36th Annual Government Auditing Training Seminars 2017 Tennessee Training

Transcription

1 36th Annual Government Auditing Training Seminars 2017 Tennessee Training APRIL-MAY 2017 Sponsored by National Association of State Auditors, Comptrollers and Treasurers and Tennessee Comptroller of the Treasury, Department of Audit

2 February 2017 STATE OF TENNESSEE COMPTROLLER OF THE TREASURY DEPARTMENT OF AUDIT SUITE 1500 JAMES K. POLK STATE OFFICE BUILDING NASHVILLE, TENNESSEE PHONE (615) Fellow CPAs and Colleagues: Each year brings unique challenges and opportunities for the auditing and accounting profession will be no exception. As in the past, we are pleased to bring you the Tennessee Training Seminars, which are designed to provide continuing professional education to keep you up-to-date on the latest standards, technologies and best practices. This will be the thirty-sixth year for these annual seminars, a testament to their value for accounting professionals across the state. We hope you will be able to join us! This year's training agenda will include a variety of topics of relevance to your professional endeavors: A review of emerging issues in governmental accounting and auditing, including developments from Congress, the U.S. Government Accountability Office and the U.S. Office of Management and Budget. An update on what s new in Tennessee, including a look at select issues from the GASB, Auditing Standards Board, GAO and OMB that relate specifically to the operations of Tennessee local governments and their auditors. Case studies of fraud, waste and abuse. An overview of state-specific ethics laws and rules. Recent GASB exposure drafts including the one on tax abatement and the OPEB statements. Implementation issues with the Uniform Guidance. An update on changes to the American Institute of Certified Public Accountants Statements on Standards for Accounting and Review Services and attestation standards. The new Yellow Book exposure draft. Frank Crawford, president of Crawford & Associates, will be this year's primary speaker. Frank brings a wealth of practical experience to his seminars, and we are very pleased to have him back this year. Joining him will be Chris Pembrook, senior manager at Crawford & Associates. The two-day seminars will also feature speakers from the Tennessee Department of Audit, including Jerry Durham and Kevin Huffman, as well as Britt Wood who will present a session on Tennessee-specific ethics laws. Also included on the program is Kinney Poynter, executive director of the National Association of State Auditors, Comptrollers and Treasurers. Preparing you to efficiently and effectively perform audits of governmental entities is our goal. We hope you will join us for information-sharing, networking and continued learning at the 2017 Government Auditing Training Seminars. Sincerely, Deborah V. Loveless Director, Division of State Audit James R. Arnette, Jr. Director, Division of Local Government Audit

3 G E N E R A L I N F O & R E G I S T R A T I O N WHEN WILL THE TRAINING BE OFFERED? HOW TO REGISTER April 27-28, Chattanooga, Tennessee University of Tennessee Chattanooga University Center (Chattanooga Room) May 1-2, Nashville, Tennessee One Century Place Conference Center (Amphitheater) May 8-9, Morristown, Tennessee Walters State Community College - Student Services Building (International Lyceum Auditorium) May 11-12, Jackson, Tennessee DoubleTree Hotel (Andrew Jackson Ballroom) REGISTRATION FEE & WHAT S INCLUDED $345 per person. This fee includes: 2 continental breakfasts and 2 lunches Session materials Up to 16 credits of Government Auditing Standards CPE Cancellations and Refunds: Refunds will be given for cancellations, minus a $25 cancellation fee. All fees must be paid prior to attending any session. Register today at If you attended last year, you already have a profile in our system. If you have forgotten your password, click the forgot password button at Each attendee will be required to register separately. HANDOUTS / SESSION MATERIALS This year the session manual will be optional- you can request a hard copy or download the pdf and view the materials on your ipad, tablet or computer. Please indicate at registration if you will require a hard copy manual. QUESTIONS & MORE INFORMATION Do you have questions? Call our office at (859) and reference the Tennessee Training Seminars. NOTE: Participants should make their own arrangements for lodging. No location changes are allowed within ten days of any session. CONTINUING PROFESSIONAL EDUCATION Learning Objectives: At the conclusion of this training, participants will: Be aware of recent developments from the OMB, GAO and Congress. Know how to determine, detect and defend against fraud. Understand ethics laws and rules specific to Tennessee. Understand changes to the audit standards issued by the AICPA and the GAO. Be aware of recently implemented standards from the GASB and understand common implementation issues. Level of Knowledge: Overview Education or Experience Prerequisite: General understanding of governmental accounting and auditing standards. Advance Preparation and Prerequisites: No advance preparation required. CPE: 16 credits have been recommended for the event (15 sponsored by NASACT, 1 by the Tennessee Society of CPAs). Attendance Requirements: To obtain full credit for this event, attendees must submit attendance verification codes as provided during the sessions. Delivery Method: Group-Live. All sessions include Q&A. The National Association of State Auditors, Comptrollers and Treasurers is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website:

