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Keeping informed and up-to-date in the highly-specialized field of governmental accounting and auditing is no easy task. Whether you are employed in a government entity or serve as the external auditor, it is essential that you remain up-to -date on the most recent standards, pronouncements, regulations and trends. This three-day government cluster, at Sandia Resort and Casino, May 23-25, 2016, provides you with updates and guidance on the developments you need to know to be a government finance expert.
State Auditor Tim Keller will kick off events on day one of the cluster with the initiatives of his office, as he is now into the second year of his term. Last year's attendees requested that we bring back speaker Mark Eich. On day one you will get to hear from this highly rated CliftonLarsonAllen speaker on a topic that tops the list of concerns of businesses and individuals alike - cyber security. Steve Keene, Moss Adams Regional Managing Partner and top rated speaker from the 2014 cluster is also back as requested. Steve's presentation will earn participants two Ethics credit.
We are pleased to have Jim Brackens, Vice President of Ethics and Practice Quality at the AICPA, get things started on day two of the training. For a GASB Up- date we have brought the CPA who makes it all sound interesting - Greg Driscoll from KPMG's Boston office. We are also very pleased to introduce Constance Hunter, the Chief Economist for KPMG LLP and a recognized economic thought leader focusing on the global economy.
Day three includes, among other topics, refreshers and updates. What were some of the Uniform Grant Guidance implementation issues experienced from both the auditee and auditor perspective? Erica Forhan, partner with Moss Adams LLP from the Seattle office, returns to discuss this, and changes to both the SEFA presentation and major program determination required this year, as well as a GAGAS refresher.
Designed for CPAs in public practice and government audit organizations responsible for planning, supervision and the conduct of governmental engagements and staff auditors; those employed in government and industry who are responsible for compliance with laws and regulations; and for financial managers and members in government and industry who are responsible for financial statement preparation and single audit compliance. This training is a great opportunity to help you stay up-to-date, obtain your continuing professional education and network with government finance experts.
DAY 1 - Monday, May 23, 2016 – CPE Credits 8.5
State Auditor Tim Keller - Opening remarks and the initiatives of the Office of the State Auditor.
Cyber Crime Trends, 2016 Update - Hackers have learned to profit from their activities. While breaches at large companies like Target, Home Depot and Sony dominate the news this threat is significant for various types of organizations as well. Virtually every industry segment is affected; indeed, any organization that stores personal financial information on the network or conducts online cash management is a potential target. Payment fraud targeting wire transfers, automatic clearing house payments, and credit cards are increasing at an alarming rate. Historically, hacking has been a high risk issue only for banks, but attackers are now targeting all types of organizations in an effort to access bank funds via online payment methods. This session will describe the threat landscape, discuss regulatory efforts to address the threat, and provide insight on how business leaders can effectively address this emerging threat.
Using Data Analytics as a Management Tool to Identify Organizational Risks - As transaction volumes and information increase and become more complex, organizations will need to evaluate different mechanisms to effectively monitor their data. Data analytics is an opportunity to effectively gain insight through analysis of large volumes of data, in a limited amount of time. At its core, data analytics is the process of organizing large amounts of data into a useable and understandable format, which allows an organization to identify unusual activity based on expected results or criteria. In this session we will introduce a method to apply data analytics, demonstrate capability and explain how it can be used to efficiently and effectively identify and address risks.
Ethics in Accounting - Accountants handle a wide range of confidential and sensitive data in their daily responsibilities. New ethical issues emerge every day in this "information age". In this session we will review the GAO ethical principles and provide an overview of the conceptual framework and how it works. In addition, we will provide an overview of the similarities and differences between AICPA and GAO independence rules.
GASB Statement No. 77 - GASB Statement No. 77, tax abatement disclosures, was issued in August 2015 by the Governmental Accounting Standards Board. GASB Statement No. 77 will become effective for financial statements for periods beginning after December 15, 2015 (FY17). This statement requires disclosure of tax abatement information about a reporting government's own tax abatement agreements and those that are entered into by other governments that reduce the reporting government's tax revenues. This session will assist governments and their auditors in starting to prepare to implement this new standard.
