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Monday, August 16, 2021

8/16 - ET

GAE2101. Welcome & Introduction | Work of The GAO During the Pandemic

Gene Dodaro

- Comptroller General | U.S. Government Accountability Office

In response to the COVID-19 pandemic, Congress appropriated $4.7 trillion in emergency assistance for people, businesses, the health care system, and state and local governments. The Government Accountability Office (GAO) is examining the federal response. The Comptroller General of the United States will discuss GAO's extensive work on this topic, including recommendations GAO has made to improve federal programs related to the pandemic and other future emergencies. This session will also cover work GAO has done on Paycheck Protection Program, as well as vaccines and other health technologies related to the pandemic.


Learning Objectives:

  • Participants will learn of COVID-19’s effects on federal programs and operations and insights from GAO's Oversight of the federal efforts in response to the pandemic.
  •  Identify areas where GAO has made recommendations related to the pandemic.
  •  Determine elements of public health, economic effects, and health science where GAO has done work.
  •  Understand the range of areas in which GAO is conducting its ongoing monitoring and oversight efforts related to the pandemic.

8/16 - ET

GAE2102. Auditing Standards Update (ASB/GAO)

Ahava Goldman

- Associate Director | AICPA

James Dalkin

- Director | GAO

This session provides an update on Government Auditing Standards (GAS) contained in the GAO's Yellow Book and the US Auditing Standards set forth by the US Auditing Standards Board (ASB).


Learning Objectives:

  • Identify updates/changes to Government Auditing Standards and challenges in implementing.
  • Identify changes in the US Auditing Standards and related guidance.

8/16 - ET

Exhibitor Connection

8/16 - ET

GAE2103. The Impact of Covid-19

Asif Khan

- Director | GAO

Rehana Mohammed

- Associate Director for Transparency | CIGIE (PRAC)

Bryon Gordon

- Assistant Inspector General, Audit | U.S. Department of Education

Amy Edwards

- Senior Advisor, Financial Advisor | U.S. Department of the Treasury

Beryl Davis

- Director, Financial Management and Assurance | U.S. GAO

In response to the COVID-19 pandemic, Congress appropriated around $5 trillion in emergency assistance for people, businesses, the health care system, and state and local governments. The large amount of funds and the urgency to get money to those in need caused multiple challenges for the overseers of this effort, from transparency and uncertainty around the accuracy of reporting, to timeliness of making this information available, as well as the risk for improper payments. This panel of senior officials from GAO, Treasury, the Pandemic Response Accountability Committee and a federal OIG will discuss the following:

• How has financial reporting been impacted as to its timeliness and the accuracy/quality of information?
• Has transparency in financial information reporting been sufficient and easily accessible, for example on USASpending.gov?
• What challenges did COVID-19 create that affected payment integrity and the risk of fraud and improper payments?


Learning Objectives:

  • Participants will learn of the challenges in overseeing of this effort, including transparency and uncertainty around the accuracy of reporting
  • Participants will learn of the challenges in overseeing of this effort, including the timeliness of making this information available, as well as the risk for improper payments.

8/16 - ET

GAE2104. Single Audit Update

Kim McCormick

- CPA | Grant Thornton

Mary Foelster

- Senior Director, Governmental Auditing and Accounting | AICPA

Pandemic funding has made the single audit arena very challenging and things are changing much more frequently than usual. This session will bring you up-to-speed on important matters. Topics to be covered include:

  • Highlights of changes to the 2021 Supplement
  • A summary of COVID-19 funding and related challenges.
  • Tips and resources

Learning Objectives:

  • Learn changes to the 2021 Supplement
  • Learn about COVID-19 funding and its respective challenges

8/16 - ET

Midday Break with Sassy Lassy Trivia!!

8/16 - ET

GAE2105. How Pandemic Funding is Being Used - a Report Out from the Pandemic Response Accountability Committee (PRAC)

Lisa Reijula

- Associate Director | Council of the Inspectors General on Integrity and Efficiency

Brien Lorenze

- Chief Data Officer | Council of the Inspectors General on Integrity and Efficiency

Brooke Holmes

- Associate Director | Council of the Inspectors General on Integrity and Efficiency

The CARES Act created and tasked the Pandemic Response Accountability Committee with providing transparency and coordinated oversight of federal pandemic response funds—now totaling more than $5 trillion. Come learn more about our structure, what we have accomplished so far, and what we’ve learned in providing critical oversight of American tax dollars. The session will also discuss higher risk areas and fraud indicators related to pandemic funding as well as our Pandemic Analytics Center of Excellence, which was created to conduct data analysis and visualization; promote leading practices; share data, tools and services; and provide investigative support related to COVID-19 relief and response programs.


