2018 COURSE CATALOG
Fee Schedule

 A Practical Approach to Audit Documentation
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Description:  An overview of the requirements of AU-C Section 230, Audit Documentation, includes a review of every reference to documentation throughout the auditing standards.

Topics covered include documentation of:

  • The understanding of the entity and its environment

  • The understanding of internal control

  • Inquiries of management and others

  • The assessment of the risk of material misstatement

  • Analytical procedures - preliminary, substantive and final

  • Substantive tests of significant audit areas - assets, liabilities, revenues and expenses

  • Wrap-up procedures

Also included is a section on being litigation-conscious - keeping potentially damaging information out of the documentation. Includes practice aids.

Experience/Prerequisites:  Minimum to advanced level of auditing experience.

Who should attend:  Professional staff with responsibility for performing audits of all entities.

Recommended CPE credit:  8 hours

Acronym: - APDOC

 A Government Auditing Standards 2017
(Exposure Draft)
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Description:  The U.S. Government Accountability Office has issued an exposure draft of Government Auditing Standards, otherwise known as “the Yellow Book.” The GAO standards apply in addition to those of the AICPA when required by law, regulation or contract to those who perform audits of governments, nonprofits or other organizations.  This course is designed to fulfill the GAGAS Qualification Requirement.  It does not address performance audits.

 Specific topics covered:

  • Introduction
  • Foundation and ethical principles
  • General requirements for complying with Government Auditing Standards
  • Ethics, independence and professional judgment
  • Competence and continuing professional education
  • Quality control and peer review
  • Standards for financial audits
  • Standards for attestation engagements and reviews of financial statements

Experience/Prerequisites:  Minimum to intermediate level of auditing experience.

Who should attend:  Professional staff with responsibility for performing audit engagements under GAO standards.

Recommended CPE credit:  8 hours

Acronym: - GAS17

Common Blunders in Audits
of Governmental Entities
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Description:  This course addresses the most common mistakes auditors make when auditing governmental entities, and provides solutions to avoid similar problems in the areas such as :

  • Defining the financial reporting entity
  • Addressing independence issues
  • Understanding the entity and its environment
  • Obtaining and documenting the understanding of internal controls
  • Risk assessment and response
  • Representations letters
  • Group audit engagement matters

Experience/Prerequisites:  Minimum to advanced level.

Who should attend:  Partners and managers responsible for planning and supervision of engagements, as well as staff persons conducting those engagements.

Recommended CPE credit:  8 hours

Acronym: CBAG

Common Causes of Audit Failures
(and How to Avoid Them)
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Description:  This course addresses the most common causes of audit failure, and offers practical advice on avoiding them, with specific attention to the following areas:

  • Acceptance/continuance
  • Understanding the entity and its environment
  • Understanding internal controls
  • Sufficient appropriate evidence
  • Training and supervision
  • Due professional care
  • Use of a specialist
  • Accounting and auditing standards
  • Going concern
  • Related parties

Experience/Prerequisites:  Minimum to advanced level.

Who should attend:  Partners and managers responsible for planning and supervision of engagements, as well as staff persons conducting those engagements.

Recommended CPE credit:  8 hours

Acronym: CCAF

How Smaller Entities Can Establish Adequate Internal Controls
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Description:  Smaller entities frequently present difficult issues when attempting to establish internal controls, including inadequate segregation of duties, lack of formal documentation and poorly trained staff.  Does this mean adequate internal controls are not possible?  This course explores the use of compensating controls and other tools that organizations can use to make internal controls work for the small entity.

Experience/Prerequisites:  Minimum to advanced level.

Who should attend:  Partners and managers responsible for planning and performance of audit engagements, staff persons conducting those engagements, and internal accounting management personnel.

Recommended CPE credit:  8 hours

Acronym: HSIC

The Unified Single Audit Circular
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Description:  This course covers the uniform administrative requirements, cost principles and audit requirements for federal awards for December 31, 2015 and later year ends:

  • Subpart A - Acronyms and Definitions
  • Subpart B - General Provisions
  • Subpart C - Pre-Federal Award Requirements and Contents
  • Subpart D - Post-Federal Award Requirements
  • Subpart E - Cost Principles
  • Subpart F - Audit Requirements

Experience/Prerequisites:  Minimum to advanced level.

Who should attend:  Partners and managers responsible for planning and performance of single audit engagements, as well as staff persons conducting those engagements.

Recommended CPE credit:  8 hours

Acronym: TSAS

Identifying and Responding to the Risk of Material Misstatement
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Description:  This course focuses on the most common financial statement risk areas, and what auditors should do to properly address those risks.  Topics covered include :

  • Applicable risk assessment standards
  • Cash and cash equivalents
  • Revenues and receivables
  • Investments
  • Property and equipment
  • Current liabilities
  • Long-term debt and other obligations
  • Equity
  • The operating statement

Experience/Prerequisites:  Minimum to advanced level.

