Implementing the New Risk Assessment Standard/Did I Pick the Right Major? Selecting Major Programs in a Single Audit
Overview
This four hour session includes two 2-hour classes!
Implementing the New Risk Assement Standard:
The auditor's responsibilities related to risk assessment have changed! This power-packed course will empower you with the working knowledge of SAS No 145, Understanding the Entity and Its Environment and Assessing the Risks of Material Missstatement, to successfully apply the standard.
Did I Pick the Right Major? Selecting Major Programs in a Single Audit:
Even after we complete our work at an institution, the question sometimes lingers: "Did I pick the right major?" Major program determination is difficult in a single audit and sometimes we feel ill prepared to make the best decison. This course will give you the counseling and assistance you need to fell confident in your major program selection under the Uniform Guidance for Federal Awards requirements.
Highlights
Implementing the New Risk Assement Standard:
- The performance of Risk Assessment procedures to attain the knowledge needed to assess risk
- How the auditor identifies and assesses the risks of material misstatement
- The new "stand-back" requirements related to risk assessment
Did I Pick the Right Major? Selecting Major Programs in a Single Audit:
- Understanding the risk-based program selection approach to identifying major programs
- The four-step major program determination process
- How to identify "not-low-risk type A programs" and "high-risk type B programs"
Prerequisites
Implementing the New Risk Assement Standard:
Basic auditing experience
Did I Pick the Right Major? Selecting Major Programs in a Single Audit:
Some introductory background in single auditing
Designed For
Implementing the New Risk Assement Standard:
All auditors
Did I Pick the Right Major? Selecting Major Programs in a Single Audit:
Not-for-profit and government auditors
Objectives
Implementing the New Risk Assement Standard:
- Understand and prepare for the 2023 calendar year-end implementation of SAS No 145 on risk assessment and two highly-related SASs related to auditing accounting estimates and compliance auditing (i.e. SAS Nos 143 and 148)
- Recognize the effects of SAS Nos. 144, 146 and 147, which are also on the short-term implementation horizon
Did I Pick the Right Major? Selecting Major Programs in a Single Audit:
- Understand the importance of the major program determination process
- Perceive the key elements in major program determination and selection (e.g. properly identifying type A and type B programs, high-risk and low-risk programs, and the percentage-of-coverage rule)
- Skillfully and confidently select major programs in a single audit
Preparation
Implementing the New Risk Assessment Standard:
None
Did I Pick the Right Major? Selecting Major Programs in a Single Audit:
None
Leader(s):
Leader Bios
Jack Georger Jr, AICPA
John “Jack” Georger, CPA, CIA Las Vegas, NV Jack Georger has served a broad base of clients, including port authorities, higher education institutions, community service organizations, foundations, counties, school districts, cities, and employee retirement systems. In addition, the commercial clients he has served include construction, real estate, aerospace, research and development, agricultural, and professional service firms. Jack has also consulted on numerous budgets and rate and cost studies for municipal authorities, as well as the design and implementation of internal control systems for various entities. During his career, Jack has had the opportunity to audit publicly traded companies, both accelerated filers under PCAOB Auditing Standards and non-accelerated filers; major U.S. cities and counties; colleges and universities; and some of the largest not-for-profit organizations in the United States. Jack is licensed to practice as a certified public accountant (CPA) in the states of California, New York, Virginia, Maryland, South Carolina (inactive), Nevada, Connecticut (inactive), Wyoming (inactive), and Georgia (inactive), and in the District of Columbia(inactice); he is also a Certified Internal Auditor (CIA). He is a member of the Institute of Internal Auditors, California Society of Certified Public Accountants (CSCPA), New York State Society of Certified Public Accountants (NYSSCPA), Nevada Society of Certified Public Accountants, and Government Finance Officers Association (GFOA). Jack currently serves on the Financial Accounting Standards Committee, Not-For-Profit Committee, Sustainability Committee, and Government Accounting and Auditing Committee of the NYSSCPA. Jack has been a member of the GFOA Special Review Committee for the Certificate of Achievement for Financial Reporting since 1990. Jack graduated from George Mason University with a degree in Business Administration, and he first became a CPA in the state of Connecticut in 1981. He was in private practice in New York, where his firm provided auditing, accounting, and tax services to various local governments, not-for-profit organizations, small businesses, and individuals for over twenty years. Since selling his practice in 2001, Jack has been an Audit Senior Manager with KPMG, LLP and Pricewaterhouse Coopers, LLP; a partner in a regional firm in Los Angeles; Audit Director with McGladrey and Pullen, LLP; and, currently, a partner with the Pun Group, LLP
Non-Member Price $200.00
Member Price $175.00