Learning Objectives:

  • Understand the pandemic relief funding provided by the Federal government
  • Learn about the top management challenges faced by agencies in the pandemic
  • Learn how the PRAC is fighting fraud, waste, and abuse of pandemic funds through our Pandemic Analytics Center of Excellence.

8/16 - ET

GAE2106. Using Data Analytics to Assess Risk and Detect Fraud In Government

Kyle Sutton

- Manager | Plante Moran

Eric Conforti

- Principal - Forensic Accounting Services | Plante Moran

A single case of occupational fraud costs government organizations a median of $100,000, according to the Association of Certified Fraud Examiners (ACFE) 2020 Report to the Nations. But why are governments so vulnerable? Join us to found out.

This session will provide participants with the latest trends in fraud, data analytics strategies for early detection, and preventative measures that governments can implement to reduce their risk of fraud. We’ll use actual case studies to show how data analytics can be used to identify various types of fraud. We’ll share the story for each case, including how it was discovered and how it could have been prevented. Building on these cases, we’ll teach you analytical tests that can be performed to identify anomalies and unusual trends without investing in “fancy” software.


Learning Objectives:

  • Identify preventable measures that can be implemented to reduce risk of fraud
  • Utilize data analytics to identify various types of fraud

8/16 - ET

GAE2107. Challenging Areas Introduced in The Compliance Supplements - 2020, 2020 Addendum, and 2021 (Repeated in Session 2117)

Amanda Ward

- Partner | Plante Moran

Kim McCormick

- CPA | Grant Thornton

Lindsey Oakley

- Partner | BKD
There have been many single audit challenges this year with an unprecedented amount of Federal funding going into the economy. Understanding how to use the Compliance Supplement is more important than ever. This session will dive into the more challenging areas of the 2020 Compliance Supplement and subsequent Addendum as well as information about the 2021 Compliance Supplement.

Learning Objectives:

  • Gain an understanding of how to use the 2020 Compliance Supplement in conjunction with the 2020 Compliance Supplement Addendum.
  • Discuss how the 2021 Compliance Supplement has been updated for changes in additional COVID funding.

8/16 - ET

Stretch'd Break - Click on your next session to access

Stretch*s To Improve Posture - 

Stretches to help you sit up straighter and combat "text neck." Learn stretches that you can easily work into your day to help relieve tension.

8/16 - ET

GAE2108. Innovation in Auditing

Taka Ariga

- Chief Data Scientist and Director of Innovation Lab | U.S. Government Accountability Office

Brett Baker

- Inspector General | National Archives

In the Fourth Industrial Revolution, technology is advancing every day and oversight should, too. Driving credible and sustained culture of innovations within the audit community is a special tradecraft that requires care. How can we empower auditors with emerging technologies to be more prospective, dig deeper, and be more responsive? Learn from a panel of experts with examples on how innovations is delivering better foresights, insights, and oversights.


Learning Objectives:

  • Participants will explore examples of analytical and automation techniques for risk-calibrated continuous monitoring.

8/16 - ET

GAE2109. Fiduciary Activities Implementation Considerations (GASB 84 & 97)

Lisa Parker

- Senior Project Manager | Governmental Accounting Standards Board (GASB)

Michelle Watterworth

- Partner | Plante Moran

If you haven’t already implemented GASB 84, if you are mid-way through implementation or even if you’ve already implemented GASB 84, this session is for you! Since the issuance of Statement 84 itself, other authoritative guidance has been issued impacting the implementation of the Fiduciary Activities standard. This session will focus on some of these changes since the issuance of Statement 84, and will provide practical application along with multiple case studies and tips to ensure your government’s successful implementation.


Learning Objectives:

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

8/16 - ET

GAE2110. New Bills: Are You Aware of Everything That Has Come Out?

Emily Brock

- Federal Liaison | Government Finance Officers Association (GFOA)
From ARPA to Infrastructure, the Biden Administration and Congress have been exceptionally busy during 2021. What are the most important pieces of legislation and how are state and local governments tracking them? Come to this session to identify those key initiatives and assess the impact on state and local governments in 2021 and beyond.

