Financial Statement Tools, Practice Aids, and Other Resources for Auditees 


The GAQC also provides resources to its auditor members relating to financial statement audits of governments and not-for-profit organizations (NPOs).  The following should be of interest to auditees from these types of entities:

State and Local Governments

GASB Matters -A new section of the GAQC Web site to consolidate issues, resources, and communications from the AICPA and the State and Local Government Expert Panel (SLGEP) on Governmental Accounting Standards Board (GASB) matters.  Access the GASB Matters Resource Center.

GASB Pensions:  Are You Ready for June 30, 2015, Audit Implementation?
This GAQC archived member Web event will help auditors prepare for the effect of the GASB pension standards on governmental employer financial statement audits.  Access the archived event.

Audit Quality Discussion Part I:  Avoiding Common Deficiencies in State and Local Government Financial Statement Audits
This GAQC archived Web event is intended to remind auditors about the importance of continually making audit quality a practice focus, especially in audits of specialized industries like state and local government financial statement audits, and to communicate deficiency areas that we understand can be problematic in practice.  Access the archived event.

The GASB's Pension Standards Part I:  Considerations for Cost-Sharing Plans, Participating Employers
This GAQC archived Web event on the GASB’s Pension Standards is intended to provide key information to financial statement preparers (both plans and employers), as well as their auditors, on the nuances of issues related to cost-sharing multiple employer plans.  Access the archived event.

The GASB's Pension Standards Part II:  Considerations for Agent Plans and Participating Employees
This GAQC archived Web event on the GASB’s Pension Standards is intended to provide key information to financial statement preparers (both plans and employers), as well as their auditors on the nuances of issues related to agent multiple employer plans. Access the archived event.

An Overview of the New GASB Pension Accounting Standards: Part I  Web event. The purpose of this archived GAQC Web event is to assist participants in understanding the new underlying accounting and financial reporting requirements of GASB Statement Nos. 67 and 68. Part I of this GAQC Web series focused on the accounting side of this topic and was presented by GASB staff, accompanied by the chairman of the AICPA State and Local Government Expert Panel who moderated the session. A key focus area of the event was exploring the major changes in the calculation and reporting of pension obligations and expenses that are important to be aware of in order to prepare for implementation. This Web event explored how these changes might affect financial reporting going forward. Access this archived event.

New GASB Pension Standards – Increasing Transparency in Public-Sector Financial Reporting

 
This
video highlights two new Governmental Accounting Standards Board pension standards and how their implementation improves transparency around the effect of public pension benefits on the finances of state and local governments.

Article on Implementation Considerations of GASB 61.  This GAQC Article addresses the more significant changes that will result form the implementation of Governmental Accounting Standards Board (GASB) Statement No. 61, The Financial Reporting Entity:  Omnibus, and assumes that readers have a full understanding of GASB Statement No. 14, The Financial Reporting Entity.  The article was developed by several AICPA Expert Panels and is a must read if you are involved in the preparation of state and local government financial statements.  Access the article.

Not-for-Profits

2013 AICPA Guides for State and Local Governments, Not-for-Profits, and Yellow Book/Circular A-133 Audits: What to Expect for Clarity, Auditor Report Changes, and More Web Event. This Governmental Audit Quality Center archived Web event is intended to provide auditors and auditees with insight on what to expect in the 2013 editions of several key AICPA publications which include: 1) AICPA Audit Guide, Government Auditing Standards and Circular A-133 Audits (GAS/A-133 Guide); (2) AICPA Audit and Accounting Guide, Not-for-Profit Entities (NFP Guide); and (3) AICPA Audit and Accounting Guide, State and Local Governments (SLG Guide). Access this archived event.





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