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assess your riskGovernmental Accounting & Auditing ConferenceJune 5-6, 2008
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Exhibitors and Sponsors |
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• CCH, a Wolter's Kluwer business |
- Hotel Information
- Introductory Track
- Schedule at a Glance
- Registration Information
- 4 Easy Ways to Register
This conference provides timely information for CPAs who perform audits or provide management services for governmental entities, government managers responsible for these areas and non-profit accountants and auditors coping with new pronouncements and compliance.
Conference Highlights:
• GASB Update
• Introduction to Governmental Accounting & Reporting (Intro Track)
• Issues in Not-for-Profit Accounting & Auditing (Intro Track)
• Local Government Data Processing Accounting Software
• Single Audit – Trying to Get it Right
• Detecting Fraud in Schools
• Extreme Makeover - 2008 Form 990
• Pollution Remediation
• Local Government Corporation’s Software Features
• Audit Evidence
• Risk Based Audit Standards Sessions
Course Level: Update
TSBA Subject Code: A/E
CPE Credit: 16 hours
(1 hour state specific
ethics credit available)
CLE Credit: 13.4 hours
Note: This conference qualifies
for Yellow Book CPE credit.
| Registration Fees: | Before May 22: |
After May 22: |
| Member Discount Fee | $325 |
$355 |
| Conference Fee | $375 |
$405 |
Continuing Legal Education processing fee: $24
Hotel Information:
The room block for the Embassy Suites Nashville Airport has expired. Other hotels in the area are listed below. Please call TSCPA if you have any questions.
Doubletree Guest Suites, 2424 Atrium Way, 615/889-8889
Hilton Garden Inn Nashville Airport, 412 Royal Parkway, 615/884-0088
Hampton Inn & Suites Nashville-Airport, 583 Donelson Pike, 615/885-4242
Wingate By Wyndham - Nashville Airport, 800 Royal Parkway, 615/884-9777
Courtyard by Marriott Nashville Airport, 2508 Elm Hill Pike, 1-800/321-2211
Sheraton Music City, 777 McGavock Pike, 615/885-2200
Hampton Inn Nashville, 2350 Elm Hill Pike, 615/871-0222
Holiday Inn Select, 2220 Elm Hill Pike, 1-800/633-4427
Homewood Suites, 2640 Elm Hill Pike. 615/884-8111
Residence Inn Nashville Airport, 2300 Elm Hill Pike, 615/889-8600
Marriott Hotel, One Marriott Drive, 615/889-9300
Hotel Preston, 733 Briley Parkway, 615/361-5900
Introductory Track – Embassy Suites Nashville Airport
The 2008 Governmental Accounting & Auditing Conference includes an introductory track featuring two full-day seminars designed to expose new staff members or someone with no prior experience to the basic elements of governmental accounting and auditing. Introductory track attendees will have breaks and lunches at the same time as other conference attendees.
Thursday, June 5
8 - 8:05 a.m. — Opening Remarks
8:05 a.m. - 4:25 p.m.
1. Issues in Not-for-Profit Accounting
Fred M. Christensen, CPA, Partner, Leavitt, Christensen & Co. PLLC, Boise, Idaho
The IRS says that there are more than 1 million not-for-profit organizations in the United States. What makes not-for-profit organizations different? This course will help you explore those differences.
The course will help you understand the key accounting and reporting issues that practitioner’s face including available alternatives involved in applying FASB accounting standards. For example, how will the new fair value standards FASB Statements 157 and 159 impact your nonprofits?
Of course, the accounting and reporting differences also must be addressed by auditors. The new risk based audit standards 104-111, SAS 112 on internal controls and SAS 114 will also be discussed.
Whether you are new to the nonprofit world or just need a refresher, this standards based course will help you understand the challenges of this unique industry.
4:25 p.m. — Conference Adjourns
Friday, June 6
8 - 8:05 a.m. — Opening Remarks
8:05 a.m. - 4:25 p.m.
2. Introduction to Governmental Accounting & Reporting
G. Robert Smith Jr. PhD, CPA, CGFM, Dempsey, Vantrease & Follis Professor of Accounting, Department of Accounting, Middle Tennessee State University, Murfreesboro, Tenn.