Learning Objectives:

  • Identify key federal legislation that will impact state and local governments financial position
  • Assess the impact of the federal legislation on state and local governments both as grants and as infrastructure tools

8/16 - ET

GAE2111. Crypto Assets and Bitcoin: A Primer, the Evolving Regulatory Framework, and the Risks Going Forward

Shantel Cannon

- Senior Associate, Cryptoasset Products & Services | KPMG

Patrick O'Kain

- KPMG

Crypto assets have had both high and low moments over the last decade. What are they, how they work, and what the future is for this space will each be explored in this presentation. Other areas such as accounting considerations, regulatory framework, and evolving crypto asset products will also be shared.


Learning Objectives:

  • Define crypto assets and bitcoin and describe how they work
  • Explore the evolving regulatory framework
  • Discuss the related accounting considerations
  • Reflect on the ever-changing environment over the last decade
  • Highlight the risks and the way forward for these products

8/16 - ET

GAE2112. Cybersecurity - how does it fit into audit?

Robert Scott

- Chief Financial Officer/Assistant City Manager | City of Carrollton, TX

Ben Kohnle

- Partner | BKD, LLP

Chris Chiancone

- CIO | City of Carrollton
This session will examine cybersecurity from the perspective of the CFO, CIO and external auditor. Topics will include general controls over IT, vulnerability scanning, penetration testing and tips and tricks for identifying whether audit clients may be potentially vulnerable.

Learning Objectives:

  • Improve auditor and preparer understanding of their roles in an effective security program.
  • Discuss what a CIO wishes their finance and auditor's would understand regarding cybersecurity

8/16 - ET

GAE2113. PEEC & SLG Ethics Update

Flo Ostrum

- Partner | Grant Thornton LLP

John Good

- Managing Director | Ernst & Young

The AICPA Professional Ethics Division issued the State and Local Government Client Affiliates Interpretation to provide guidance to auditors of State and Local governments in evaluating which entities are affiliates of those governments. This session will go through an overview of the revised interpretation, discuss examples of how affiliates would be evaluated using this interpretation, and introduce some tools to assist in the evaluation. The session will also cover current Ethics projects that will impact state and local governments.


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

Tuesday, August 17, 2021

8/17 - ET

GAE2114. Morning Announcements & Introduction | FASAB and GASB: A View From the Top

George Scott

- Chair | Federal Accounting Standards Advisory Board

Joel Black

- Chair | Governmental Accounting Standards Board

This session will provide a high level overview of recent activity and current key projects of both the FASAB and the GASB. Additionally, the Chairs of both Boards will discuss projects and issues that are on the horizon for governmental accounting and financial reporting.


Learning Objectives:

  • Understand how current key projects on the FASAB technical agenda are intended to improve accounting and financial reporting.
  • Understand how current key projects on the GASB technical agenda are intended to improve accounting and financial reporting.
  • Discuss the current and future trends that will impact the FASAB and its technical agenda.
  • Discuss the current and future trends that will impact the GASB and its technical agenda.

8/17 - ET

Exhibitor Connection

8/17 - ET

GAE2115. FASAB Update: The Nuts and Bolts of What’s Happening at FASAB This Year

Terry Patton

- FASAB Board Member, Professor | FASAB Board

Joshua Williams

- Senior Analyst | FASAB
The Federal Accounting Standards Advisory Board (FASAB) serves the public interest by improving federal financial reporting through issuing generally accepted accounting principles and providing guidance after considering the needs of external and internal users of federal financial information. Federal financial reports are essential for public accountability and for an efficient and effective functioning of our democratic system of government. In this session, we will present a general update on current FASAB challenges, project statuses, and stakeholder engagements.

Learning Objectives:

  • Identify current external challenges, including COVID-19, and discuss ways that FASAB is committed to resolving stakeholder difficulties.
  • Identify and discuss the current status of all FASAB research topics, active projects, and proposed guidance.
  • Identify and discuss the ways that FASAB engages with stakeholders for developing guidance and outreach efforts.

8/17 - ET

GAE2116. GASB Leases: What Auditors and Auditees Need to Know to Implement

Jeff Markert

- Partner | KPMG LLP

Chris Pembrook

- Crawford CPAs

The time has come to implement the new GASB lease standard (GASB 87). This session will explore some of the more significant implementation challenges and key auditor considerations. In this session, we will explore:

  • Determining the completeness of the lease population, including identifying embedded leases
  • Use of recognition thresholds
  • Separating components and allocating contract prices
  • Selecting and auditing discount rates
  • Subsequent measurement of lease liability/receivable and accrued interest
  • Lease remeasurements and implications to accounting systems and processes
  • Accounting for lease modifications
  • Preparing for required note disclosures
  • Common transition adjustment questions
  • Using a rollforward approach for auditing
  • Consideration of GASB Statement No. 96, Subscription-Based Information Technology Arrangements

Learning Objectives:

  • 1. Identify implementation challenges related to GASB 87.
  • 2. Understand key auditor considerations.
  • 3. Recognize the impact of GASB 96 on the implementation of GASB 87.

