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DESIGNED FOR
CPAs; financial executives in federal, state, or local governments; public practitioners with government clients; and regulators who need to be aware of emerging developments.
This conference qualifies for Yellow Book credits.
BENEFITS
Federal, state and local governments are frequently confronted with fiscal challenges that need to be addressed quickly and accurately. Staying up-to-date and informed on these important issues is critical in understanding how they will affect governmental entities and their auditors. Attend this full-day conference and explore this year’s changes and developments with leading experts who will provide the strategies and solutions that will lead you to success.
HIGHLIGHTS
Agenda
7:45-815am
Registration and Continental Breakfast
8:15-8:30am
Opening Remarks
Robert W. Swisher, CPA – Suplee, Clooney & Company
8:30-9:20am
Division of Local Government Services Update
Gerald Seneski, CPA, RMA – NJ Department of Community Affairs
The Division of Local Government Services has been reviewing work processes to determine how to use current technology for efficiency gains while increasing transparency to its constituents. Digital versions of the Municipal Budget and Annual Financial Statement forms have been developed and are in the vetting process. This session will provide a preview of the new forms that incorporate the user-friendly budget requirements, facilitate website accessibility with possible report query functionality, and will lead to an efficient transmittal and review process.
9:20-10:10am
GASB Update and a Look to the Future
Scott A. Reeser – Governmental Accounting Standards Board
This session will review the pronouncements that will become effective for reporting governmental financial statements in the near future. Additionally, discuss some of the current projects on GASB’s technical and research agendas.
10:10-10:20
Morning Break
10:20-11:10am
Developments in Single Audits
Kimberly Hancy, CPA – Ernst & Young LLP
Single audits are an important accountability mechanism for the expenditure of federal funds. However, they can also be complex engagements and have been prone to audit quality issues. This session is intended to provide auditors with the latest news and information, including changes to federal grant policies and single audits, updates with the Government Auditing Standards, proposed revisions to Circular A-133 and the new Compliance Supplement.
11:10am-12:00pm
Update From Trenton on the Budget, Government and Politics
Speaker TBA
A senior-level governmental affairs professional from Princeton Public Affairs, the largest state lobbying firm in the country, will address some of the timeliest issues facing New Jersey. Gain insight into how issues at the local and state level will impact you and your audit clients.
12:00-1:00pm
Lunch
1:00-2:40pm
Fraud Detection and Prevention: The Auditor’s Responsibility
William I. Eskin, CPA – WIE, Inc.
We are all aware that fraud impacts our society. But what some of us may not realize is the pervasiveness of this problem. Fraud against the government is a serious crime, and is generally pursued to the fullest extent of the law. In this session, we will explore the common types of fraud that occur in not-for-profit organizations and governments and address the auditor’s responsibility related to fraud and prevention. We will discuss the many issues surrounding fraud with a particular emphasis on its impact on everyone attending today's session.
2:40-2:55pm
Afternoon Break
2:55-4:35pm
The Clarity Project
John F. Dailey Jr., CPA, RMA, PSA – Bowman & Company LLP
The Accounting Standards Board (ASB) has recently completed the Clarity Project to improve Generally Accepted Auditing Standards (GAAS) understandability, address concerns over length and complexity of audit regulations, and enhance audit quality. The Clarity Project became effective for audits of financial statements for periods ended after December 15, 2012. This session will review all substantive, clarifying and formatting changes relative to the Project, with emphasis on how these changes affect audits of New Jersey governmental entities.
COURSE LEVEL
Basic