The audit of the City of Killeen's financial statements for the year ended September 30, 2016 resulted in unmodified opinions and no findings. The auditors found no issues with internal controls over financial reporting, compliance with laws and regulations, or compliance with requirements for major federal programs. Management's estimates and judgments were deemed reasonable. The auditors encountered no difficulties during the audit and had no independence issues.
NGMA Monthly Training Luncheon
October 21, 2015
Are your Internal Controls in Order? Updating financial management policies to ensure compliance with the new UGG.
Here's a summary of how review engagements are changing once SSARS 21 is implemented. The effective date of SSARS 21 is for periods ending on or after December 15, 2015.
NGMA Monthly Training Luncheon
October 21, 2015
Are your Internal Controls in Order? Updating financial management policies to ensure compliance with the new UGG.
Here's a summary of how review engagements are changing once SSARS 21 is implemented. The effective date of SSARS 21 is for periods ending on or after December 15, 2015.
This webinar provided a 401(k) and pension plan accounting and auditing update for plan sponsors, including management, accountants, and Human Resource professionals. In addition, the presentation provided an update on recent Employee Retirement Income Security Act (ERISA) criminal cases, the outcomes of those cases, and the prosecution.
The Exceptions Based Annual Plan – Some Stakes in the GroundSOLGMNZ
Jonathan Salter, Partner, Simpson Grierson
The 2016/17 annual plan will be the first to operate under the “exceptions” regime of the Local Government Amendment Act 2014. Jonathan
2018 Community Health Center Accounting Standards UpdateJones & Roth
In this session, we will discuss several sweeping accounting standards updates that will specifically affect Community Health Centers. Specifically, there are three new upcoming standards updates that will require changes in financial reporting and presentation; recording of leases, revenue recognition from contracts, and changes in financial statement presentation for non-profit organizations.
Auditing Cayman Funds and Crypto FundsDavid Walker
Presentation by Moore Stephens Cayman for the Cayman Islands Institute of Accountants on International Standards on Auditing for Cayman Funds & Cryptocurrency Funds
The future of government fiscal reporting - Vikki Lewis, United KingdomOECD Governance
This presentation was made by Vikki Lewis, United Kingdom, at the 17th Annual Meeting of OECD Senior Management Officials held at the OECD, Paris, on 2-3 March 2017
This webinar provided a 401(k) and pension plan accounting and auditing update for plan sponsors, including management, accountants, and Human Resource professionals. In addition, the presentation provided an update on recent Employee Retirement Income Security Act (ERISA) criminal cases, the outcomes of those cases, and the prosecution.
The Exceptions Based Annual Plan – Some Stakes in the GroundSOLGMNZ
Jonathan Salter, Partner, Simpson Grierson
The 2016/17 annual plan will be the first to operate under the “exceptions” regime of the Local Government Amendment Act 2014. Jonathan
2018 Community Health Center Accounting Standards UpdateJones & Roth
In this session, we will discuss several sweeping accounting standards updates that will specifically affect Community Health Centers. Specifically, there are three new upcoming standards updates that will require changes in financial reporting and presentation; recording of leases, revenue recognition from contracts, and changes in financial statement presentation for non-profit organizations.
Auditing Cayman Funds and Crypto FundsDavid Walker
Presentation by Moore Stephens Cayman for the Cayman Islands Institute of Accountants on International Standards on Auditing for Cayman Funds & Cryptocurrency Funds
The future of government fiscal reporting - Vikki Lewis, United KingdomOECD Governance
This presentation was made by Vikki Lewis, United Kingdom, at the 17th Annual Meeting of OECD Senior Management Officials held at the OECD, Paris, on 2-3 March 2017
1.)Four Types of Audit Report by Independent Auditors
2.)The Steps to be Done by the Auditors Before They Receive New Engagement With Clients
3.)The Contents Emphasis in the Audit Engagement
auditing is an examination of accounting
records undertaken with a view to establish whether they correctly and completely reflect the transactions to which they relate.
Here are some financial reporting links to help you see the Financial status of the State of Vermont.
https://auditor.vermont.gov/about-us/strategic-plans-and-performance-reports
The State Budget Links:
https://auditor.vermont.gov/about-us/budget
Presentation by Jared Jageler, David Adler, Noelia Duchovny, and Evan Herrnstadt, analysts in CBO’s Microeconomic Studies and Health Analysis Divisions, at the Association of Environmental and Resource Economists Summer Conference.
Understanding the Challenges of Street ChildrenSERUDS INDIA
By raising awareness, providing support, advocating for change, and offering assistance to children in need, individuals can play a crucial role in improving the lives of street children and helping them realize their full potential
Donate Us
https://serudsindia.org/how-individuals-can-support-street-children-in-india/
#donatefororphan, #donateforhomelesschildren, #childeducation, #ngochildeducation, #donateforeducation, #donationforchildeducation, #sponsorforpoorchild, #sponsororphanage #sponsororphanchild, #donation, #education, #charity, #educationforchild, #seruds, #kurnool, #joyhome
Monitoring Health for the SDGs - Global Health Statistics 2024 - WHOChristina Parmionova
The 2024 World Health Statistics edition reviews more than 50 health-related indicators from the Sustainable Development Goals and WHO’s Thirteenth General Programme of Work. It also highlights the findings from the Global health estimates 2021, notably the impact of the COVID-19 pandemic on life expectancy and healthy life expectancy.