Who should attend:  Partners and managers responsible for planning and supervision of engagements, as well as staff persons conducting those engagements.

Recommended CPE credit:  8 hours

Acronym: IRRM

GASB Questions and Answers
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Description:  Financial statement preparers often encounter unusual items that present unique problems of presentation and disclosure. Small issues can sometimes confound the preparer and often delay completion of the financial statements.  This course addresses many of those items, such as :

  • The financial reporting entity
  • Deposits with financial institutions
  • Investments
  • Cash flow statements
  • Risk financing
  • Pensions and OPEB
  • Financial statements and management’s discussion and analysis
  • Other guidance

Experience/Prerequisites:  Minimum to advanced level.

Who should attend:  Persons who prepare or review governmental financial statements.

Recommended CPE credit:  8 hours

Acronym: GQA

Internal Control – Identifying and Reporting Deficiencies
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Description:  A comprehensive review of the requirements of the COSO Report and AU-C Sections 315 and 265, designed to enable practitioners and those in industry and government to understand and apply the requirements in designing, monitoring and evaluating controls, as well as reporting deficiencies and making effective recommendations to management and those charged with governance.

Experience/Prerequisites:  Minimum to intermediate level of government/auditing experience.

Who should attend:  Partners and managers responsible for planning and supervision of engagements, audit staff persons who need to understand the requirements to enable them to conduct those engagements, and persons in industry and government responsible for financial reporting and internal audits.

Recommended CPE credit:  8 hours

Acronym: ICRD

Performing Effective and Efficient Audit Testing
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Description:  A review of all of the “tools in the bag”, this course is designed to assist auditors in becoming more efficient while maintaining effectiveness when applying procedures – a “must” course for all levels of staff.

Experience/Prerequisites:  Minimum to intermediate level of auditing experience.

Who should attend:  Partners and managers responsible for planning and supervision of engagements, audit staff members who conduct engagements, and persons in industry and government responsible for internal audits.

Recommended CPE credit:  8 hours

Acronym: PEET

Conducting Government Audits under GAAS, GAGAS and the Single Audit
(A Risk-Based Approach)
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Description:  A broad overview of the audit of local governments, including the unique nature of government auditing, with emphasis on using risk assessment to achieve efficiency.  Topics covered include:

  • Accounting and auditing standards applicable to government engagements
  • Independence considerations
  • Engagement planning with emphasis on risk assessment, materiality and analytical procedures
  • Internal control
  • Audit program design and modification
  • Audit sampling
  • Unique aspects of accounting and auditing for cash, investments, revenues and receivables, expenditures and payables, payroll, property and equipment, long-term debt, and fund equity
  • Conclusion of field work
  • Communication of control related matters
  • Single audit requirements

Experience/Prerequisites:  Minimum to overview level.

Who should attend:  Partners and managers responsible for planning and supervision of governmental engagements, as well as staff persons conducting those engagements.

Recommended CPE credit:  8 hours

Acronym: CGAU

Testing Compliance with Laws and Regulations
in a Governmental Audit
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Description:  AICPA Standards require that auditors obtain reasonable assurance about material misstatements as a result of noncompliance with laws and regulations that have a direct and material effect on the financial statements.  This course addresses the GAAS requirements for the typical governmental laws and regulations and focuses on meeting the documentation requirements.

  • Illegal Acts by clients – the basics
  • Identifying laws and regulations
  • Direct and material laws and regulations
  • Indirect effect laws and regulations
  • Documentation

Learning objectives: To enable participants to understand and apply the requirements of Generally Accepted Auditing Standards, including providing adequate documentation of the tests performed. Includes practice aids.

Experience/Prerequisites:  Minimum to advanced level of auditing experience.

Who should attend:  Partners and managers responsible for planning and supervision of engagements, and audit staff members who are responsible for performing compliance tests and related audit documentation.

Recommended CPE credit:  8 hours

Acronym: TCGA

Risk Assessment in Smaller Entities
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Description:  A review of the requirements to obtain and document sufficient understanding of the entity and its environment, including internal controls, with focus on the smaller entity. This session will include:

  • The entity and its environment, and the importance of the required understanding – Who is this entity and what do they do?
  • The objectives of internal control – Why do we need internal controls?
  • The five components of internal control – How does management achieve internal controls?
  • Special considerations related to smaller entities
  • Documentation – Meeting the requirements without going overboard

Learning objectives: To enable participants to understand and apply the requirements of AU-C 315, Understanding the Entity and Its Environment and Assessing the Risks of Material Misstatement, meet the applicable documentation requirements and achieve audit efficiency.

Experience/Prerequisites:  Minimum to advanced level of auditing experience.

