There are important risks and opportunities facing the economy, financial markets, and businesses. This talk includes an evaluation of recent trends, current data, and future risks and opportunities. This talk will also include critical strategic recommendations and actionable takeaways and recommendations.

In this discussion, join economist and futurist Jason Schenker who will discuss inflation and interest rates as well as risks that threaten growth and corporate profits. Mr. Schenker will also discuss labor market data, apparently mixed labor market signals, and the war for talent. Finally, Mr. Schenker will also delve into the subject of Cold War Two®, the end of globalization, and associated supply chain risks.

Looking into the future of technology and work, Mr. Schenker will discuss several critical long-term trends in demographics and technology, including how ChatGPT and other AI technologies will be valuable and increasingly common. Mr. Schenker will share actionable winning strategies for the current uncertain environment now and for the years ahead.

Learning Objectives:

• Identify current economic and financial market trends and their potential impacts on business.
• Analyze key upside and downside risks to the economic and financial market outlook.
• Recognize Cold War Two® and associated geopolitical risks to the global economy and financial outlook.
• Identify the most important labor market trends and dynamics, including the impact on the war for talent.
• Identify opportunities to use generative AI, like ChatGPT, while maintaining due care and fiduciary duties.

The Federal Accounting Standards Advisory Board (FASAB) serves the public interest by improving federal financial reporting through issuing generally accepted accounting principles (GAAP) and providing guidance after considering the needs of external and internal users of federal financial information. In this session, we will provide an overview of FASAB and present a general update on FASAB projects, recently issued guidance, and stakeholder engagements.

Learning Objectives:

• Recognize the FASAB GAAP hierarchy and identify how FASAB meets financial statement user needs through its due process
• Identify and discuss the status of all FASAB active projects and recently issued guidance
• Identify and discuss the ways that FASAB engages with stakeholders for developing guidance, providing training, and other outreach efforts

This session will cover projects on GASB's current technical agenda, including proposals that have been forth by GASB in due process documents.

Learning Objectives:

• Identify projects on GASB's technical agenda.
• Identify current proposals to update accounting standards.

The presentation will discuss the latest trends in fraud to impact the public sector.  Through use of actual investigation case studies and examples, we will discuss the most common fraud schemes impacting the public sector.  The presentation will also discuss effective internal controls that can be used to deter various common fraud schemes and will illustrate the use of data analytics in the detection of fraud.

Learning Objectives:

• Identify the most prevalent fraud schemes that impact the public sector.
• Identify common red flags for those fraud schemes.
• Identify effective internal controls to deter those fraud schemes, and data analytics that can be used to assist in the detection of those fraud schemes.

This session provides an overview of new and upcoming auditing and attest standards that may impact an auditor or audit organization in the next year. Both new guidance from the Auditing Standards Board (ASB) and the GAO will be addressed.

Learning Objectives:

• Identify new and pending AICPA auditing standards
• Identify new and pending government auditing standards (GAGAS)

Conducting Oversight in the 21st Century - how we are working together to impact the efficiency and effectiveness of government.

Learning Objectives:

• Identify background and updates on Inspector General Community.
• Recognize impact of Oversight Work.
• Recognize Pandemic Oversight - the Impact of the PRAC
• Identify where we are going from here.

This session will provide an overview of key implementation considerations for GASB Standards effective beginning fiscal years ending June 30, 2023 including GASB Statement No. 94; Public-Private and Public-Public Partnerships and Availability Payment Arrangements and GASB Statement No. 96; Subscription Based Information Technology Arrangements.

Learning Objectives:

• Identify and discuss the audit and accounting implications related to the implementation of new GASB Statements.
• Apply lessons learned through the implementation of other key GASB Statements.

Single audits continue to be a hot topic for governments. Federal funding subject to single audit continues at historic levels and, while winding down, COVID-19 funding continues to be subject to audit for many entities. This session will cover updates in the 2023 Compliance Supplement, resources to help you complete your single audit and discuss nuances in federal funding.