Are you new to governmental accounting? Or, do you want a refresher because of all the recent changes? Then, this class is for YOU!
Topics for this day-long class include: the principles, various accounting entries in the funds, fund reporting, converting fund statements to government-wide statements, MD&A and other RSI and a quick look at the rest of the CAFR.
At the end of the class you will have better appreciation of the work that goes into the preparation of a CAFR in today’s governmental accounting and reporting environment. As a preparer, you will be better equipped to make sure your employees correctly assemble the annual report. As an auditor, you will be better prepared to audit these financial statements – you know, the ones your client has prepared before you show up for the audit!
4:25 p.m — Evaluations/Conference Adjourns
Schedule at a Glance – Willis Conference Center
Thursday, June 5
8 - 8:05 a.m. — Opening Remarks
8:05 - 9:45 a.m.
3. GASB Update
Wesley A. Galloway, Project Manager, Governmental Accounting Standards Board, Norwalk, Conn.
This session will get you current with the latest from the GASB. Topics include the forthcoming derivatives standard, pending changes to fund definitions and fund balance classifications, the new intangible assets reporting requirements and the latest OPEB implementation guidance.
9:45 - 10:05 a.m. — Networking Break & Exhibit Viewing
10:05 - 11:45 a.m.
4. Single Audit - Trying to Get it Right
Alicia M. Brunetti, MBA, CPA, Audit Manager, Brown Armstrong Accountancy Corporation, Bakersfield, Calif.
The long awaited national report on single audit was finally released June 2007. What did they learn and what must we do about it? We will answer these questions and provide realistic solutions to increase the quality of audits and documentation
11:45 a.m. - 12:45 p.m. — Lunch
12:45 - 2:25 p.m. — Concurrent Sessions (please select one):
Larry C. Howlett, CPA, President, Larry C. Howlett, CPA PLLC, Bowling Green, Ky.
In the Extreme Makeover ~ 2008 Form 990 session, one will take away with them the confidence to complete the NEW required Form 990, Return of Organization Exempt From Income Tax – core form and the new detailed schedules. Find out about the requirements of record keeping for organizations exempt under 501(c)(3). What is needed to be compliant?
6. Detecting Fraud in Schools
L. Rene Brison, CPA, CFE, Audit Manager, Division of Municipal Audit, Comptroller of the Treasury, State of Tennessee, Nashville, Tenn.
Did you know that some experts estimate 97 percent of individuals would commit fraud depending on their perceived need and opportunity? Because of the sheer number of school employees responsible for some aspect of financial transactions, including collections and disbursements, opportunities abound for fraudulent activity within schools. This session will explore some of the more common fraud schemes related to school activity, cafeteria and other internal funds, with examples from actual investigative audits of Tennessee schools. Attendees will be shown practical audit techniques to detect these schemes. Don’t miss this opportunity to sharpen your fraud detection skills!
7. Pollution Remediation
Wesley A. Galloway, Project Manager, Governmental Accounting Standards Board, Norwalk, Conn.
Did you know that GASB Statement 49, Pollution Remediation Obligations, requires most governments to measure their pollution remediation liabilities on Jan. 1 or July 1 of this year?
The GASB project manager in charge of Statement 49 will explain what governments should be doing now to implement the Statement. The session will cover real-world examples of pollution cleanups and how the new GASB recognition and measurement requirements apply.
2:25 - 2:45 p.m. — Networking Break & Exhibit Viewing
2:45 - 3:35 p.m. — Concurrent Sessions (please select one):
Bruce Collier, Executive Vice President, Local Government Corporation, Columbia, Tenn.
What in Local Government Corporation’s applications could I be using to make my audits more efficient? Local Government Corporation serves more than 1,000 governmental customers in Tennessee. This presentation will focus on features in LGC’s software applications being used by local governments throughout the State of Tennessee. It will include reports, how to export information and a brief presentation on one Local Government customer’s approach to SAS 70 compliance.
9. GASB 51: Intangible Asset Accounting and Reporting for Governments
G. Robert Smith Jr. PhD, CPA, CGFM, Dempsey, Vantrease & Follis Professor of Accounting, Department of Accounting, Middle Tennessee State University, Murfreesboro, Tenn.
