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We’ll kick off Day 2 with a look at the new Yellow Book and changes entities will have to make in the areas of independence, quality control, and continuing education. We’ll also look at common deficiencies in Yellow Book engagements. We’ll then switch gears and discuss changes coming from the AICPA in the areas of the auditor’s report, audit evidence and other information. We’ll also look at some Professional Ethics changes and proposed changes impacting governmental entities. Single Audits come with unique areas of issues. We’ll look at common deficiencies, changes to the data collection form and compliance supplement as well as auditing procurement under the Uniform Guidance. We’ll then switch gears and address two key issues identified by the AICPA as high-risk issues in audits – risk assessments and documentation. We’ll close with a look at changes happening in audit including technology, trends in human resources and how governmental auditors can prepare for these changes.

Who Will Benefit

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.

Credits

Category Amount
Government Auditing 8.00

Leaders

  • Melisa F. Galasso

    Melisa F. Galasso, CPA, is the founder of Galasso Learning Solutions. She specializes in creating custom training courses that promote genuine learning and drive improved outcomes. Melisa teaches courses in advanced technical accounting and auditing, including not for profit and governmental accounting, as well as courses dealing with essential professional and soft skills. Her goal is to customize each course to deliver exceptional return on investment by leaving each participant with actionable takeaways and clear means to apply what was learned. Melisa monitors regulatory bodies for changes in auditing and accounting guidance and serves as a subject matter expert in implementing the updated guidance. She is a member of and frequent instructor for the American Institute of Certified Public Accountants (AICPA), the North Carolina Association of Certified Public Accountants (NCACPA), and the Virginia Society of Certified Public Accountants (VSCPA). Melisa serves on the Board of NCACPA’s Charlotte Chapter and is chair of the A&A Committee for the NCACPA. She was recognized as a Super CPA by Virginia Business Magazine in 2007 and received the 2013 Women to Watch - Emerging Leader Award from the NCACPA and AICPA. She is also a graduate of the 2014 class of the AICPA’s Leadership Academy. Melisa received a Bachelor of Science in Business Administration with a concentration in Accounting and International Business from Georgetown University.

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