Conducting Government Audits under GAAS, GAGAS and the Single Audit (A Risk-Based Approach)
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:
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
- 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