2024 Revision to Government Auditing Standards Impact

Overview

This course will provide an update of Government Auditing Standards as a result of the GAO’s issuance of the 2024 Revision to Government Auditing Standards. The course will focus on the Revisions impact on financial statement audits. The course will also focus on the impact of Quality Management Standards as well as clarify as to when the concept of reporting key audit matters might apply for financial audits. This event may be a rebroadcast of a live event and the instructor will be available to answer your questions during the event.

Objectives

After attending this presentation, you will be able to...

Identify requirements related to audit reporting when the requirements for reporting on key audit matter apply
Recall core concepts fundamental to determining and documenting independence
Recognize supplemental requirements imposed by the 2024 Yellow Book during the performance of a financial statement audit
Recall significant changes made by the 20248 version of Government Auditing Standards
Recognize the impact of the Quality Management Standards to a financial statement audit conducted under the 2024 Revision to Government Auditing Standards

Highlights

The major topics that will be covered in this course include:

Key changes made by the 2024 Revision to Government Auditing Standards
Review when the GAGAS requirements are applicable to a financial statement audit
When reporting on key audit matters may apply in a GAGAS audit
Clarifications related to the independence requirements in a financial statement audit imposed by the 2024 Yellow Book
Review the impact of the Quality Management Standards to a financial statement audit conducted under the 2024 Revision to Government Auditing Standards
Other important matters contained in the 2024 Government Auditing Standards related to financial statement audits

Designed For

Anyone involved in GAGAS (Yellow Book) audits

Prerequisites

None

Preparation

None

Notice

You will receive an email from CPA Crossings via Webex with instructions to access the webinar.

Fees

Credits

Level

Code

Vendor

Fields of Study

Leader(s):

Daniel Bradley

Leader Bios

Daniel Bradley

AICPA Instructor Biography Daniel W. Bradley, CPA Young, Oakes, Brown, & Co., P.C./Altoona, Pennsylvania Dan Bradley is a principal with the regional certified public accounting firm of Young, Oakes, Brown & Co. P.C. in Altoona, Pennsylvania. He has extensive experience in performing audits of for-profit as well as governmental and not-for-profit organizations subject to the Single Audit Act and OMB Circular A-133. In addition, he has extensive experience dealing with entities (governmental units, not-for-profit organizations, and for-profit organizations) subject to the requirements of Government Auditing Standards. Dan holds a Commonwealth of Pennsylvania license to practice as a Certified Public Accountant, and received his Bachelor of Science degree in Accounting from Pennsylvania State University where he graduated with highest distinction. Mr. Bradley is a member of the American Institute of Certified Public Accountants (AICPA), the Pennsylvania Institute of Certified Public Accountants (PICPA), and the Institute of Management Accountants. He is also a long time member of the PICPA’s Local Government Accounting and Auditing Committee. As of June 1, 2007, Mr. Bradley was elected to the PICPA’s Ethics Committee. Mr. Bradley has also served as past president of his IMA chapter, as well as serving as a member of the Executive Committee of the Pennsylvania Economy League. Mr. Bradley was a past President of the Altoona Chapter of the American Business Club as well as being a member of his local March of Dimes board. In addition, Mr. Bradley has previously been an adjunct associate professor at Saint Francis College in Loretto, Pennsylvania where he is a past recipient of the Continuing Education’s Instructor of the Year Award. Mr. Bradley has been a frequent speaker and panelist on various governmental and not-for-profit programs for the AICPA, numerous state societies, the St. Francis College’s CPE Department, and numerous local entities. Mr. Bradley is a past recipient of the Continuing Professional Education Division of the American Institute of CPA’s “Outstanding Instructor” award for courses in the Commonwealth of Pennsylvania.

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