Dear Center Members: |
This GAQC Alert provides information on the following information relevant to upcoming GAQC Web events:
- Registration information for our April 13, 2021, Web event, Navigating Component Units, which should be of interest to our members that perform financial statement audits of state and local governments;
- Registration information for the required 2021 GAQC Annual Update Webcast scheduled for May 4, 2021
- Registration information for a CPE rebroadcast of the GAQC Government Auditing Standards Fundamentals Web event to be held on April 21, 2021
- Registration information for a CPE rebroadcast of our popular Single Audit Fundamentals Series to be held on April 22-23, 2021; and
- A reminder about other upcoming GAQC Web events for which registration information will be sent at a later date.
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Component Unit Event
The next live GAQC Web event, Navigating Component Units, will be held on Tuesday, April 13, 2021, from 1:00 PM – 3:00 PM (Eastern). This event will help government preparers and auditors of state and local governments better understand and navigate the Governmental Accounting Standards Board financial reporting guidance for component units, including definitions, requirements, financial statement presentations, and common areas of challenge. The event will be helpful for staff newer to the governmental area, as well as for seasoned staff looking for a refresher. Presenters for the event are Michelle Horaney, CPA, with RSM and Jeff Markert, CPA, with KPMG LLP. The following topics will be covered:
- Key component unit definitions, requirements, and concepts;
- Common areas of challenge;
- Financial statement presentations; and
- Available resources.
GAQC Member Registration with CPE (fee). Access the CPE registration page.
GAQC Member Registration with no-CPE (free). Access the no-CPE registration page.
2021 Required Annual Webcast
The GAQC annual Webcast, 2021 GAQC Annual Update Webcast, will be held on May 4, 2021, from 1:00 PM – 3:00 PM (Eastern). It will provide members with a summary of the key issues that should be considered by audit teams as part of planning for the 2021 audit season. The Webcast will include the latest on the impact of COVID-19 funding and related guidance among many other important topics. The presenters are: Stephen Blann, CPA, Rehmann; Mary Foelster, CPA, AICPA; Kim McCormick, CPA, Grant Thornton; and Lindsey Oakley, CPA, BKD. Topics to be covered include:
- The latest on single audits and related regulatory matters, including what we expect for the 2021 Office of Management and Budget (OMB) Compliance Supplement;
- A summary of various accounting and auditing standard-setters' activities;
- What is going on with "other compliance audits" such as those required by the U.S. Departments of Education and Housing and Urban Development;
- Other updates, best practices, and tips; and
- Available resources and tools.
The Webcast is required for firm designated audit quality partners and state audit organization designated single audit leaders. However, all levels of staff will benefit from attending. While it is best to view the live offering prior to starting your 2021 audits, there will be several CPE rebroadcasts for those that have scheduling conflicts. We will also post a no-CPE archive after the event.
GAQC Member Registration with CPE (fee). Access the CPE registration page.
GAQC Member Registration with no-CPE (free). Access the no-CPE registration page.
Government Auditing Standards Fundamentals
The GAQC is offering a CPE rebroadcast of its Government Auditing Standards Fundamentals Web event on Tuesday, April 21, 2021; from 1:00 PM – 3:00 PM (Eastern). Many auditors are currently finding themselves performing audits under Government Auditing Standards (the Yellow Book) for the first time because their governmental, not-for-profit, or for-profit entity clients (e.g. healthcare providers) are becoming subject to the Yellow Book for the first time due to significant increases in federal COVID-19 funding. (If you are not interested in CPE you can always access the no-CPE archive).
GAQC Member Registration with CPE (fee). Access the CPE registration page.
Single Audit Fundamentals
The GAQC is also rebroadcasting its Single Audit Fundamentals 4-part series on April 22 - 23, 2021. With all of the new federal COVID-19 funding, we know that many of our members have staff that need training. This series, which provides up to 8 hours of CPE, offers basic training for staff that are new to performing single audits or that just want a refresher and will serve as a strong foundational knowledge. See specific dates and times below. GAQC members pay $79.20 (20% discount) per part with member discount code GAQC. (If you are not interested in CPE you can always access the no-CPE archive).
Access registration information for all 4 parts. Alternatively, staff can sign up for individual parts as follows (all times are Eastern):
- Part 1: What is a Single Audit? A Basic Background and Overview. Thursday, April 22, 2021, from 11:00 AM – 1:00 PM. Register for Part 1 only.
- B. Thursday, April 22, 2021, from 1:00 PM – 3:00 PM. Register for Part 2 only.
- Part 3: Understanding and Testing Compliance Requirements and Internal Control over Compliance. Friday, April 23, 2021, from 11:00 AM – 1:00 PM. Register for Part 3 only.
- Part 4: Overview of Sampling and Single Audit Reporting Requirements. Friday, April 23, 2021, from 1:00 PM – 3:00 PM. Register for Part 4 only.
Other Upcoming GAQC Web Events
We also have planned the following GAQC Web events in May and June. Please mark your calendars and watch for registration information in future Alerts.
State and Local Government Audit Planning - May 20, 2021, from 1:00 PM – 3:00 PM (Eastern). This annual event will help you prepare for your 2021 state and local government financial statement audits at the time when many are beginning the audit planning process.
Summer Fun Rebroadcast Week - June 21 – 25, 2021. Our annual "summer fun" week of CPE Web event rebroadcasts will be held from June 21st – June 25th, with various start times. This is a great opportunity to catch a previous GAQC event that you or your staff missed and access quality Yellow Book CPE.
OMB Compliance Supplement and Single Audit Update - June 30, 2021 from 1:00 PM – 3:00 PM (Eastern Time). This event will provide you with a critical update on recent single audit developments including what is expected in the 2021 Compliance Supplement and the impact of the COVID-19 pandemic legislative action on single audits including the American Rescue Plan Act of 2021.
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Sincerely,
AICPA Governmental Audit Quality Center
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In This Alert |
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Uniform Guidance Event |
The no-CPE archive of the GAQC Web event, Uniform Guidance Revisions: What You Need to Know," is now available. Access the archive. Prefer CPE? The GAQC will rebroadcast this event for CPE during our June "summer fun" rebroadcast week. Stay tuned. |
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Additional Resources |
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Stay Informed |
We welcome any suggestions or questions - please send them by e-mail at GAQC@aicpa.org.
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