Learning Objectives:

• Identify key information in the 2023 OMB Compliance Supplement
• Identify the latest federal funding nuances and related single audit implications
• Recognize news from the AICPA Governmental Audit Quality Center
• Identify single audit developments and the single audit landscape looking forward

The world moves at an incredible pace in our day and age. How does one keep up with it? How does one develop the skills to succeed in this world? Come join Jordan Morrow, the Godfather of Data Literacy, as he discusses the topic of data literacy. Jordan will touch upon what data literacy is, the world of data, and how to be more data driven. Jordan will also touch upon the world of data literacy and AI. Come join for a fun and engaging session!

Learning Objectives:

• Identify what is data literacy
• Recognize the world of data and the objective of using data to make decisions
• Identify what it means to be data driven and how to become more data driven
• Recognize the world of data literacy and AI

Learn about key developments impacting government, society, and the accountability community. The Comptroller General will review major challenges faced by the nation and how the audit and accountability community are responding. Topics will include the federal government’s unsustainable long-term fiscal path; accountability for major pandemic and post-pandemic spending programs; high risk programs, fraud and internal controls; and oversight of emerging cyber, science and technology areas.

Learning Objectives:

• Identify key issues highlighted by GAO’s work and challenges being tackled by the accountability community.

Learn about service organization relationships and your responsibilities as a user of third-party services. On completion of the training you will:

• Know the difference between a service organization and a subservice organization 
• Understand the risks associated with service organizations - specifically cloud service providers
• Be aware of user responsibilities and complementary user entity controls common to third-party arrangements
• Have knowledge of best practice monitoring activities over service organizations

Learning Objectives:

• Identify the difference between a service organization and a subservice organization
• Analyze the risks associated with service organizations
• Identify user responsibilities and complementary user entity controls
• Identify best practice monitoring activities over service organizations

Auditors and governments faced unprecedented circumstances the past few years and the current environment will continue to impact audits in 2023. 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.

Learning Objectives:

• Identify how the current environment is impacting the planning and risk assessment process for state and local government audits.
• Recall the latest findings identified in the peer review process.
• Recognize the content of the AICPA Audit Guides including new content that has been developed over the last few years and how you can leverage this great content to your advantage.
• Identify other challenges impacting SLG audits this year and how to best address them.

Single audits continue to be a hot topic for governments. Federal funding subject to single audit continues at historic levels and, while winding down, COVID-19 funding continues to be subject to audit for many entities. This session will cover updates in the 2023 Compliance Supplement, resources to help you complete your single audit and discuss nuances in federal funding.

Learning Objectives:

• Identify key information in the 2023 OMB Compliance Supplement
• Identify the latest federal funding nuances and related single audit implications
• Recognize news from the AICPA Governmental Audit Quality Center
• Identify single audit developments and the single audit landscape looking forward

Ransomware, a form of malicious software designed to encrypt files on a device and render data and systems unusable until ransom is paid, is a significant (and possibly, the most significant) cyber threat to both Federal and local public sector organizations. Ransomware threat actors have demonstrated a growing sophistication in their attacks, which has increased the threat to Federal agencies, as well as local governments, hospitals, schools, and emergency services. Attacks like these can create a significant negative impact on the ability to deliver citizen services. This discussion will explore the nature of the threat to the public sector and discuss efforts by CISA, FBI, and the Secret Service to provide assistance in preventing, and responding to, ransomware attacks.

Learning Objectives:

• Recognize the threat posed by ransomware.
• Identify the impact of ransomware on state and local government.
• Identify the resources the federal government offers to combat ransomware.

State and local governments stand to receive more than $54 billion over 18 years from legal settlements with the manufacturers, distributors, and retailers of prescription opioids. The complexity of the settlement provisions and differences in how states are handling the distribution of proceeds to localities have resulted in there being no single answer to the question, "How should my government account for and report the settlement money?" This session lays out the steps that governments and their auditors should take and the questions they should ask in order to determine the appropriate accounting and financial reporting standards to follow. 

