Agenda

GENERAL SESSION

LAUNCH GENERAL SESSION
8:30 AM – 9:20 AM
KEYNOTE PRESENTATION: A Word From the GASB…
Many state and local governments are still working to implement recent guidance set forth by the Governmental Accounting Standards Board (GASB), including those regarding subscription-based information technology arrangements and leases. The GASB shares insights on implementation best practices and provides an update on other projects now underway.
Deborah Beams, CPA – Supervising Project Manager, GASB, Norwalk, CT
Credits: 1.0 AA

9:30 AM – 10:20 AM
KEYNOTE PRESENTATION: Exploring the A-B-C-D of the Digital Age and their Impact on Accounting
This session will start with a quick look at how Artificial intelligence, Blockchain, Cybersecurity, and Data governance are impacting the accounting ecosystem supporting transaction recordation and financial reporting. Then we’ll dive deeper into how to identify opportunities for automation, whether with traditional programming, robotic process automation (RPA), or machine learning. We’ll close out with a look at how the role of the finance team leader will change and the skills needed to be successful in the near future.
Donny C. Shimamoto, CPA, CITP, CGMA – Founder and Managing Director, IntrapriseTechKnowlogies LLC., Honolulu, HI
Credits: 1.0 AA

LAUNCH CHANNEL ONE

CHANNEL ONE

10:30 AM – 11:20 AM
An Imperfect World: Accounting Changes & Error Corrections
We live in an imperfect world with estimates and expectations changing from moment to moment. So, you make a mistake – don’t correct it incorrectly. The GASB has a new standard on financial reporting, disclosures and supplementary information for accounting changes and error corrections and they’ll share best practices for addressing errors with it.
Emily Paul – Supervising Project Manager, GASB, Norwalk, CT
Credits: 1.0 AA

11:30 AM – 12:20 PM
An Abundance of Relief: Auditing Coronavirus State and Local Fiscal Recovery Funds
While some small governments were granted relief from single audit requirements after receiving CSLFRF, even those entities are subject to an alternative engagement under AICPA attestation standards and Government Auditing Standards. Find out what entities need to do after receiving large amounts of funds, how to meet the requirements of the audit and which pitfalls and traps to avoid when it comes to auditing CSLFRF.
Michael Rolka, CPA – Audit Manager, Yeo & Yeo, Auburn Hills
Credits: 1.0 AA

1:10 PM – 2:00 PM
The Keys to Budgeting in Uncertain Conditions
Political, economic, technological and other kinds of uncertainty are commonplace in the realm of public finance. While considered a best practice, long-term financial planning in a governmental unit requires strategic planning that includes considerations for volatility and constrained resources. Explore a more responsive model that adapts to changing conditions using continuous reviews and modification.
Christopher Harkins – State Budget Director, State of Michigan Budget Office, Lansing
Credits: 1.0 AA

2:10 PM – 3:00 PM
An Abundance of Relief: Auditing Coronavirus State and Local Fiscal Recovery Funds (Second Offering)
While some small governments were granted relief from single audit requirements after receiving CSLFRF, even those entities are subject to an alternative engagement under AICPA attestation standards and Government Auditing Standards. Find out what entities need to do after receiving large amounts of funds, how to meet the requirements of the audit and which pitfalls and traps to avoid when it comes to auditing CSLFRF.
Michael Rolka, CPA – Audit Manager, Yeo & Yeo, Auburn Hills
Credits: 1.0 AA

3:10 PM – 4:00 PM
The Truth About Fraud in Governments
While the expectation of an audit might be seen as a means by which to detect fraud, the reality is that audits can help to prevent fraud, but they cannot and should not be relied upon to detect it. This is because independent audits rely on an entity’s representations about its own financial position, and so preventing fraud within a given entity comes down governance. Investigate the roles of internal control and segregation of duty in preventing governmental fraud and identity the areas in which entities may be most at risk.
Bethany Verble, CPA, CFE – Manager, Maner Costerisan P.C., Lansing
Credits: 1.0 AA

4:10 PM – 5:00 PM
The Truth About Fraud in Governments (Second Offering)
While the expectation of an audit might be seen as a means by which to detect fraud, the reality is that audits can help to prevent fraud, but they cannot and should not be relied upon to detect it. This is because independent audits rely on an entity’s representations about its own financial position, and so preventing fraud within a given entity comes down governance. Investigate the roles of internal control and segregation of duty in preventing governmental fraud and identity the areas in which entities may be most at risk.
Bethany Verble, CPA, CFE – Manager, Maner Costerisan P.C., Lansing
Credits: 1.0 AA

LAUNCH CHANNEL TWO

CHANNEL TWO

10:30 AM – 11:20 AM
Risk Assessments in Governmental Units
Risk, how much time we devote to identifying, assessing, evaluating and responding to it. Overview the governmental unit risk assessment process, apply auditing standards as part of planning, assess the adequacy of controls with a focus on achieving results in every firm environment (even small firms).
Josh Yde, CPA – Audit Senior Manager, Plante Moran, Ann Arbor
Credits: 1.0 AA

11:30 AM – 12:20 PM
Different Folks Have Different Strokes of Risk
Not all types of governmental entities can be assessed for risk with the same approach since each unit: villages, townships and cities all have unique attributes. Discuss the key differences between entity types and the risk implications of each while applying the concepts of risk assessments with hands-on case studies.
Wendy Thompson, CPA – Training Manager, Yeo & Yeo, Midland
Credits: 1.0 AA

1:10 PM – 2:00 PM
Common Single Audit Findings & Preventing Them
If you’re performing Single Audits, you can utilize the wisdom of those who have come before you and their findings to plan accordingly. We help you review safeguards, sampling, appropriately gauge skills, knowledge and experience, review the 2022 EAQ areas of focus and more.
Peggy Jury, CPA, CGMA – Peer Review CPA on Staff, Michigan Association of CPAs, Troy
Credits: 1.0 AA

2:10 PM – 3:00 PM
Not Your Grandma’s Yellow (Book) Pages
The time has come to open your Yellow Book and make some changes, starting with technical updates issued for 2021. Plus, get the latest on non-attest services, maintaining independence and how to assess the five Es: effectiveness, efficiency, economy, ethics, and equity in performance audits.
Melisa F. Galasso, CPA, CGMA – Owner, Galasso Learning Solutions LLC, Charlotte, NC
Credits: 1.0 AA

3:10 PM – 4:00 PM
The Single Audit Venture
Building a single audit is a cooperative effort between government entities and the CPAs and accounting professionals that serve them. Ensure the success of this ‘joint venture’ with an in-depth update on the latest applicable AICPA practice aids, compliance supplements and fresh alerts from the Governmental Audit Quality Center (GAQC).
Marlene Beach, CPA, CFE, CVA – Principal, UHY LLP, Farmington Hills
Credits: 1.0 AA

4:10 PM – 5:00 PM
Ethical Considerations in Record Retention: Should I Keep or Should I Throw?
Requirements surrounding record retention continue to leave many practitioners confused. What documents must you keep, how long must you keep them and which can you destroy? Discuss why it is important to understand the requirements and the potential impact it can have on both the governmental unit and the CPA firm.
Raymond T. Rowe, JD – Attorney, Raymond T. Rowe, PC, Troy
Credits: 1.0 ET

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