Governmental Accounting and Auditing Update

Available for 1 year after purchase date

**OnDemand**

8.0 Credits

Member Price $200.00

Non-Member Price $250.00

Overview

New GASB, OMB, and Yellow Book standards and requirements are detailed in this governmental accounting and auditing update to help you stay ahead of federal audit changes.

Highlights

Key Topics

GASB updates
Updated Statements on Auditing Standards (SASs)
Statement on Quality Management Standards (SQMS) No. 1, A Firm's System of Quality Management
SQMS No. 2, Engagement Quality Reviews
SQMS No. 3, Amendments to QM Sections 10, A Firm's System of Quality Management, and 20, Engagement Quality Reviews
Yellow Book & OMB updates affecting single audits
Ethics updates for governments and not-for-profit entities

Prerequisites

Knowledge of accouting and auditing in the government enviornment.

Designed For

Who Will Benefit

Preparers of government financial statements
Auditors of government financial statements
Users of government financial statements

Objectives

Learning Outcomes

Identify the effect of GASB statements on accounting and financial reporting for state and local governments.
Identify the projects that are on the active standard-setting agenda and their objectives.
Identify when a liability should be recorded for compensated absences.
Apply the disclosure criteria related to concentrations and constraints to determine whether and how to make disclosures required under GASB Statement No. 102, Certain Risk Disclosures.
Identify the requirements of recently issued or effective Statements on Auditing Standards (SASs).
Identify the requirements of Statement on Quality Management Standards (SQMS) No. 1, A Firm's System of Quality Management, SQMS No. 2, Engagement Quality Reviews, and SQMS No. 3, Amendments to QM Sections 10, A Firm's System of Quality Management, and 20, Engagement Quality Reviews.
Identify recent changes to the AICPA Code of Professional Conduct that affect auditors of governments and NFPs.
Distinguish the provisions of the Government Auditing Standards 2024 Revision.
Identify Yellow Book requirements related to independence, management's responsibilities, and reporting.
Identify changes to the Uniform Guidance.