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Preparers of governmental and nonprofit financial statements and their auditors often seek advice from the AICPA’s Technical Hotline as well as from the GASB Technical Inquiry System. The advice they receive from these sources is high-quality and non-authoritative but offers viable solutions or reasonable alternatives for accounting and auditing issues related to governmental and nonprofit organizations. The objective of this course is to enhance participants’ knowledge and application of professional judgment by providing a review of the top accounting and auditing issues faced by preparers of governmental and nonprofit financial statements and their auditors based on calls and inquiries received by both the AICPA and GASB over the past year.
• Understand current accounting issues facing governmental and nonprofit organizations
• Recognize audit challenges related to newly effective GASB standards
• Properly reflect accounting transactions resulting from recent GASB pronouncements
• Focus on the audit issues related to new and existing GASB standards
Prerequisite: Experience in governmental accounting and auditing