2020…what a year it has been, with the impact of COVID-19 being at the forefront! This panel discussion will focus on the various types of impacts and challenges that COVID-19 has presented for governmental entities and not-for-profit organizations – lost revenue, increased expenses, new types of federal grant compliance, payroll tax issues, PPP loans, financial reporting, etc. While the impact of COVID-19 will make its way into many of the conference sessions, this opening panel will facilitate an interactive discussion on the nature of risks, challenges and opportunities, including the opportunity for participants to ask questions and submit examples.

Learning Objectives:

• 1. Identify the challenges, best practices and updates impacting the government and not-for-profit industries as a result of the COVID-19 pandemic.
• 2. Distinguish COVID-related financial reporting considerations, as well as FASB, GASB and Uniform Guidance updates that will impact your government/organization.

2020…what a year it has been, with the impact of COVID-19 being at the forefront! This panel discussion will focus on the various types of impacts and challenges that COVID-19 has presented for governmental entities and not-for-profit organizations – lost revenue, increased expenses, new types of federal grant compliance, payroll tax issues, PPP loans, financial reporting, etc. While the impact of COVID-19 will make its way into many of the conference sessions, this opening panel will facilitate an interactive discussion on the nature of risks, challenges and opportunities, including the opportunity for participants to ask questions and submit examples.

Learning Objectives:

• 1. Identify the challenges, best practices and updates impacting the government and not-for-profit industries as a result of the COVID-19 pandemic.
• 2. Distinguish COVID-related financial reporting considerations, as well as FASB, GASB and Uniform Guidance updates that will impact your government/organization.

Learning Objectives:

• Identify proposed changes in state and local government financial reporting
• Determine the most significant implementation challenges they will face
• Analyze any alternatives available to participants to imprement or influence the future of governmental reporting

Learning Objectives:

• Identify the FASB's agenda priorities, especially those related to COVID-19, including where to find resources that the FASB has provided.
• Analyze key aspects of recent ASUs and select FASB projects, and of key implementation issues with Topic 842 and other recent standards.

Learning Objectives:

• Distinguish key developments in single audits
• Recognize how COVID-19 funding impacts your audits
• Identify Uniform Guidance revisions

Learning Objectives:

• Identify strategies to improve board engagement and effectiveness
• Recognize the life cycle of a board
• Indicate best practices in nonprofit board governance

Learning Objectives:

• Recognize federal viewpoint on COVID-19 audit implications
• Identify common quality issues in single audits
• Indicate the latest single audit developments from federal regulators

Learning Objectives:

• Assess the basics of a good succession plan
• Predict succession areas to address in a crisis/post-pandemic environment
• Evaluate unique ideas to begin implementing now to strengthen your firm's succession
• Interpret the ongoing process of maintaining a succession plan

Learning Objectives:

• Identify complex, odd and strange transactions
• Apply walk-through of examples faced by not-for-profit organizations
• Identify practical ways to reach and document sound decisions and conclusions

Learning Objectives:

• Identify common Procurement questions and challenges for both grantees and auditors
• Analyze the most updated procurement thresholds and regulations
• Apply practical examples of how grantees and auditors have addressed Procurement challenges

Learning Objectives:

• Distinguish what types of contracts meet the definition of a lease and the types of contracts that do not.
• Recognize the lease term and its importance when calculating a lease liability or lease receivable.
• Estimate completeness of lease contracts and applying materiality to leases.

Learning Objectives:

• Identify the most common errors found in not-for-profit financial statements
• Determine the impact errors could have on not-for-profit financial statements
• Identify how to avoid errors in not-for-profit financial reporting

Learning Objectives:

• Recognize the requirements of UG related to understanding and documenting internal controls over compliance.
• Recall the attributes of the COSO model, as well as elements of the Green Book.
• Identify a fundamental understanding with a step by step approach to documenting internal controls in a single audit
• Review all relevant guidance related to internal controls in a single audit.