8/17 - ET

GAE2117. Challenging Areas Introduced in The Compliance Supplements - 2020, 2020 Addendum, And 2021 (Repeat of Session 2107)

Amanda Ward

- Partner | Plante Moran

Kim McCormick

- CPA | Grant Thornton

Lindsey Oakley

- Partner | BKD
There have been many single audit challenges this year with an unprecedented amount of Federal funding going into the economy. Understanding how to use the Compliance Supplement is more important than ever. This session will dive into the more challenging areas of the 2020 Compliance Supplement and subsequent Addendum as well as information about the 2021 Compliance Supplement.

Learning Objectives:

  • Gain an understanding of how to use the 2020 Compliance Supplement in conjunction with the 2020 Compliance Supplement Addendum.
  • Discuss how the 2021 Compliance Supplement has been updated for changes in additional COVID funding.

8/17 - ET

GAE2118. DFAS Efforts to Improve Intragovernmental Financial Reporting for The U.S. Government Financial Report

Greg Koval

- Deputy Director, Financial Operations | Department of the Navy

Gerald Davenport

- Director Financial Reporting | DFAS

Mike Linder

- Assistant Commissioner, Fiscal Accounting | Treasury/Fiscal Service

Join representatives from the Defense Finance Accounting Service (DFAS), DoD, and the U.S. Treasury to discuss some of the efforts underway to eliminate the longstanding intragovernmental transactions material weakness on the accrual-based consolidated financial statements of the U.S. Government. In this session, we will hear from DFAS about best practices for improving internal control over financial reporting between DFAS, as a shared services provider, and its federal partners. The best practices are intended to adequately account for intragovernmental activity and balances between federal entities. We will also hear from the U.S. Treasury on the results of DFAS efforts and overall government-wide performance as well as Treasury’s support to agencies toward eliminating the material weakness.


Learning Objectives:

  • 1. Identify best practices for improving internal control over financial reporting for intragovernmental activity and balances between federal entities.
  • 2.  Learn about the results of those best practices on eliminating the related material weakness.
  • 3.  Determine how to leverage best practices and Treasury support to improve overall internal control over financial reporting in the U.S. Government.

8/17 - ET

GAE2119. Financial Reporting Model Improvements

Lisa Parker

- Senior Project Manager | Governmental Accounting Standards Board (GASB)

Michelle Horaney

- Partner | RSM US, LLP

GASB Statement No. 34; Basic Financial Statements – and Management’s Discussion and Analysis – for State and Local Governments, issued in 1999, was the most significant and comprehensive change to state and local government financial reporting. Re-examination of GASB 34 became a top priority for GASB and was added to GASB’s slate of pre-agenda research activities in 2013. The project continues to remain a top priority for GASB and has culminated into two exposure drafts which were issued in 2020. Join us as we take a deep dive into the Exposure Draft; Recognition of Elements of Financial Statements and the Exposure Draft; Financial Reporting Model Improvements to discuss key changes being proposed and how those changes might impact your organization or client.


Learning Objectives:

  • Identify the proposed changes in state and local government financial reporting
  • Assess the most significant implementation challenges
  • Evaluate any alternatives available to implement or influence the future of governmental reporting

8/17 - ET

GAE2120. Hot Topics in Auditing State and Local Government Financial Statements

Tony Boras

- Partner | Crowe LLP

Michelle Watterworth

- Partner | Plante Moran
Auditors and governments faced unprecedented circumstances in 2020 and the current environment will continue to impact audits in 2021. Government auditors face several practice issues, making it difficult to perform effective and efficient audits while maintaining the quality stakeholders and our profession expect. Learn about the latest developments impacting state and local government financial statement audits and how to navigate them during an already challenging time.

