Date(s):

05/13/2013

Registration Open:

7:30 AM - 8:15 AM

Time:

8:15 AM - 4:35 PM

Meeting Type:

Conference

CPE Credit:

4.00

Field(s) Of Study:

1.5 Accounting (Government/Yellow Book) 3.5 Auditing (Government/Yellow Book) Concurrent Sessions: Accounting (Government/Yellow Book), Auditing (Government/Yellow Book), Behavioral Ethics, Finance

Level of Knowledge:

Update

Price:

Member: $340.00
Nonmember: $425.00

Individual Discounts:

Not Available

Group Discounts:

Not Available

Overview

Conference Agenda

7:30 am – 8:15 am
Registration and Continental Breakfast

8:15 am – 8:30 am WELCOME
Conference Chair: Irwin A. Lyons, CPA, MBA ,Miller Cooper & Co, Ltd, Deerfield, IL

8:30 am – 9:45 am
GASB Update

Field of Study: 1.5 Accounting (Government/Yellow Book)
• Get the latest update on the activities at the Governmental Accounting Standards Board.
• Obtain a better grasp of the requirements in recent issues and recent affective
pronouncements.
• Receive an overview of the projects currently on the GASB’s active agenda.
Ken Schermann, CPA , Senior Technical Advisor, Government Accounting Standards Board,
Norwalk, CT

9:45 am – 10:00 am
Networking Break

10:00 am – 10:50 am

Audit Standards Update
Field of Study: 1 Auditing (Government/Yellow Book)
• Understand the changes to audit standards as impacted by the clarity project.
• Discuss AUC Section 600, Audits of Group Financial Statements as it relates to state
and local government entities.
• Learn how to use SSAE #16, Reporting on Controls at a Service Organization.
• Consider the use of specialists both internal and external during an audit.
Sean M. Walker, CPA, CGFM, CGMS, Partner-in-Charge, State and Local Government,
CliftonLarsonAllen LLP, Milwaukee, WI

10:50 am – 12:05 pm
Finding Fraud–Past, Present, and Future
Field of Study: 1 Auditing (Government/Yellow Book)
• Learn why many auditors feel that the public’s expectations for auditors to find fraud is
unreasonable.
• Explore the profession’s history in the fraud detection arena–from the very first auditors to
where we are today in terms of successes, failures, and expectations.
• Hear predictions of what the future will bring in terms of empowering government
auditors to find more fraud.
David L. Cotton, CPA, CFE, CGFM, Chairman, Cotton & Company LLP, Alexandria, VA

12:05 pm – 12:50 pm
Networking Lunch


12:50 pm – 1:40 pm
Yellow Book/ Independence

Field of Study: 1 Auditing (Government/Yellow Book)
• Apply 2011 GAGAS auditor independence standards to yourself and your team.
• Choose methods for documenting compliance with the standard.
• Review common independence dilemmas that confront CPAs in public practice.
Leita Hart-Fanta, CPA, CGFM, CGAP, Owner, Yellowbook-CPE.com, Austin, TX

1:45 pm – 2:35 pm CONCURRENT SESSION I
A. GASB’s New Pension Standards

Field of Study: 1 Accounting (Government/Yellow Book)
• Discuss the state of employee pension plans, one of the hottest topics in state and local government today.
• Review GASB’s recently-issued new standards for both pension plans and governmental employees.
• Find out how the new standards will change the amounts recognized and the disclosures that should be presented.
Ken Schermann, CPA, Senior Technical Advisor, Government Accounting Standards Board, Norwalk, CT

B. Benford's Law–A Valuable Audit Tool
Field of Study: 1 Auditing (Government/Yellow Book)
• Learn what Benford’s Law is and see how it can be used to reveal bogus information and made-up data.
• See why accountants and auditors should understand how to use this valuable audit tool.
David L. Cotton, CPA, CFE, CGFM, Chairman, Cotton & Company LLP, Alexandria, VA

2:35 pm – 2:50 pm
Networking Break

2:50 pm – 3:40 pm CONCURRENT SESSION II
A. GASB Pension Standard Implementation–an Illinois Perspective on the IMRF, Firefighters and Police Pension Funds

Field of Study: 1 Accounting (Government/Yellow Book)
• Focus on key implementation issues for auditors and financial statement preparers to consider when addressing GASB Statements 67 & 68.
• Learn what IMRF and the Department of Insurance will provide to the local government officials and the steps that the local government and the auditor will need to take to meet the requirements of reporting and disclosure of the GASB Statements.
• Hear a brief presentation from each panel member and participate in a Q & A session.
Moderator: Bert Nuehring, CPA , Partner, Crowe Horwath LLP, Oak Brook, IL
Brian W. Caputo, CPA, MS, MPA, Chief Financial Officer/Treasurer, City of Aurora, Aurora, IL
Richard J. DeCleene, CPA, Chief Financial Officer, Illinois Municipal Retirement Fund, Oak Brook, IL
Jason L. Franken, FSA, EA , Consultant, Foster & Foster Inc., Lincolnshire, IL
Travis March, Deputy Director, Division of Public Pension, Illinois Department of Insurance, Springfield, IL

B. A-133 Audit Findings
Field of Study: 1 Auditing (Government/Yellow Book)
• Develop compliance and internal control findings that meet GAGAS and A-133.
• Discern whether a finding is necessary given various scenarios.
• Apply simple guidelines that create meaningful findings quickly.
Leita Hart-Fanta, CPA, CGFM, CGAP , Owner, Yellowbook-CPE.com, Austin, TX

3:45 pm – 4:35 pm CONCURRENT SESSION III
A. Building Organizational Ethics

Field of Study: 1 Behavioral Ethics
• Learn how you can reinforce your organization’s ethics policies with your employees and business partners.
• Explore ways to get individuals to take a leadership position in your organization’s ethics.
• Discuss how to get management to support the ethics policies of the organization.
David H. Sinason, CPA, CIA, CFE, CFSA, CRMA, PricewaterhouseCoopers Professor of Accountancy, Northern Illinois University, DeKalb, IL

B. Bond Financing and Continuing Disclosure Reporting
Field of Study: 1 Finance
• Learn about the Municipal Securities Rulemaking Board (MSRB) and Rule 15c2-12.
• Discuss continuing disclosure and learn who is required to make it.
• Review examples of material events that require disclosure.
• Examine the municipal issuer’s responsibilities under MSRB rules.
• Discover some of the current issues being considered by the MSRB.
• Gain an understanding of the most important factors affecting a municipal bond rating.
• Discuss the factors that are important to potential broker dealers and investors in a municipality’s bond issue.
• Hear some of the current Federal and State considerations affecting the Illinois municipal bond market.
Daniel D. Forbes, JD, MBA, CIPFA, Vice President and Owner, Speer Financial Inc., Chicago, IL

4:35 pm
Conference Adjourns

Speaker(s)