By now you should know what an intangible asset is. But, how do you account for them in a government? Prior to GASB 51, there were no rules on accounting and reporting for this special class of capital assets.
Governments have always had intangible assets, they just didn’t report them that way. Common intangible assets include water rights, timber rights and easements. Less well-known examples include trademarks (particularly at colleges and universities) and computer software - which often falls into the category of internally-generated assets. The purpose of this session is to make you more familiar with this new and largely untested GASB standard and how to properly account for this important asset classification. Topics to be examined include: measurement focus, classification, recognition, specific amortization issues and special impairment indicators.
10. Standards for Tennessee CPAs: Important Ethical Concepts, Principles
and the Rules for CPAs in Tennessee
Mark. H. Crocker, CPA, Executive Director, Tennessee State Board of Accountancy, Nashville, Tenn.
You will receive a review of the accountancy laws and rules, as well as the state laws and regulations regarding licensing, continuing education, peer review, disciplinary procedures and more. This session will familiarize and update participants with the Tennessee Accountancy Act and the roles and responsibilities of the Tennessee State Board of Accountancy. This session satisfies the Tennessee-specific ethics requirement set forth by the Tennessee State Board of Accountancy for CPAs licensed in Tennessee.
3:35 - 3:45 p.m. — Change Break
3:45 - 4:35 p.m.
11. What Questions Do You Still Have?
L. Rene Brison, CPA, CFE, Audit Manager, Division of Municipal Audit, Comptroller of the Treasury, State of Tennessee, Nashville, Tenn., and Wesley A. Galloway, Project Manager, Governmental Accounting Standards Board, Norwalk, Conn.
Moderator: G. Robert Smith Jr. PhD, CPA, CGFM, Dempsey, Vantrease & Follis Professor of Accounting, Department of Accounting, Middle Tennessee State University, Murfreesboro, Tenn.
Speakers will answer any questions put before them. Come to this session prepared to ask questions and have any issues addressed.
4:35 p.m. — Conference Adjourns
Friday, June 6
8 - 8:05 a.m. — Opening Remarks
8:05 - 9:45 a.m.
12. Audit Evidence
J. Michael Inzina, CPA, CGFM, Audit Litigation,Training and Efficiency Consulting, Inc. (ALTEC), Monroe, La.
Recent audit failures have not been the result of insufficient auditing standards! Why do auditors sometimes fail to pursue the obvious? How do auditors’ belief systems affect audit evidence? What can auditors learn from the scientific method? Becoming a better auditor means learning to make better inquiries, apply professional skepticism and critical thinking to audit evidence obtained and recognize that anything is possible. Audit Evidence considers the question of why auditors sometimes fail to see what is later obvious, what auditors can do to prevent audit failure and the importance of evidential congruency.
9:45 - 10:05 a.m. — Networking Break & Exhibit Viewing
10:05 - 11:45 a.m. — Concurrent Sessions (please select one):
Gregory C. Ellison, CPA, Resident Partner, Banks, Finley, White & Co, College Park, Ga.
The Risk Assessment Standards are now a reality. These standards substantially change the way auditors must assess risks in performing audit engagements. This session will provide an overview of the eight new standards and practical approaches on how to implement them for governmental entities. Commonly used practice aids will be employed to demonstrate how to gather information and document movement through the risk assessment process – from identifying risks, to assessing risks, to developing an audit strategy and finally, to evaluating audit results. (Perspective: Public Accounting)
14. Risk-Based Auditing
J. Michael Inzina, CPA, CGFM, Audit Litigation, Training and Efficiency Consulting, Inc. (ALTEC), Monroe, La.
This session focuses on understanding and implementing risk-based auditing through application of professional judgment. It is especially designed to assist the practitioner who finds him or herself without a clear understanding of the standards and exactly what he or she needs to do. The session defines audit risk in terms of the elements of the risk model, addresses the nature of professional judgment, documentation requirements and modification of commercially available audit programs. (Perspective: Auditor)
15. This Changes Everything! (An Overview of the New Risk
Assessment Standards, SASs 104 through 111)
Jerry E. Durham, CPA, CGFM, CFE, Technical Manager, Comptroller of the Treasury, Division of County Audit, Nashville, Tenn.