Learning Objectives:

  • Identify how the current environment is impacting the planning and risk assessment process for state and local government audits
  • Discuss the latest state and local government-related findings identified in the peer review process
  • Identify how recently issued auditing standards will effect state and local government audits
  • Recognize the challenges the American Rescue Plan Act (ARPA) will have on governmental financial statements

8/17 - ET

Roundtable Networking Break

Join us for a roundtable networking break! Flip on your audio and video to participate in informal discussions and collaborate with your fellow attendees. Roundtable networking is hosted on the Remo Platform! Save time, create your account and save your spot before the event day! Your data will be stored by Remo. Review Remo's privacy policy for more information. Participation and the use of Remo is voluntary.

8/17 - ET

GAE2121. Creating Innovative Financial Management Organizations and Operations

Asif Khan

- Director | GAO

Mike Wetklow

- Deputy Chief Financial Office | NSF

Craig Fisher

- Bureau of Fiscal Service, U.S. Department of the Treasury

Analytical capabilities and emerging technologies are profoundly changing financial management organizations and functions. Two federal agency innovators will discuss how to create, foster, and nurture teams and environments that produce results and improve decision-making with these capabilities and technologies.


Learning Objectives:

  • Participants will learn how to strategically plan the use of analytical capabilities and emerging technologies as well as the benefits and risks surrounding these capabilities.
  • Participants will learn about the practical applications of these capabilities and how they are producing results and improving decision-making.

8/17 - ET

GAE2122. Telling the Story of Financial Statements

Robert Scott

- Chief Financial Officer/Assistant City Manager | City of Carrollton, TX

Eric Formberg

- Retired Partner | Plante Moran
Elected officials, citizens and even the government's staff and leadership team can be intimidated by the audited financial statements often not even trying to read them. This session will discuss ways that both the auditor and the finance officer can translate the financial data and auditor conclusions into understandable terms to better grasp the government's financial message and in so doing build confidence and trust in annual financial statements.

Learning Objectives:

  • Build strategies to better communicate financial results to a non financial audience
  • Understand how auditor and finance officer communications can complementary when communicating audit and financial results

8/17 - ET

GAE2123. Remote Auditing Challenges and Solutions

Krista Edoff

- Partner | Cherry Bekaert LLP

Melisa Galasso

- CEO | Galasso Learning Solutions

The global pandemic forced many accounting firms to move to remote audits in a very short period of time without a lot of preparation. Through trial and error, firms have found best practices that can help ensure audits are not only effective but efficient. We’ll look at best practices in remote auditing taking into consideration guidance provided by GAO regarding potential impacts of the pandemic on how firms audit. We’ll also look at fraud statistics in a COVID environment. We’ll close with a look at how internal control design as well as testing was impacted by the pandemic. This course will focus not only on the challenges but on solutions that have proven successful.


Learning Objectives:

  • Recall the impact of COVID on fraud
  • Identify the key considerations identified in the GAO Alert
  • Describe best practices in auditing in a remote environment

8/17 - ET

GAE2124. CIGIE Update/Hot Topics

Brett Baker

- Inspector General | National Archives

Dr. Brett Baker will present topics addressing recent areas of common interest in the federal oversight community:

  • OIG community cross-cutting projects to address government-wide risks
  • DATA Act
  • IT Security
  • Pandemic response audit work

Learning Objectives:

  • Risk areas that the federal audit community is closely monitoring.
  • DATA Act audit status in the OIG community
  • Audit community efforts to address challenges presented by the pandemic

8/17 - ET

GAE2125. GASB Accounting Hot Topics

Alan Skelton

- Chair | Governmental Accounting Standards Board

This hot topic session will provide an introduction to the new Director of Research and Technical Activities. The session will also provide an overview of projects nearing completion, such as Compensated Absences and Accounting Changes and Error Corrections, as well as some projects still in progress.


Learning Objectives:

  • To gain an overall understanding of scope, objectives, and tentative Board decisions of projects recently issued for public comment.
  • To gain an understanding of the scope, objectives, and status of hot topics still in progress.

8/17 - ET

GAE2126. Managing Employees in A Virtual World

Jonathan Kraftchick

- Partner | Cherry Bekaert LLP
Remote work has been around for decades, but all of a sudden, we’ve found ourselves struggling with the best ways to manage our people when we don’t see them face to face everyday. As our lives begin to feel more familiar and we rethink what work will look like, it’s clear that building skills on how to manage a remote workforce is more important than it ever has been.

Learning Objectives:

  • Increase awareness of common biases we have toward the remote workforce
  • Utilize motivation techniques for virtual team members
  • Discuss top actions that make for great virtual team leaders