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| The recent GAQC Web event titled, "The 2007 Yellow Book: What a Beginner Needs to Understand, is now available in archived format. Click here to access the audio and slides. |
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The CPE & Events quick link on the upper left side of the GAQC Web site is a place you should check regularly for the latest news on GAQC and other AICPA events. The Archived Member Web Events link in the blue box on our home page is a quick way to get to archived versions of previous GAQC Web events. You will find that many of these previous events continue to be relevant to your audit practices. CPE is not available for listening to the archived events.
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To stay abreast of these and other relevant events, visit the GAQC Web site at: gaqc.aicpa.org. Also, we welcome any suggestions or questions. Please send them by e-mail to GAQC@aicpa.org.
GAQC members may only reproduce and distribute GAQC e-alerts internally within the firm or State Audit Organization to other Center member personnel as part of the organization's professional services. For information about permission to copy any part of these documents for redistribution or inclusion in other work, please click on the copyright notice at the bottom of the page or phone the AICPA copyright permission hotline 919-402-4031. |
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| The purpose of this GAQC Alert is to provide you with important dates and information about the Governmental Audit Quality Center's (GAQC) schedule of member Web events through May 2011. Additionally, it covers other opportunities for continuing professional education (CPE). After reading this GAQC Alert you will be aware of the following Center and other events: |
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March 10, 2011 – A session on the AICPA's Audit Guide for performing Yellow Book and single audits; |
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Tuesday, March 22, 2011 – A session on the Office of Management and Budget (OMB) Cost Principles; |
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Wednesday, April 6, 2011 – A session to help you prepare for your 2011 state and local government audits; |
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Tuesday, May 3, 2011 – The GAQC annual required webcast (remember this is required viewing for GAQC designated audit quality partners and state audit organization (SAO) designated audit quality leaders); |
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Various upcoming 2011 AICPA conferences; and |
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Other AICPA Webcasts and CPE offerings of interest to our members. |
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| Read on for more details. Registration information for GAQC Web events will be sent in future GAQC Alerts. For now, mark your calendars. |
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| Upcoming GAQC Member Web Events |
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Below you will find a summary of upcoming GAQC Web events. We hope that you will consider joining your fellow GAQC members on these informative, interactive Web events. This schedule includes the required GAQC annual Webcast for members (see GAQC membership requirements) scheduled for May 3, 2011. All GAQC member Web events are scheduled to start at 1:00 PM and run until 3:00 PM (Eastern Time) and will be offered with a CPE Option (with a fee) for participation in the live offerings of the events, as well as a No CPE Option (with no fee).
Thursday, March 10, 2011, Walking Your Way Through the AICPA's Audit Guide for Performing Yellow Book and Single Audits
This session was offered at the 2010 AICPA National Governmental Accounting and Auditing conference and was well received. Therefore, the GAQC has decided to offer a Web based version of the session so that a broader audience can take advantage of it and become more familiar with how to use the AICPA Audit Guide, Government Auditing Standards and Circular A-133 Audits. This Audit Guide is an important resource for auditors to be aware of when performing audits under Government Auditing Standards (also referred to as the Yellow Book) or single audits. The GAQC gets many technical questions from members relating to these audits and more times than not, the answer can be found in the Audit Guide. After attending this GAQC Web event you will be aware of: |
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What the Guide contains and how it can help you; |
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The sections that get the most questions; |
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A discussion of certain areas within the Guide to build awareness; and |
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How the Guide changed in as a result of SAS No. 117, Compliance Audits |
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Presenters: Mary Foelster, CPA, AICPA, and Eric Formberg, CPA, Plante & Moran PLLC, and member of the GAQC Executive Committee
Tuesday, March 22, 2011, The OMB Cost Principles and Their Relevance to Your Single Audits
The OMB cost principles provide federal agencies a uniform approach for purposes of determining allowable costs. Some auditors find it difficult to get a handle on the OMB cost principles and to understand their relevance in a single audit. This GAQC member Web event will shed light on this important topic. Staff that is newer to single audits and those with experience that is looking for a refresher should find this event very informative. The session will provide a brief overview of the OMB cost principles relevant to recipients of federal awards and how these cost principles affect your single audits. Cost principles to be covered include: |