Learning Objectives:

• Indicate the reporting of a lease liability and a lease receivable in the initial year and subsequent years.
• Recall the disclosures required for leases.
• Distinguish the additional components of GASB 87 that may apply to some leases

Learning Objectives:

• Identify the most common errors found in not-for-profit financial statements
• Determine the impact errors could have on not-for-profit financial statements
• Identify how to avoid errors in not-for-profit financial reporting

• Subrecipient versus contractor determination
• Required data elements in the subrecipient agreement
• Main aspects to include in risk assessment and how it drives your monitoring plan
• Verify subrecipient has audit when necessary

Learning Objectives:

• Distinguish between subrecipient and contractor
• Recognize elements required to be included in all subaward agreements
• Indentify the expectation for a risk assessment of a potential subrecipient and how it impacts the monitoring plan of that subrecpient

Learning Objectives:

• Determine accounting treatment under the leases guidance
• Analyze contracts as leases
• Calculate lease liabilities and assets
• Identify potential implementation issues & challenges

Learning Objectives:

• Identify the key provisions of Topic 842 and the judgments involved in applying them to NFP lessees.
• Determine key implementation issues, challenges and approaches to implementing Topic 842 efficiently and effectively.

Learning Objectives:

• Identify control objectives for each compliance requirement.
• Analyze compliance processes and controls within processes.
• Determine risks within processes ("what can go wrong" risks).
• Apply theory to various case scenarios.

Learning Objectives:

• Determine accounting treatment under the leases guidance
• Analyze contracts as leases
• Calculate lease liabilities and assets
• Identify potential implementation issues & challenges

Learning Objectives:

• Identify the key provisions of Topic 842 and the judgments involved in applying them to NFP lessees.
• Determine key implementation issues, challenges and approaches to implementing Topic 842 efficiently and effectively.

• Clarifying what a single audit finding is and is not
• Effective single audit findings
• Elements of responsive corrective plan
• Implications of a management's decision
• Resolving "disagreements" between grantor and grantee

Learning Objectives:

• Indicate a well crafted audit finding and corrective action plan
• Recognize implications of a grantor's management decision and impact on grants management

Learning Objectives:

• Analyze Concepts Statements No. 1-6.
• Identify the criteria for disclosing information items in notes to financial statements, as proposed in the GASB's February 2020 Exposure Draft, Communication Methods in General Purpose External Financial Reports That Contain Basic Financial Statements: Notes to Financial Statements.
• Identify the concepts proposed in the GASB's ongoing project, Recognition of Elements of Financial Statements.

Learning Objectives:

• Analyze IRS and common state requirements for conducting and reporting gaming activities, focusing on likely pitfalls and how to avoid them.
• Apply best practices for gaming events.

Learning Objectives:

• Identify how nonprofits are engaging donors to drive revenue to support their mission.
• Determine how new models of donor engagement will require complex thinking around accounting, tax and other issues

Learning Objectives:

• Identify recent activities at GASB
• Recall key points related to newly-issued standards as well as projects underway at GASB
• Apply the most recent GASB requirements to governments

Learning Objectives:

• Identify any recent changes to the Form 990 as compared to previous years.
• Recognize some of the potential "red-flags" on the Form 990.
• Indicate how to best avoid Form 990 reporting "traps"

Learning Objectives:

• Recall sampling considerations in a single audit.
• Identify key underlying concepts to select a proper sample.

Learning Objectives:

• Identify recent activities at GASB
• Recall key points related to newly-issued standards as well as projects underway at GASB
• Identify the most recent GASB requirements to governments

Learning Objectives:

• Identify any recent changes to the Form 990 as compared to previous years.
• Recognize some of the potential "red-flags" on the Form 990.
• Indicate how to best avoid Form 990 reporting "traps"

Learning Objectives:

• Recall sampling considerations in a single audit.
• Identify key underlying concepts to select a proper sample.

Learning Objectives:

• Determine the reasons the GASB is taking a comprehensive look at revenue and expense recognition.
• Identify the GASB's preliminary views regarding a new approach for categorization of revenue and expense transactions.
• Distinguish how certain common transactions would be analyzed under the preliminary model.

Learning Objectives:

• Identify the impact ASC 606 has on key revenue streams of not-for-profit organizations
• Determine the impact of ASU 2018-08 and the differences between exchange transactions and contributions
• Walk through example grant and gift agreement language, identifying key terminology and interpretations in light of ASC 606 and ASU 2018-08

Learning Objectives:

• Determine auditor considerations related to population completeness, calculations of sample sizes, and risk.
• Identify when sampling may not be appropriate for a population in a single audit.

Learning Objectives:

• Recognize the reasons the GASB is taking a comprehensive look at revenue and expense recognition.
• Identify the GASB's preliminary views regarding a new approach for categorization of revenue and expense transactions.
• Identify how certain common transactions would be analyzed under the preliminary model.