Learning Objectives:

• Identify the key factors that determine the appropriate accounting
• Distinguish between the settlement provisions that are most relevant to the accounting standards
• Identify the applicability of exchange versus nonexchange transactions and program versus general revenue

This session will provide you a high-level overview of the independence and ethics standards when serving audit clients subject to Yellow Book requirements, including commonly asked questions and AICPA ethics activities and updates and hot topics relevant to the profession. We will review certain nonaudit services that are prohibited and others that maybe allowable once the services are evaluated under the Conceptual Framework. Discuss best practices and guidance for preparing related independence documentation. Review available resources to assist auditors in complying with the applicable independence standards.

Learning Objectives:

• Identify a high-level understanding of the Yellow Book independence standards
• Identify when to apply the Conceptual Framework when evaluating nonaudit services
• Recognize the AICPA’s recent affiliate definition to State and Local Governments
• Identify a high-level overview of AICPA ethics activities

This session will discuss how empowering auditors and investigators with data can help with risk assessment, refine testing, and make your work more efficient. In particular, we will walk through three main topics:

• How analytics support audit and investigative work
• How enhancing your personal data literacy benefits your work
• How to increase your comfort with data and analytics

Each topic will have concrete examples, and participants will have the background they need to get started on their data literacy journey.

Learning Objectives:

• Identify ways that data analytics and enhancing your personal data literacy can enhance audit and investigative work
• Identify actionable next steps for increasing your personal data literacy

Auditees may find the session useful as well. In addition to exploring some of the more significant implementation challenges and key auditor considerations, specifics topics to be covered include the following:

• Practical application tips on GASB's SBITA standards and similarities with GASB’s lease standard
• Auditing considerations for SBITA assets, liabilities, and other related financial statement amounts
• Helpful tips for auditors in developing an effective and efficient audit approach
• A summary of reporting matters relating to new standards
• Answers to common questions related to the new standards

Learning Objectives:

• Apply the single model for recording leases and SBITAs
• Differentiate implementation challenges related to GASB Statement No. 87 and GASB Statement No. 96
• Identify key auditor considerations
• Identify an effective and efficient audit approach

Performing a single audit can present unique challenges that are complex, infrequent and/or subject to significant auditor judgment. This session will provide essential information as you plan your 2023 single audits and will address commonly asked questions received by the GAQC, from members. The panelists will discuss best practices, practical applications and lessons learned.

Learning Objectives:

• Identify common single audit questions and determine answers based on guidance available
• Apply lessons learned, best practices and practical applications in performing a single audit

In today’s “new normal” environment, a remote or partially remote workforce is part of organizational reality. What works? What fails? This facilitated discussion covers the topic from both the human resources viewpoint and the employee's perspective.

The goal of this discussion is to empower staff to fit into the new hybrid workplace and build the skills and processes needed to be a part of a focused and productive hybrid team. Attendees will examine communication and conflict patterns that virtual teams fall into and discuss overcoming challenges that can damage high-performing teams.

 Finally, we will discuss strategies for building accountability into decisions so teams do what they say they will do, even from a distance.

Learning Objectives:

• Identify how staff can fit into the new hybrid workplace
• Identify the skills and processes needed to be a part of a focused and productive hybrid team
• Recognize challenges that can damage high-performing teams

Are you ready to comply with SAS No. 145? This session will focus on key risk assessment concepts and significant changes associated with SAS No. 145, including requirements related to the components of the entity’s system of internal control.

Learning Objectives:

• Recognize key risk assessment concepts in applying SAS No. 145 in identifying and assessing risks of material misstatement
• Interpret more significant risk assessment related changes associated with SAS No. 145
• Identify risk assessment procedures related to the various components of the entity’s system of internal control
• Recall when and how to evaluate design and determine the implementation of controls

The Deputy Controller will provide an overview of government-wide initiatives.

Learning Objectives:

• Identify government-wide initiatives

This session will cover projects on GASB's current technical agenda, including proposals that have been forth by GASB in due process documents.

Learning Objectives:

• Identify projects on GASB's technical agenda.
• Identify current proposals to update accounting standards.

Since it isn't possible to attend every session of the conference, participate in this session to hear summary-level highlights of the key points from every session in the conference! Also, have the chance to get your questions answered!

Learning Objectives:

• Identify attendee questions and have our expert panel provide answers.
• Identify key take-aways from the conference's sessions.