| Dear Center Members: |
This GAQC Alert informs you about several matters including the following:
- Registration information for the GAQC Web event, 2021 SLG Audit Planning Considerations, scheduled for May 20, 2021, which should be of interest to our members performing state and local government (SLG) financial statement audits;
- Registration information for the GAQC Web event, 2021 Compliance Supplement and Single Audit Update, which will be held on June 30, 2020, and will provide the latest on single audit developments;
- Registration information for upcoming single audit and Government Auditing Standards fundamental events on May 24-26, 2021;
- Information about our upcoming "Summer Fun" week of GAQC Web event rebroadcasts;
- Information on upcoming AICPA conferences of relevance to our members; and
- A reminder to use your membership benefits and a summary of a few of the more important benefits.
|
|
SLG Audit Planning Event
The next live GAQC Web event, 2021 SLG Audit Planning Considerations, will be held on Thursday, May 20, 2021, from 1:00 PM – 3:00 PM (Eastern Time). This annual GAQC event will help members that perform SLG financial statement audits learn about key audit and accounting developments at the time when many are beginning the audit planning process. The presenters are Michelle Watterworth, CPA, Plante Moran, Chris Pembrook, CPA, Crawford & Associates, and Tony Boras, CPA, Crowe LLP. Topics to be covered include:
- Current audit developments including details around upcoming significant changes to your SLG financial statement audit reports due to implications from the AICPA reporting suite of standards;
- A walk through of key accounting standards that will have an impact this year;
- Emerging practice issues and risk areas including evolving COVID-19 considerations; and
- Perspectives of practitioners serving on the AICPA SLG Expert Panel.
GAQC Member Registration with CPE (fee). Access the CPE registration page.
GAQC Member Registration with no-CPE (free). Access the CPE registration page.
Supplement and Single Audit Web Event
If you perform single audits, you should attend the upcoming GAQC live Web event, 2021 Compliance Supplement and Single Audit Update, which will be held on Wednesday, June 30, 2020, from 1:00 PM to 3:00 PM (Eastern Time). Even if the 2021 Office of Management and Budget (OMB) Compliance Supplement (2021 Supplement) is not released by the date of this event, we will provide you with the latest single audit developments we are aware of. Presenters for the event are John Good, EY LLP, and Kim McCormick, Grant Thornton. Topics to be covered include:
- Information on the 2021 Supplement, potential addendums, and the latest on timing;
- Continuing impact of the latest pandemic funding on single audits;
- Details around upcoming significant changes to your single audit reports due to implications from the AICPA reporting suite of standards; and
- An update on other relevant single audit activities.
GAQC Member Registration with CPE (fee). Access the CPE registration page.
GAQC Member Registration with no-CPE (free). Access the no-CPE registration page.
Fundamentals Sessions
If you have staff new to performing single audits, we are offering the following upcoming CPE rebroadcasts. Keep in mind that single audits are done under Government Auditing Standards and staff new to single audits also need to understand those standards. Be sure to enter your member discount code of "GAQC" to get your member pricing.
Government Auditing Standards Fundamentals will be held on May 26, 2021, from 1:00 PM – 3:00 PM (Eastern Time). Access GAQC member registration (with CPE).
Single Audit Fundamentals, a 4-part series will be held on May 24–25, 2021. See specific dates and times below. 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. May 24, 2021, from 11:00 AM – 1:00 PM. Register for Part 1 only.
- Part 2: Major Program Determination. May 24, 2021, from 2:00 PM – 4:00 PM. Register for Part 2 only.
- Part 3: Understanding and Testing Compliance Requirements and Internal Control over Compliance. May 25, 2021, from 11:00 AM – 1:00 PM. Register for Part 3 only.
- Part 4: Overview of Sampling and Single Audit Reporting Requirements. May 25, 2021, from 2:00 PM – 4:00 PM. Register for Part 4 only.
Summer Fun Rebroadcasts
Our annual "summer fun" week of GAQC Web event CPE rebroadcasts will be held from June 21, 2021 through June 25, 2021. We have selected several previously held events that continue to be relevant. This is a great chance to catch an event that you or your staff missed or to help staff new to the governmental area get up-to-speed. Mark your calendars and watch for future registration information. Remember that you and your staff can always access the no-CPE archives of GAQC Web events, including the required 2021 annual required Webcast.
