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Governmental Accounting and Auditing Update + State & Local Guide
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Governmental Accounting and Auditing Update
Government
CPE Self-study
Governmental Accounting and Auditing Update
New GASB, OMB, and Yellow Book standards and requirements are detailed in this governmental accounting and auditing update to help you stay ahead of federal audit changes.
$159 - $250
Do you have an AICPA or CIMA membership? Log in to apply your member discount.
Format
Online
NASBA Field of Study
Accounting (Governmental)
Level
Intermediate
CPE Credits
8
Author(s)
Rebecca Meyer
Availability
1 year
Product Number
GAU25SSO
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Business & partner
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Product Details
Latest governmental accounting and auditing requirements
Recent developments can easily pass you by. Learning about new GASB, OMB, and Yellow Book requirements, will allow you to stay up to date on auditing standards and best practices.
You’ll learn about the following topics:
- Recent GASB standards and how to implement them
- Recently issued Statements on Auditing Standards
- Changes to the AICPA Code of Professional Conduct that affect governments
- The changes introduced in Government Auditing Standards 2024 Revision
- Quality management implementation considerations
- Yellow Book requirements relating to independence, management responsibilities, and reporting
- Updates to the Uniform Guidance issued by the OMB
Practical application of new requirements
You’ll have the opportunity to practice what you learn through realistic examples, and robust review questions will reinforce your knowledge to get you ready for implementing the new requirements.
Who Will Benefit
- Preparers of government financial statements
- Auditors of government financial statements
- Users of government financial statements
Key Topics
- GASB updates
- Updated Statements on Auditing Standards (SASs)
- Statement on Quality Management Standards (SQMS) No. 1, A Firm’s System of Quality Management
- SQMS No. 2, Engagement Quality Reviews
- SQMS No. 3, Amendments to QM Sections 10, A Firm’s System of Quality Management, and 20, Engagement Quality Reviews
- Yellow Book & OMB updates affecting single audits
- Ethics updates for governments and not-for-profit entities
Learning Outcomes
- Identify the effect of GASB statements on accounting and financial reporting for state and local governments.
- Identify the projects that are on the active standard-setting agenda and their objectives.
- Identify when a liability should be recorded for compensated absences.
- Apply the disclosure criteria related to concentrations and constraints to determine whether and how to make disclosures required under GASB Statement No. 102, Certain Risk Disclosures.
- Identify the requirements of recently issued or effective Statements on Auditing Standards (SASs).
- Identify the requirements of Statement on Quality Management Standards (SQMS) No. 1, A Firm’s System of Quality Management, SQMS No. 2, Engagement Quality Reviews, and SQMS No. 3, Amendments to QM Sections 10, A Firm’s System of Quality Management, and 20, Engagement Quality Reviews.
- Identify recent changes to the AICPA Code of Professional Conduct that affect auditors of governments and NFPs.
- Distinguish the provisions of the Government Auditing Standards 2024 Revision.
- Identify Yellow Book requirements related to independence, management’s responsibilities, and reporting.
- Identify changes to the Uniform Guidance.
Credit Info
CPE Credits
Online
8
NASBA Field of Study
Accounting (Governmental), Auditing (Governmental)
Level
Intermediate
Prerequisites
Knowledge of accouting and auditing in the government enviornment.
Access
Online
This is a digital product. With full paid access the content will be available to you for 1 year after purchase date.
Yellow Book Hours
8
For more information, please refer to CPE requirements and NASBA sponsorship information
Pricing
Do you have an AICPA or CIMA membership? Log in to apply your member discount.
Nonmembers
Online
$250.00
AICPA Members
Online
$200.00
CIMA Members
Online
$200.00
NFP Section Members
Online
$159.00
Group ordering for your team
2 to 5 registrants
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Author(s)
Rebecca Meyer
Rebecca Meyer, CPA, CGMA, is President of RAM CPA, PLLC located in Raleigh, NC and is a seasoned CPA and management accountant with more than 22 years of technical finance and leadership expertise in various aspects of attest, accounting and compliance services. Her firm specializes in collaborating with state and local governments, nonprofit organizations, small businesses, regulators, and other CPA firms to provide high quality audit, attest, accounting, finance, and compliance services.
Prior to forming her own firm, Ms. Meyer worked for eleven years as a Technical Manager in the AICPA's Professional Ethics Division, where she helped to enforce the AICPA's Code of Professional Conduct by investigating allegations of violations of technical accounting and attest standards, including U.S. Generally Accepted Accounting Principles ("GAAP"), Generally Accepted Auditing Standards ("GAAS"), Generally Accepted Government Auditing Standards ("GAGAS"), Uniform Guidance, ERISA and others. In this role, she assisted in remediation and education of members to improve the overall quality of professional services performed in the industry. Ms. Meyer specializes in government, nonprofit and Single Audit engagements.
Ms. Meyer is a member of the AICPA and the North Carolina Association of CPAs. She serves on the AICPA's Technical Standards Subcommittee as well as the Government Accounting and Auditing Committee and the Nonprofit Accounting and Auditing Committee of the North Carolina Association of CPAs.
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