4 T R A I N I N G S C H E D U L E DAY ONE 8:00 8:30 A.M. CONTINENTAL BREAKFAST (provided) 8:30 8:35 A.M. WELCOMING REMARKS R. Kinney Poynter, CPA, Executive Director, NASACT 8:35 9:25 A.M. EMERGING ISSUES IN GOVERNMENT ACCOUNTING AND AUDITING Like many in the past, this year is shaping up to be another year of change. This session will provide an overview of recent economic, industry, regulatory, and professional developments that impact auditors of state and local governments. Included in this session will be developments from Congress, the U.S. Office of Management and Budget, the Government Accountability Office, and other regulatory bodies. R. Kinney Poynter, CPA, Executive Director, NASACT 9:25 10:15 A.M. TENNESSEE SPECIFIC ACCOUNTING AND AUDITING ISSUES The accounting and auditing profession has changed drastically since the establishment of GASB over three decades ago. Thankfully, not every GASB pronouncement has a material effect on local governments. This session is designed to explore accounting and auditing changes that have recently occurred from the perspective of the Office of Comptroller of the Treasury, Division of Local Government Audit. Selected issues from GASB pronouncements, the ASB, GAO and OMB, which relate specifically to the operation of Tennessee local governments and their auditors, will be discussed. Some issues include: ongoing pension implementation issues, implementing GASB 77, Single Audit issues, and new state statutes. Tennessee local government officials and their auditors should benefit from this session. Jerry E. Durham, CPA, CGFM, CFE, Assistant Director, Division of Local Government Audit, Tennessee Department of Audit 10:30 11:20 A.M. A FRAUD ANTHOLOGY FRAUD TRENDS AND COMMON SENSE PREVENTIONS This session describes current trends in fraud, illustrates the types and causes of fraud the Division of Investigation is seeing in Tennessee, and discusses several common sense internal controls for auditors/finance officers to recommend to entities that will minimize risk. Kevin B. Huffman, CPA, CGFM, CFE, Deputy Chief Investigator, Division of Investigation, Tennessee Comptroller of the Treasury 11:20 A.M. 12:10 P.M. STANDARDS FOR TENNESSEE CPAS: STATE-SPECIFIC ETHICS CPE credit for this session will be sponsored by the Tennessee Society of CPAs This course is designed to expand your knowledge and understanding so that you will know what to do when faced with ethical issues. It is designed to help answer some of those tough ethical challenges; to help you know where to turn; whom to consult and what resources are available; and what should be your next step when faced with an ethical dilemma. Britt Wood, CPA, CFE, CGFM, CISA, ACDA, Legislative Audit Application Architect, Division of Local Government Audit, Tennessee Comptroller of the Treasury 12:10 1:00 P.M. LUNCH (provided) 1:00 3:45 P.M. GASB UPDATE: THE HIT PARADE CONTINUES TO ROLL Field of Study: Accounting (Governmental) Eleven statements, four exposure drafts and one large financial reporting model project are currently lined up and ready to march into play. While these statements and exposure drafts have varying effective dates, they are all relatively effective soon. While we will carve out the tax abatement statement and the OPEB statements for a closer look in other sessions, we will cover statements 73, 78-83, all four exposure drafts in detail, and take a closer look at pending decisions about the future of a new reporting model in this session. 3:45 4:35 P.M. TAX ABATEMENTS AND YOU (OR MORE SPECIFICALLY, YOUR GOVERNMENT) Field of Study: Accounting (Governmental) GASB 77 debuts this year with the potential to shed light on a set of possibly significant transactions that perhaps have avoided a lot of transparency up until now. Applicable this fiscal year, this statement has the potential to bring a significant amount of transparency to tax abatement transactions both created by your governments and abatement deals made by other governments.

5 DAY TWO 8:00 8:35 A.M. CONTINENTAL BREAKFAST (provided) 8:35 9:25 A.M. OH NO, IT S OPEB! Field of Study: Accounting (Governmental) The wait is nearly over. For those with OPEB trust funds, GASB 74 is applicable this year. For the employer side (GASB 75), we catch a break for one more year before implementation strikes hard at most Statements of Net Position. This session will take a closer look at the OPEB standards, with a more in-depth look at what the employer and the employer s auditors need to start preparing for now. 9:25 11:20 A.M. COOKING THE BOOKS: CASE STUDIES OF STATE AND LOCAL GOVERNMENT FRAUDS Fraud is one of those topics that typically teaches itself due to everybody s familiarity or experiences with it. This session will take a look at some recent statistics about fraud in the governmental arena put out by the Association of Certified Fraud Examiners (ACFE), while also taking a closer look at actual examples and case studies of fraud in state and local governments. 1:00 1:50 P.M. IMPLEMENTATION ISSUES WITH UNIFORM GUIDANCE (Cont) 1:50 2:40 P.M. AICPA UPDATE: SSARS AND ATTESTATION TAKE CENTERSTAGE Are you aware of relatively recent changes to the AICPA s Statements on Standards for Accounting and Review Services (SSARS) and attestation standards? This session will provide an update regarding many of the recent changes to compilations, reviews, preparation services and attestation engagements. 2:55 4:35 P.M. THE NEW YELLOW BOOK EXPOSURE DRAFT The GAO has released a new exposure draft pertaining to Government Auditing Standards. This session will take a look at the new exposure to see which GAO standards are under consideration for modifications, along with a look at any new requirements being put forth. 11:20 A.M. 12:10 P.M. IMPLEMENTATION ISSUES WITH UNIFORM GUIDANCE It s the second time around for Uniform Guidance. We are beginning to see and hear that the implementation of the Uniform Guidance wasn t so Uniform. This session will take a look at the early returns of the efforts and results of implementation of the UG in year one. 12:10 1:00 P.M. LUNCH (provided)

6 The National Association of State Auditors, Comptrollers and Treasurers is an organization for state officials responsible for the financial management of state government. Headquarters Office 449 Lewis Hargett Circle, Suite 290 Lexington, KY P (859) , F (859) Washington Office The Hall of the States 444 N. Capitol Street, NW, Suite 234 Washington, DC P (202) , F (202)