Date/Time (Eastern)
|
Title |
21-Jun-21
11am-1pm
|
Heard in the Hallways: Commonly Asked Yellow Book Questions |
21-Jun-21
2pm-4pm
|
Considering and Documenting Nonaudit Services under Government Auditing Standards |
22-Jun-21
11am-1pm
|
Preparing for your First Single Audit: An Auditee Perspective |
22-Jun-21
2pm-4pm
|
When You Think It, Ink It! Best Practices in Single Audit Documentation |
23-Jun-21
11am-1pm
|
Navigating State and Local Government Component Units |
23-Jun-21
2pm-4pm
|
Smart Sampling in a Single Audit |
24-Jun-21
11am-1pm
|
Using Part 6 of the Compliance Supplement on Internal Control. |
24-Jun-21
2pm-4pm
|
Uniform Guidance Revisions: What You Need to Know. |
25-Jun-21
11am-1pm
|
2021 State and Local Government Audit Planning Considerations |
25-Jun-21
2pm-4pm
|
2021 Required GAQC Annual Update Webcast (note that if you prefer you can access the no-CPE archive of the Webcast). |
|
Upcoming AICPA Conferences
The following AICPA conferences may be relevant to your practice. You and your staff can use the code "GAQC" at checkout to obtain an additional $50 discount for each conference (in addition to "early bird" discounts available).
- Not-for-Profit Industry Conference, June 7 - 9, 2021, virtual offering only.
- Governmental Accounting and Auditing Update Conference, August 16 - 17, 2021, virtual offering only. Register by July 2, 2021, to obtain an "early bird" discount.
- Governmental and Not-for-Profit Training Program, October 25-27, 2021, Las Vegas, NV. Note that the COVID-19 outbreak may affect whether this event will occur in person, 100% virtually, or hybrid. Check the conference web link for the latest information going forward. Register by September 10, 2021, to obtain an "early bird" discount.
GAQC Membership Benefits
One of the most important aspects of your membership is the valuable information we provide. Are you sharing it with your staff to keep them aware of the latest developments? We certainly hope so! Here is a quick summary of some of the benefits you receive for being a Center member.
- GAQC Alerts. Our alerts are sent directly to each firm Designated Audit Quality Partner or state audit organization Designated Audit Quality Leader as key developments occur. They are also sent to one additional administrative contact if you have selected that option when setting up your membership (which we highly recommend you do). It is also easy to set up an Outlook rule to automatically forward our alerts to others in your practice. If you want to review past alerts, you can also access our archived alerts.
- GAQC Web Events. We typically offer 10 or more live Web events annually and numerous rebroadcasts on topics we believe will help our members gain valuable information or improve practice. Members can either register for CPE (with a fee) or register for the no-CPE option (free). Members can also access our archived no-CPE Web events stored by topic area (e.g., single audit, Government Auditing Standards, SLG financial statement audits, etc.).
- COVID-19 Resources. We hope you have been using your GAQC membership as your go-to place to learn the latest on pandemic-related implications for your governmental audits. We have accumulated all of our COVID-19 offerings to date on our COVID-19 Resource Page.
- OMB Compliance Supplement. As a public service, we provide the OMB Compliance Supplement broken down by section on our Web site. This page also provides our key observations on various sections to help ensure members do not overlook important information.
- Other Tools. The following are several other tools and resources available to members on the GAQC Web site (www.aicpa.org/GAQC).
* * * * *
Sincerely,
AICPA Governmental Audit Quality Center
|
|
 |
|
| In This Alert |
|
| Component Unit Event Available |
| Access a no-CPE archive of the GAQC Web event, Navigating SLG Government Component Units. Prefer CPE? If so, it will be rebroadcast for CPE on June 23, 2020. See the Summer Fun section of this alert for details. |
|
| Additional Resources |
|
| Stay Informed |
We welcome any suggestions or questions - please send them by e-mail at GAQC@aicpa.org.
Members of the Governmental Audit Quality Center (GAQC) may only reproduce and distribute GAQC Alerts internally within the firm or state audit organization (SAO) to other Center member firm/SAO personnel as part of the organizations' 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 below or phone the copyright permission hotline (919) 402-4031.
©2021 Association of International Certified Professional Accountants.
Online privacy policies and copyright information. |
|
|
|
