s yellow book update CPE session in 2015 and 2016.

Bill is a certified fraud examiner.  He has investigated several cases involving business fraud and has testified in court cases. Bill is also trained in the use of various data mining and Artificial Intelligence software tools.


Dates

Thu, Dec 16, 2021 - 08:00am to 04:06pm MST
Thu, Dec 16, 2021 - 12:00pm to 08:06pm MST
Tue, Dec 28, 2021 - 08:00am to 04:06pm MST
Tue, Dec 28, 2021 - 12:00pm to 08:06pm MST
Wed, Jan 12, 2022 - 08:00am to 04:06pm MST
Wed, Jan 12, 2022 - 12:00pm to 08:06pm MST

Additional Info

Basic Course Information

Prerequisites None
Advanced Preparation None
Designed For Industry and Public Practice
Original Recording Date 07/28/2021
Yellow Book

Yes

 


Course Developer Business Professionals' Network, Inc.
Date Added to Catalog 1/24/21

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
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.
Course Registration Requirements Online Registration

Reviews

5
4
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2
1

Overall:      4.7

Total Reviews: 43

Comments

Jim I - COLLEGE STATION, Texas

" "

Blanche S - CHARLOTTE, North Carolina

"Good session"

Matt B - Bettendorf, Iowa

" "

James R

"Great and informative, as always."

Melissa L

"Wonderful as always! This panel is always great and most knowledgeable. This course have been two days and still not covered all of the COVID-19 funding aspects. I'm most thankful for this annual summary course!"

Richard B - Belleville, Illinois

"Superb team of presenters, especially Frank Crawford. I look forward to this course every year"

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