Who should attend:  Partners and managers responsible for planning and supervision of engagements, audit staff members who are responsible for documenting the understanding of the entity and its environment including internal controls, and finance officers responsible for establishing and maintaining internal controls.

Recommended CPE credit:  8 hours

Acronym: RASE

Single Audit Testing and Documentation
Under the Unified Circular
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Description:  A review of Subpart F of the Unified Circular the Single Audit requirements, with suggested audit procedures and sample working paper documentation. This session will include:

  • The Single Audit process
  • Determination of Major Programs
  • Determination of the applicable compliance requirements
  • Identification and documentation of controls over the applicable compliance requirements
  • Designing effective dual-purpose tests – nature, timing and extent
  • Evaluating the test results
  • Single Audit reporting

Learning objectives: To enable participants to understand and test the requirements applicable to the Single Audit of governments and nonprofit organizations, meet the requirements for documentation and reporting, and achieve audit efficiency. Includes case study and practice aids.

Experience/Prerequisites:  Minimum to advanced level of auditing experience in performance of Single Audits. 

Who should attend:  Partners and managers responsible for planning and supervision of Single Audit engagements, and audit staff members who are responsible for testing and documentation.

Recommended CPE credit:  8 hours

Acronym: SATD

Single Audit
From Beginning to End
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Description:  This course is an end-to-end view of the Single Audit process, with emphasis on practical applications, and tips to make your single audits more efficient.  Particular attention is devoted to the process of:

  • Single audit planning: Gathering information about federal awards
  • Identifying and assessing risks: Determining the major award programs
  • Designing procedures that are responsive to risk: Determining what requirements to test
  • Evaluating evidence: What kind and how much evidence do I need?

Pending changes to the single audit requirements will also be addressed.

Experience/Prerequisites:  Minimum to intermediate level of single audit experience.

Who should attend:  Partners and managers responsible for planning and supervision of A-133 engagements, audit staff members who conduct A-133 engagements and persons in government or nonprofit organizations responsible for Single Audit Compliance.

Recommended CPE credit:  8 hours

Acronym: SABE

Obtaining and Evaluating
AUDIT EVIDENCE

Becoming a Better Auditor
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Description:  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.  The material includes a detailed review of AU-C Section 5-1, Audit Evidence.  Specific topics covered:

  • We, the jury
  • Audit evidence and professional skepticism
  • Oral audit evidence – inquiry
  • Physical and documentary evidence – observation, inspection and confirmation
  • Computational, historical and global evidence – analytical procedures, recalculation, reperformance, experience and overall knowledge

Experience/Prerequisites:  Minimum to intermediate level of auditing experience.

Who should attend:  Professional staff with responsibility for performing audit engagements.

Recommended CPE credit:  8 hours

Acronym: AUDEV

2018 Governmental Accounting and Auditing Update
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Description: The Governmental Accounting and Auditing Update  is designed to provide its participants with a comprehensive, in-depth review of what’s happening at the GASB, AICPA, GAO and OMB, including GASB Statements and Interpretations, Statements on Auditing Standards, Auditing Interpretations, Audit Guides, Statements of Position, exposure drafts and projects in progress, with emphasis on the practical application and impact on practitioners in small to medium sized firms and members in government. 

Experience/Prerequisites:  Minimum to intermediate level of government/auditing experience.

Who should attend:  Partners and managers responsible for planning and supervision of governmental engagements, audit staff members who need to understand the changes which have occurred to enable them to conduct governmental engagements, and persons in government responsible for accounting, financial statement preparation, and internal audits.

Recommended CPE credit:  8 hours

Acronym: GAU

2018 Accounting and Auditing Update
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Description: The Accounting and Auditing Update  is designed to provide its participants with a comprehensive, in-depth review of what’s happening at the FASB, AICPA, and other professional bodies who may impact accounting and auditing this year, including FASB Statements and Interpretations, Statements on Auditing Standards, Auditing Interpretations, Audit Guides, Statements of Position, exposure drafts and projects in progress, with emphasis on the practical application and impact on practitioners in small to medium sized firms and members in industry. 

Experience/Prerequisites:  Minimum to intermediate level of auditing experience.

Who should attend:  Partners and managers responsible for planning and supervision of engagements, audit staff members who need to understand the changes which have occurred to enable them to conduct engagements, and persons in industry responsible for accounting, financial statement preparation, and internal audits.

Recommended CPE credit:  8 hours

Acronym: AAU

2018 FEE SCHEDULE
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Accounting and Auditing Training (per 400 minutes of instruction)

1st 15 participants - $80 per participant (minimum guarantee 15 participants)
Next 35 participants - $70 per participant
Next 50 participants - $50 per participant
Additional participants - $25 per participant

Travel and subsistence charges plus honorarium of $1,200 apply in addition to quoted rates.

One master copy of copyrighted materials are provided two weeks in advance for copying at the firm’s expense.

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