Governmental Accounting and Auditing Update (2008–2009 Edition)

• Chapter 0 - The Report on National Single Audit Sampling Project
  • Misreporting of Audit Coverage of Major Federal Programs
  • Unreported Audit Findings
  • Compliance Testing Not Documented as Performed or Not Applicable
  • Deficiencies in Understanding\Testing Compliance Internal Controls
  • Deficiencies in Risk Assessments as Part of Major Program Determination
  • Missing Audit Finding Information
  • Deficiencies in Presentation and Auditing of the SEFA
  • Errors in Management Representations Related to Federal Awards
  • Audit Materiality at the Major Federal Program Level Not Documented
  • Other Kinds of Deficiencies
  • A Discussion Related to Audit Sampling
  • Proposed Recommendations to Improve Audit Quality
  • Moving Forward
• Chapter 1 - Federal Government Activities
  • Learning Objectives
  • Introduction
  • National Single Audit Sampling Project Responses
    • Responses to the National Single Audit Sampling Project
    • Federal Audit Clearinghouse Activities
    • The Role of the Federal Audit Clearinghouse
    • The Data Collection Form
    • Data Collection Forms in Use
    • The 2008 Data Collection Form and Important Changes
    • Data Collection Form Submission Problems
    • Federal Audit Clearinghouse Contact Information
  • HUD Developments
    • HUD Consolidated Audit Guide for Audits of HUD Programs
    • HUD Proposes an Independent Public Accountant Roster
  • Desk Reviews and Quality Control Reviews
    • What are Desk Reviews and Quality Control Reviews (QCRs)?
    • Tools to Avoid Single Audit Quality Problems
  • Revisions to the OMB Compliance Supplement for Single Audits
    • The 2008 Compliance Supplement
  • The 2007 Revised Yellow Book
    • Revised Yellow Book Issued
    • Potential Future Yellow Book Projects
  • Yellow Book CPE Requirements
  • SAS No. 112 and Single Audits
    • A Different Perspective
  • Other AICPA Guidance
    • AICPA Governmental Audit Quality Center
    • 2008 Edition of the AICPA Audit Guide
  • Summary
  • Questions
  • Exercise 1-1
  • Exercise 1-2
• Chapter 2 - GASB Activities
  • Learning Objectives
  • Introduction
  • GASB No. 43, Financial Reporting for Postemployment Benefit Plans Other Than Pension Plans
    • Effective Date
  • GASB No. 45, Accounting and Financial Reporting by Employers for Postemployment Benefits Other Than Pensions
    • Summary of Standard
    • Effective Dates and Transition
    • Implementation Guidance for GASB No. 43 and No. 45
  • GASB No. 48, Sales and Pledges of Receivables and Future Revenues and Intra-Entity Transfers of Assets and Future Revenues
    • Effective Date
    • Implementation Guidance for GASB No. 48
  • GASB No. 49, Accounting and Financial Reporting for Pollution Remediation Obligations
    • Effective Date
  • GASB No. 50, Pension Disclosures - an amendment of GASB No. 25 and No. 27
    • Effective Date
  • GASB No. 51, Accounting and Financial Reporting for Intangible Assets
    • Effective Date
  • GASB No. 52, Land and Other Real Estate Held as Investments by Endowments
    • Effective Date
  • GASB Concepts Statement No. 4, Elements of Financial Statements
    • About Concepts Statements
  • Other GASB Developments
    • Project Related to Derivative Instruments
    • Project Related to Fund Balance Reporting and Governmental Fund Type Definitions
    • Project Related to Service Efforts and Accomplishments Reporting
    • On the Horizon
  • Summary
  • Questions
• Chapter 3 - AICPA Activities
  • Learning Objectives
  • Introduction
  • Implementation of the Risk Assessment SASs
    • Where are we now?
    • Developed in Concert
    • Synopsis of the Risk Assessment Standards
    • Implementation Tools Available
    • Responding to Questions about the Risk Assessment Standards
  • Other AICPA Technical Activities
    • Major ASB Projects under Consideration
    • GAAP Hierarchy Project
  • Miscellaneous AICPA Activities
    • Improvements to the AICPA Technical Hotline
    • New Tool for Not-for-Profit Professionals
  • Review of Key Documentation Dates in SAS No. 103
  • Summary
  • Exercise 3-1
    • Assessing Control Deficiencies When Compensating Controls Exist
  • Appendix 3A
    • What the Risk Assessment Standards Changed
    • SAS No. 104
    • SAS No. 105
    • SAS No. 106
    • SAS No. 107
    • SAS No. 108
    • SAS No. 109 and SAS No. 110
    • SAS No. 111
    • The Audit Risk Model
• Chapter 4 - Ethics Focus: Accounting and Auditing
  • Ethics Overview
  • Recent Developments
  • Spotlight on Independence
  • Key Ethical Dilemmas
  • Addressing Ethical Dilemmas
  • Available Resources
• Chapter 5 - Latest Developments
• Appendix A - Data Collection Form
• Appendix B - Compliance Supplement Excerpts
• Appendix C - GAO CPE Guidance
• Appendix D - Illustrative Reports
• Appendix E - 2007 Yellow Book
• Appendix F - National Single Audit Sampling Project
• Appendix G - OMB Guidance Related to SAS No. 112
• Appendix H - Organizations Issuing Government and Nonprofit-Related Publications
• Appendix I - Bonus Materials

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