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Circular A-21, Cost Principles for Educational Institutions; |
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Circular A-87, Cost Principles for State, Local, and Indian Tribal Governments; |
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Circular A-122, Cost Principles for Nonprofit Organizations; and |
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U.S. Department of Health and Human Services (HHS) CFR Title 45, Part 74, Appendix E, Hospital Cost Principles for R & D. |
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Presenter: Sean Walker, CPA, Clifton Gunderson LLC, and member of the AICPA State and Local Government Expert Panel
Wednesday, April 6, 2011,State and Local Government Financial Statement Audits: A 2011 Audit Issues Rundown
This GAQC member Web event will update auditors on a number of state and local government (SLG) issues that could affect 2011 year-end audits. As those of you that practice in this area know, the SLG audit environment is full of risk due to the current economic situation, a proliferation of new and updated standards, as well as new legislative and regulatory developments. During this event you will hear from two audit practitioners who have been extensively involved with the activities of the AICPA SLG Expert Panel (SLGEP). They will describe the various developments and issues that have affected their governmental audit practices including: |
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The continuing effect of the current economy on audit procedures and risk assessments; |
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Challenges relating to newer auditing standards; |
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How their clients' implementations of recently effective Governmental Accounting Standards Board (GASB) standards has gone and related audit issues; and |
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Discussions with clients regarding GASB standards that will have to be implemented in future years and potential related issues going forward. |
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Presenters: James Lanzarotta, CPA, Moss Adams, LLC, and Chairman of the SLGEP, and Caroline Walsh, CPA, Macias Gini & O'Connell LLP, and former SLGEP member.
Tuesday, May 3, 2011, Required GAQC 2011 Annual Webcast Update
This GAQC Webcast is intended to provide your firm or SAO with information to help improve the quality of your governmental audit practice at a time when you are likely beginning to plan your 2011 audits. Therefore, viewing the Webcast prior to starting your 2011 governmental audits is important. Further, keep in mind that one of the GAQC membership requirements states that each firm's designated audit quality partner and each SAO's designated audit quality leader must attend this annual Center-sponsored Webcast. To avoid GAQC membership compliance issues and to get the latest information for purposes of audit planning, we hope that you will make every effort to attend the live Webcast. However, an archive of this GAQC Webcast will be made available after the live offering for those unable to attend.
Presenters: Corey Arvizu, Heinfeld, Meech & Co., PC, and Chairman of the GAQC Executive Committee; Amanda Nelson, KPMG, LLP, and current GAQC Executive Committee member; and Mary Foelster, AICPA. |
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| Upcoming AICPA Industry Conferences |
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The AICPA offers a number of AICPA Industry Conferences. Staff and members of the GAQC are currently involved in assisting with the development of the programs for the following AICPA conferences of interest to our members. We encourage you to consider taking advantage of these conference opportunities. If you do, be sure to look for us at the GAQC Exhibitor booth. Also, GAQC members receive a $50.00 discounted registration on the following conferences. Use coupon code: xxxxxx (send an email to gaqc@aicpa.org to receive the code) to obtain the discount. Additionally, if you register early, you can also take advantage of the early bird discounts that are provided.
National Not-for-Profit Industry Conference - June 9 - 10, 2011 (June 8 Optional Day),
Held in Washington, DC, the AICPA National Not-For-Profit Industry Conference is a comprehensive forum that deals with the challenges facing nonprofit practitioners and financial executives today, particularly in this economy. The 2011 Conference includes the latest updates on auditing, accounting, tax, management, operational analysis and new strategies to enable you to thrive in this economic climate. This conference also has a continued emphasis on federal grants and compliance requirements. Click here to view the brochure.
National Governmental Accounting and Auditing Update Conference - August 22 - 23, 2011 (August 24 Optional Day) in Washington, DC, and September 19 - 20, 2011 (September 18 Optional Day) in Las Vegas, NV
This AICPA National Governmental Accounting and Auditing Update Conference, which is offered in two locations (Washington, DC and Las Vegas, NV), is designed for practitioners; officials working in federal, state, or local governmental finance and accounting; and recipients of federal awards. This conference provides in-depth audit and accounting training specific to the state and local government arena. A special federal track is also offered at the Washington, DC location. Hear from influential policymakers and government officials who will provide insight and guidance on recent regulation and other issues, including the current economic environment and new and pending standards. This event also features opportunities to network with peers and interact with governmental experts. Click here to view the latest information for both conference locations and to register.
