Total Credits: 8 including 4 Accounting (Governmental) - Technical, 4 Auditing (Governmental) - Technical
You’ll focus on the recent changes in school district accounting, auditing, reporting, the single audit and implications from the change in the Governor’s office for the first time in 8 years. We will review the implications of the significant changes in the Compliance Supplement on school single audit testing and reporting requirements as well as school grants management. In addition, understanding implications from changes in school funding and operations will equip participants to better plan and perform audit tests. The session will also focus on GASB 84 and its implications for school accounting, reporting and related audit risks, GASB 75 (OPEB) and GASB 68 (Pension), including the accounting requirements, ORS tools, and related audit requirements for school districts. AICPA Governmental Accounting and Auditing Guide and Single Audit Guide will be applied to Michigan School audits. Further we will integrate significant school funding changes impacting school districts in 2019 and 2020. Schools in Michigan face continuing challenges from school funding changes, retirement costs, Early Warning requirements, compensation pressures, healthcare requirements, fund deficits, deficit elimination plans, school closures, and student performance requirements. All these issues impact audit risk, audit procedures, reporting requirements, and an increased risk of misstatement due to error or fraud. Auditors must understand how the Uniform Guidance applies to Michigan schools. Districts must consider MDE grants management guidance and requirements outlined in the Michigan School Audit Manual. Auditor tests must consider these requirements and framework changes. The 2019 Compliance Supplement, all new with significant changes in audit scope, along with the updated School Audit Manual must be incorporated into the audit effort. With increased client and auditor demands as well as state oversight, it is even more important to effectively plan, execute and conclude the audit in a cost-effective manner.
Important CPE Credit Information_READ BEFORE WEBCAST UPDATED (0.47 MB) | Available after Purchase |
Course Manual_ School District (3.9 MB) | 226 Pages | Available after Purchase |
Supplemental Materials (3.9 MB) | 81 Pages | Available after Purchase |
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
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