DAY 2 - Tuesday, May 24, 2016 – CPE Credits 7.5
Enhancing Audit Quality - The AICPA has embarked on a far-reaching effort to help reinforce the profession's commitment to quality. Learn about upcoming tools and resources designed to develop and demonstrate an auditor's competency, the near - and long-term improvements planned for peer review, considerations for changes in audit and quality control standards, enhancements to the ethics enforcement process as well as other initiatives and activities and how they will impact your firm or organization. Included will be plans to specifically enhance the performance of governmental audits in anticipation of the upcoming single audit quality study mandated by the Office of Management and Budget.
GASB Activities Update
The Governmental Accounting Standards Board (GASB) has continued to advance several key projects on its technical agenda over the past year. This session will provide an overview of the provisions of recently issued pronouncements of the GASB, along with an update on the status of key projects currently under deliberation.
Economic Outlook - A look at developments in the U.S. and global economies in 2016.
Executive Order 2013-006 (EO-6) and Fiscal Agents - Governor Susana Martinez signed Executive Order 2013-006 (EO-6) on May 2, 2013, which: establishes uniform funding criteria which must be met before a grantee is eligible to receive a grant funding: and grant management and oversight requirements. Such requirements apply to all state capital outlay appropriations by state agencies to other entities. The Department of Finance and Administration through its Local Government Division is charged with implementing and enforcing EO- 6. Implementation and enforcement shall be accomplished by regulations that will be part of the New Mexico Administrative Code.
Fund Balance Classification: Common Mistakes and Trends
DAY 3 - Wednesday, May 25, 2016 – CPE Credits 8.0
NM Public Accountancy Board Issues & Update - The current Chair of the Board will discuss ethical and compliance issues that get CPAs in trouble with the Board; Outreach programs of the Board; plus upcoming changes in the Accountancy Law, Peer Review, and the Uniform CPA Exam.
UGG Update and Implementation - The Uniform Grant Guidance is now in effect for grants awarded on or after December 26, 2014. What were the implementation issues for both the auditee and auditor? In this session we will discuss implementation issues from the first year. We will also dive into the Cost Principles requirements under the Uniform Grant Guidance.
Preparing and Reporting on the Schedule of Expenditures of Federal Awards (SEFA) - There are new requirements to the Schedule of Expenditures of Federal Awards. Have you begun revising your SEFA to ensure that you are in compliance? In this session we will identify these changes and discuss the auditee, auditor, and federal agencies/pass through entities responsibilities for the reporting requirements.
Single Audit Changes under the Grant Reform - New requirements under the Uniform Grant Guidance are now in effect in determining major programs performed in a Single Audit. Will there be more or less federal programs to be audited this year? This session will provide you with the step by step approach in determining the major programs to be audited.
Generally Accepted Government Auditing Standards (GAGAS) Refresher - The Generally Accepted Government Auditing Standards, also known as the Yellow Book, provide a framework for conducting high quality audits with competence, integrity, objectivity, and independence. This session will provide an overview of the standards.
GASB 67 and 68 Implementation - GASB 67 and 68 were implemented last year. In this session you will hear the good, bad and ugly from both the State Agency side and Local Government side as to the implementation process and issues that came out of it.
* SPECIAL PRICING APPLIES TO THIS COURSE:
A deeply discounted sleeping room rate has been arranged. Ask for Government Finance Experts Cluster. Cut off date is April 22, 2016 - call sooner to ensure availability. $165 sgl./dbl. 877-272-9199 or 505-798-3930.
Registration fee includes instruction, course manual, refreshments and lunch.
Register by May 11 for all three days and pay only $199 per seminar, per person.
Register for one or two seminars and pay $229 per seminar, per person.
NMSCPA Member and Plan & Save discounts do not apply.
Registration received after May 11 must include an additional $30 late charge for each seminar.
Cancellation and refund policies will be applied. See CPE Policies.
Please note that start times and CPE credits do vary from day to day.
* Full fee is the amount prior to applying applicable discounts. Read CPE Policies for an explanation of discounts.