The new Risk Assessment Standards will change the way you audit government entities. For most audit firms, implementation of the new standards will require changes to the audit approach, changes to audit programs (plans) and changes in documentation. The AICPA’s Audit Risk Alert states “you should not underestimate the standards’ significance and the far reaching effect they will have on your audits.” The objective of the Risk Assessment Standards can be summed up in one word – MORE. The primary objective of the SASs as stated in the Risk Alert “is to enhance your application of the audit risk model in practice by requiring, among other things:
• A more in-depth understanding of your client and its environment, including its internal control,
• A more rigorous assessment of the risk of material misstatement of the financial statements based on that understanding and
• Improved linkage between the assessed risks and the nature, timing, and extent of audit procedures performed in response to those risks.”
Auditors must understand the requirements of SASs 104 through 111 to achieve these objectives. This session will provide an overview of each of the eight new standards. In addition, this session will provide participants with some practical ideas for implementing the new standards.
One cannot read the new standards without concluding that the “bar” has been raised for all of us who audit governments. This session is designed to help auditors to locate the “bar” and get over it. (Perspective: County Audit)
11:45 a.m. - 12:45 p.m. — Lunch
12:45 - 2:25 p.m. — Concurrent Sessions (please select one):
10:05 a.m. session)
Gregory C. Ellison, CPA, Resident Partner, Banks, Finley, White & Co, College Park, Ga.
17. Risk-Based Auditing (continued from 10:05 a.m. session)
J. Michael Inzina, CPA, CGFM, Audit Litigation,Training and Efficiency Consulting, Inc. (ALTEC), Monroe, La.
18. This Changes Everything! (continued from 10:05 a.m. session)
Jerry E. Durham, CPA, CGFM, CFE, Technical Manager, Comptroller of the Treasury, Division of County Audit, Nashville, Tenn.
2:25 - 2:45 p.m. — Networking Break & Exhibit Viewing
2:45 - 4:25 p.m.
19. It’s Your Turn
J. Michael Inzina, Gregory C. Ellison and Jerry E. Durham
Here’s an opportunity to ask questions. Mike, Greg and Jerry will participate in this panel and address your questions and issues.
4:25 p.m. — Evaluations/Conference Adjourns
Registration Information
Enroll right away because space is limited. Register by May 21 to pay the discounted registration fee. Registrations must be received seven days prior to the event in order to guarantee a seat and course materials.
Cancellations, Substitutions and Transfers: Cancellations received by May 28 will be assessed a $30 administrative fee. Cancellations received between May 29 and June 4 will be subject to a cancellation fee of 50 percent of the full program fee. No refunds are given on or after the date of the program. A $30 administrative fee will be assessed for all substitutions and transfers. Registrants may substitute another individual or transfer to another course up to the day before the conference. TSCPA must be notified in advance to ensure proper CPE credit.
CLE Credit: The Tennessee Society of CPAs has been granted accredited sponsor status for this conference. Please include $24 in addition to the regular conference fee to cover administration of CLE credit.
TSCPA provides you with a Proof of Attendance that serves as your permanent record of participation. Approximately two weeks after the conference, proof of attendance will be e-mailed to you indicating your CPE credit hours, program title and TSBA Subject Code.
Conference Fee Includes: sessions, conference materials, continental breakfast, lunch and refreshment breaks.
Suggested Dress: business casual.
If you have special needs under the Americans with Disabilities Act, please attach a written description or call the society office at 615/377-3825 or 1-800/762-0272.
4 Easy Ways to Register
By Internet
To register online, please click here.
By Fax
615/309-8054 or 615/377-3904
By Mail
Mail completed registration form and payment to:
Educational & Memorial Foundation of TSCPA
201 Powell Place, Brentwood, TN 37027
By Phone
1-800/762-0272 or 615/377-3825
This conference is presented by The Educational & Memorial Foundation of the Tennessee Society of Certified Public Accountants and the TSCPA Governmental Committee.
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© Tennessee Society of Certified Public Accountants |