National Governmental and Not-for-Profit Training Program - October 24 - 26, 2011
Offered in Lake Buena Vista, FL, the National Governmental and Not-for-Profit Training Program is an interactive training program with a number of concurrent "hands-on" workshops. Gain insights from standard-setters and industry leaders on a broad range of topics, including developments in governmental accounting and auditing, advances in financial statement reporting, the latest in proposed regulations, and future issues impacting government and nonprofit organizations. You can design your own curriculum and select from over 50 different concurrent sessions to meet your specific business objectives. This conference delivers up-to-date coverage on current and emerging issues and topics and offers up to 24 of Yellow Book CPE. Click here to view the latest information and to register. |
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| Other AICPA Webcasts and CPE Offerings |
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The following summarizes several other AICPA Webcasts and CPE offerings that should be of interest to many GAQC members.
Single Audit Fundamentals Series
Based on a previous series of live GAQC Web events, this series of on-demand courses titled, InSight: Single Audit Fundamentals On-Demand Series, will provide auditors with the basics they need to know to perform single audits. The series is available as a complete series that includes access to four parts or you can purchase each part individually. The four parts include the following:
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Single Audit Fundamentals Part 1, Background and Overview |
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Single Audit Fundamentals Part II: The Mysteries of Major Program Determination |
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Single Audit Fundamentals Part III: Understanding and Testing of Controls and Compliance |
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Single Audit Fundamentals Part IV: Reporting Requirements and Available Resources |
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Click here to access the purchasing information for the series or individual parts.
State and Local Government - 2010/2011 Audit Briefing
This on-demand version of a previous AICPA Webcast will help you understand what is directly relevant to your 2010/11 year-end audits and will provide you with a strategic look at what's important for state and local governments. The program will review recently issued accounting and auditing pronouncements impacting both preparers and auditors of governmental entities. In addition, you'll get the latest updates from AICPA's Audit Risk Alert, State & Local Governments Industry Developments 2010/11. An updated version of this event will be scheduled later in 2011 and we will announce the date and other details via a future GAQC Alert. Click here to access more information about this training.
Not-for-Profit Organizations – 2010/2011 Audit Briefing
This on-demand version of a previous AICPA Webcast will help you understand what is directly relevant to your 2010/11 year-end audits and will provide you with a strategic look at what's important for Not-For-Profit Organizations (NPOs). The program will review recently issued accounting and auditing pronouncements impacting both preparers and auditors of NPOs. In addition, you'll get the latest updates from AICPA's Audit Risk Alert, Not-for-Profit Industry Developments 2010/11. An updated version of this event will be scheduled later in 2011 and we will announce the date and other details via a future GAQC Alert. Click here to access more information about this training.
AICPA Government and Not-for-Profit Catalog
 This catalog is published twice per year and provides information on self-study CPE courses, conferences, webcasts, and publications on various subjects. Topics you will find include government and NPO auditing and accounting, Housing and Urban Development developments, Form 990 issues, Yellow Book auditing, and single audits. Click here to access the catalog. When planning your CPE activities for the year and deciding whether you need to update your libraries, you should consider this catalog as a resource to assist you.
We hope you find this information useful as you plan your governmental CPE for the year and thank you for your commitment to governmental audit quality. |
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Sincerely,
AICPA Governmental Audit Quality Center |
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| To stay abreast of these and other relevant events, visit the GAQC Web site at: gaqc.aicpa.org. Also, we welcome any suggestions or questions. Please send them by e-mail to GAQC@aicpa.org. |
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| GAQC members may only reproduce and distribute GAQC e-alerts internally within the firm or State Audit Organization to other Center member personnel as part of the organization's professional services. For information about permission to copy any part of these documents for redistribution or inclusion in other work, please click on the copyright notice at the bottom of the page or phone the AICPA copyright permission hotline 919-402-4031. |
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