The 2011 conference, held in partnership with the Washington Society of CPAs,
will be held April 18 & 19, 2011 at the Courtyard Marriott in Tacoma, Washington.

Register online at www.wscpa.org/conferences

Agenda

Monday, April 18, 2011

Tuesday, April 19, 2011

GASB Update

With pressing issues on its technical agenda and several new standards that will affect Washington governments, it is important to stay abreast of the Governmental Accounting Standards Board (GASB) activities.  Learn what’s on the GASB technical agenda and explore the new standards on financial reporting entity, service concession arrangements, and the codification of base-line private sector standards that apply to governmental entities.  Hear about the Board’s proposals on pensions, the presentation of deferral accounts, and several other hot topic issues.

    (David Bean, Director of Research and Technical Activities, GASB)

Governmental Auditing Update

Uncover the latest developments affecting the audits of state and local government entities. Review the latest on the auditing standard-setting front and get a high-level summary of recent AICPA standards. Find out what’s new with single audits, Recovery Act implications, and the Yellow Book. Get an update on other governmental and compliance auditing initiatives and a status on the AICPA’s Governmental Audit Quality Center, plus a summary of GAQC tools.

    (Mary Foelster, CPA, Director, Governmental Auditing and Accounting, AICPA)

GASB Update (cont.)

    (David Bean, Director of Research and Technical Activities, GASB)

Performance Audit Frameworks

How can you conduct more focused, high-quality performance audits? Get a better understanding of the general frameworks of the government programs you are auditing and frameworks for conducting performance audits. This knowledge will allow you to set up more systematic approaches for assessing the adequacy of an agency’s “way of doing business,” and perform audits more effectively and efficiently

    (Barbara J. Hinton, Deputy Director for Performance Audit, Washington State Auditor’s Office)

Luncheon

The ERM-practicing Organization and the Role of the Accountant: A Work in Progress

How does the practice of ERM look in an organization? How can you create value with ERM and evaluate ERM activities? Get the answers to these and other important questions related to ERM. Learn the basic elements of ERM, understand how ERM may be used by organizations to create value, hear examples of how ERM is being used in Washington state government, and appreciate how to evaluate ERM activities.

    (Drew Zavatsky, Loss Prevention Coordinator, Washington State Office of Financial Management, Risk Management Division)

Concurrent Session A

A-1  |  The State of the State Economy

Get an overview of the current state of the U.S. and Washington economies, with a revenue forecast for Washington State. Hear Dr. Raha’s economic outlook and find out what to expect during the recovery.

    (Arun Raha, Ph.D., Chief Economist & Executive Direction, Economic Revenue Forecast Council)

A-2  |  Indirect Cost Rates and Cost Allocation Plans – What To Do and What Not To Do

It is critical to be reimbursed for the proper amount of indirect costs and allocable shared costs, as well as to avoid compliance pitfalls when charging these types of costs. The State Auditor’s Office (SAO) has recently completed an audit of eight local governments that has shed some light on some common pitfalls and some best practices that local governments in the State of Washington should understand. Review basic indirect cost and cost allocation plan principles. Identify and avoid common pitfalls discovered by the SAO. Explore best practices related to indirect costs and cost allocation plans. Take advantage of this opportunity to hear tips directly from the SAO.

     (Chris Cortines, CPA, Washington State Auditor’s Office)

     (Vincent Stevens, CPA, Shareholder, Clark Nuber PS)

As the health care legislation unfolds, many changes are looming for employers across all industry sectors. Discover the changes that employers must prepare to address. Get an overview of the reform and a timeline. Review tax and accounting specifics, insurance reform realities and big picture considerations, including the politics of reform.

     (Chris Rivard, CPA, Partner, Moss Adams LLP)

Concurrent Session B

B-1  |  Using Risk Assessments to Develop Work Plans and Audits

Learn how an IG shop uses risk assessment to plan and prioritize audits. Learn why risk management is used in the federal government, how auditors can add value with ERM, using ERM as the basis for the work plan, and applying ERM in the audit process.

    (Lori Pilcher, MBA, CPA, CIA, Assistant Inspector General for Grants, Office of Inspector General)

B-2  |  Capital Markets and Financing: What’s Happening?!

State and local governments are almost universally under financial distress. Discover the current financial products available to local governments. Get valuable details on credit access, including credit rating issues. Discuss the state of the long term and short term capital markets and the interest rate environment. Explore available financing tools to meet short term and long term capital needs. Discuss the related disclosure and accounting issues.

    (Lindsay Sovde, MBA, Seattle-Northwest Securities)

    (Cynthia Weed, LM, Partner, K&L Gates LLP)

The landscapes of the organizations you audit have changed dramatically in the last 18-24 months.  Many organizations provide the same services with significantly reduced staff and tighter budgets. Discover the current trends related to fraud, and why now, more than ever, you must seriously consider fraud in every engagement.  Discuss key red flags of fraud related to asset misappropriation, corruption, and fraudulent financial statements. Learn practical tips for assessing fraud risk for every organization.

     (Tiffany Couch, CPA/CFF, CFE Founder, Acuity Group PLLC)

Concurrent Session C

C-1  |  Using Risk Assessments to Develop Work Plans and Audits (cont.)

    (Lori Pilcher, MBA, CPA, CIA, Assistant Inspector General for Grants, Office of Inspector General)

C-2  |  Coping with the Down Economy

Learn how organizations have responded to revenue challenges, cost cutting and long range budget and forecasting issues.

     (Michael Bailey, CPA, MBD, Director, City of Redmond Finance and Information Services)

    (Marty Brown, Director, Office of Financial Management)

    (Kevin Phelps, Deputy County Executive, Pierce County)