Learning Objectives:

• Determine the reasons the GASB is taking a comprehensive look at revenue and expense recognition.
• Identify the GASB's preliminary views regarding a new approach for categorization of revenue and expense transactions.
• Distinguish how certain common transactions would be analyzed under the preliminary model.

Learning Objectives:

• Determine auditor considerations related to population completeness, calculations of sample sizes, and risk.
• Identify when sampling may not be appropriate for a population in a single audit.

Learning Objectives:

• Distinguish the significant independence requirements and related application guidance found in the 2018 Revision of the Yellow Book.
• Identify the impact the 2018 Revision of the Yellow Book will have on the performance of certain nonaudit services.
• Indicate where to obtain additional GAO and AICPA Resources.

Learning Objectives:

• Identify expectation: From Board down to management, what’s important for you to ensure your process is efficient and effective?
• Recognize culture and values: How do your organization's culture and values shape your budgeting and forecasting/reporting processes?
• Indicate resource allocation: What's the right balance between investing in people and systems to lighten the budgeting load?
• Distingquish in the thick of it: What kind of challenges/difficulties can arise during the budgeting process and how can you manage them? You have an approved budget, now what?

Learning Objectives:

• Determine how to evaluate results of internal control over compliance and compliance testing
• Analyze findings reported under Uniform Guidance and Government Auditing Standards
• Apply knowledge gained through use of case studies

Learning Objectives:

• Identify changes introduced in the revised interpretation
• Determine how the new standard impacts identified affiliates of state and local governments
• Apply new independence standards to state and local government audits

The risk of fraud  is a serious concern and can be particularly damaging to nonprofit organizations.  In this session, learn the key steps a nonprofit can take to help address the common forms of fraud occurring in nonprofits.

Learning Objectives:

• Identify fraud risk factors common in the not-for-profit sector.
• Indicate steps that organizations can take to strengthen their controls.

Learning Objectives:

• Analyze risks for Federal programs to determine which should be audited as major.
• Determine the impacts of Federal funding and SEFA reporting on major program determination.

Learning Objectives:

• Identify the critical components of the standard
• Apply requirements to successfully implement the GASB fiduciary standard

Learning Objectives:

• Identify the key exclusions/exceptions to classifying certain income as unrelated business income
• Recognize the essential importance of contemporaneous documentation
• Recall recent IRS guidance addressing unrelated business income issues

Learning Objectives:

• 1. Assess high risk areas of the single audit and how to address
• 2. Evaluate best practices to avoid deficiencies in a single audit
• 3. Formulate responses to current single audit questions

Learning Objectives:

• Indicate practice issues facing government auditors during challenging times
• Identify ways to navigate practice issues government auditors face to ensure the quality of audits meet expectations of stakeholders

Learning Objectives:

• • Identify industry, regulatory and economic developments affecting not-for-profit organizations
• • Determine audit issues impacting upcoming audit engagements
• • Distinguish the recent changes to GAAP and create an awareness of noteworthy changes on the horizon impacting NFPs

Learning Objectives:

• Identify the various parts of the compliance supplement.
• Recognize the available information and how this information can assist in your single audit work.

Learning Objectives:

• Identify theory and actionable take-aways to plan single audits.
• Select federal programs to test.
• Indicate a testing strategy to implement.
• Identify how to report on audit results.

The GASB has now issued standards that number into the 90s.  However, not all provisions of the standards seem to be as understood as others.  This session will take a look at some provisions within GAAP that may not be as well known as others, but are equally important for accurate external financial reporting.  The idea of this session is to highlight certain aspects of governmental GAAP that practitioners and stakeholders should know, but perhaps have either forgot or never knew in the first place.  Topics will include, but are not limited to, fund balance constraints, presentation format options, financial guarantees, prior period adjustments, going concerns, and many more.

Learning Objectives:

• Analyze lesser known provisions of GASB GAAP
• Determine application issues related to GASB GAAP
• Identify shortcuts or alternatives in complying with GASB GAAP

Learning Objectives:

• Identify theory and actionable take-aways to plan single audits.
• Select federal programs to test.
• Indicate a testing strategy to implement.
• Identify how to report on audit results.

Learning Objectives:

• Recognize the Priority Guidance Plan from an EO perspective and the TE/GE Program Letter
• Identify changes to any of the nonprofit tax forms
• Recall any EO court cases of note during the past year