Auditing State and Local Governments ON DEMAND
Available Until
Your Desk
3.0 Credits
Member Price $58.00
Non-Member Price $67.00
Overview
Government entities present significant auditing challenges, since they may operate a multitude of funds, deal with grant funding, and account for significant infrastructure assets. In this audit CPE course, we examine how the auditor can navigate these challenges by delving into government controls and using targeted audit procedures. This auditing CPE give special attention to component units, fund classifications, interfund activity, and the government budget.
Highlights
Areas of audit interest. Audit planning. Understanding audit risk. Understanding government entity controls. Materiality. Audit procedures specific to state and local governments. Writing representations.
Prerequisites
None.
Designed For
Auditors, CPAs, CFPs, CEOs, and other accounting professionals.
Objectives
Recognize why an audit strategy is needed, and what it controls. Identify the issues associated with the environment in which a government operates. Specify the risk assessment steps associated with the audit of a government entity. Recognize when a government’s internal audit function can be used by the auditor. Identify the budget controls that a government entity might use. Specify the controls that a government entity might use over financial reporting. Recognize when a misstatement is considered to be material. Identify the actions that can be taken to reduce detection risk. Specify the events or conditions that indicate the presence of a risk of material misstatement. Identify the areas in which an auditor may choose to hire a specialist when auditing a government entity. Specify who is responsible for fraud prevention and detection.
Preparation
None.
Notice
None.
Leader(s):
Leader Bios
Steven Bragg, Western CPE
Steven M. Bragg, CPA, is a full-time book and course author who has written more than 70 business books. He provides Western CPE with self-study courses in the areas of accounting and finance, with an emphasis on the practical application of accounting standards and management techniques. A sampling of his courses include the The New Controller Guidebook, The GAAP Guidebook, Accountants’ Guidebook, and Closing the Books: An Accountant’s Guide. He also manages the Accounting Best Practices podcast.
Steven has been the CFO or controller of both public and private companies and has been a consulting manager with Ernst & Young and an auditor with Deloitte & Touche. He holds an MBA from Babson College, a Master of Finance from Bentley College, and a BA from the University of Maine (summa cum laude).
Non-Member Price $67.00
Member Price $58.00