Jennifer Schaus and Associates hosts a complimentary webinar series on The FAR in 2024. Join the webinars on Wednesdays and Fridays at noon, eastern.
Recordings are on YouTube and the company website.
https://www.youtube.com/@jenniferschaus/videos
ZGB - The Role of Generative AI in Government transformation.pdfSaeed Al Dhaheri
This keynote was presented during the the 7th edition of the UAE Hackathon 2024. It highlights the role of AI and Generative AI in addressing government transformation to achieve zero government bureaucracy
Donate to charity during this holiday seasonSERUDS INDIA
For people who have money and are philanthropic, there are infinite opportunities to gift a needy person or child a Merry Christmas. Even if you are living on a shoestring budget, you will be surprised at how much you can do.
Donate Us
https://serudsindia.org/how-to-donate-to-charity-during-this-holiday-season/
#charityforchildren, #donateforchildren, #donateclothesforchildren, #donatebooksforchildren, #donatetoysforchildren, #sponsorforchildren, #sponsorclothesforchildren, #sponsorbooksforchildren, #sponsortoysforchildren, #seruds, #kurnool
This session provides a comprehensive overview of the latest updates to the Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (commonly known as the Uniform Guidance) outlined in the 2 CFR 200.
With a focus on the 2024 revisions issued by the Office of Management and Budget (OMB), participants will gain insight into the key changes affecting federal grant recipients. The session will delve into critical regulatory updates, providing attendees with the knowledge and tools necessary to navigate and comply with the evolving landscape of federal grant management.
Learning Objectives:
- Understand the rationale behind the 2024 updates to the Uniform Guidance outlined in 2 CFR 200, and their implications for federal grant recipients.
- Identify the key changes and revisions introduced by the Office of Management and Budget (OMB) in the 2024 edition of 2 CFR 200.
- Gain proficiency in applying the updated regulations to ensure compliance with federal grant requirements and avoid potential audit findings.
- Develop strategies for effectively implementing the new guidelines within the grant management processes of their respective organizations, fostering efficiency and accountability in federal grant administration.
Jennifer Schaus and Associates hosts a complimentary webinar series on The FAR in 2024. Join the webinars on Wednesdays and Fridays at noon, eastern.
Recordings are on YouTube and the company website.
https://www.youtube.com/@jenniferschaus/videos
2. Audit Process
• Internal audit planning and scheduling began September 2016
• Fieldwork and risk assessment was performed in January 2017
including:
• Walkthrough of accounting controls over significant transaction cycles:
A. Cash Disbursements
B. Payroll
C. State and Federal Cash Receipts
• Test of accounting controls over:
A. Payroll
B. Cash Disbursements
• Identification and testing of major federal and state financial
assistance program and test controls over compliance
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4. Audit Results
• We will issue the Independent Auditor’s Report on the financial
statements
Unmodified Opinion
• We will issue the Independent Auditor’s Report on Internal Control over
Financial Reporting and on Compliance and Other Matters Based on an
Audit of Financial Statements Performed in Accordance with Government
Auditing Standards
No findings noted
• We will issue the Independent Auditor’s Report on Compliance for Each
Major Program and on Internal Control Over Compliance Required by
Uniform
Unmodified Opinion
No findings noted
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6. Required Communications to Those in
Charge of Governance
Communication Results
Auditor’s responsibility under
generally accepted auditing
standards (GAAS)
The financial statements are the responsibility of
the City. Our audit was designed in accordance
with GAAS in the U.S. and provides for
rather than absolute assurance that the financial
statements are free of material misstatement.
responsibility is to express an opinion about
whether the financial statements prepared by
management with your oversight are fairly
presented, in all material respects, in conformity
with U.S. generally accepted accounting
principles. Our audit of the financial statements
does not relieve you or management of your
responsibilities.
The audit of the fiscal year 2016 financial
statements will issue a unmodified “clean”
opinion.
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7. Required Communications to Those in
Charge of Governance
Communication Results
Auditor’s Responsibility under
Government Auditing Standards
In addition to the GAAS responsibilities, we are
required to issue a written report on our
consideration of internal controls and identified
significant deficiencies, including material
weaknesses, if any. Our reports do not provide
assurance on internal controls. We design our
audit to provide reasonable assurance of
detecting material misstatements resulting from
noncompliance with provisions of contracts or
grant agreements that have a direct or material
effect on the financial statements. We issued a
written report on the results of these procedures;
however, our report does not express an opinion
on compliance.
No findings to note.
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8. Required Communications to Those in
Charge of Governance
Communication Results
Auditor Responsibility under
Uniform Guidance
Our testing includes all major federal and state
financial assistance programs. We report on
testing, and disclose significant deficiencies in
internal control over compliance, including
material weaknesses we identify. Our report
not provide assurance on internal control over
compliance. We performed procedures for the
purpose of expressing an opinion on whether
major federal and state financial assistance
programs have been administered in compliance
with applicable laws and regulations.
The audit of the fiscal year 2016 major federal
issue a clean opinion.
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9. Required Communications to Those in
Charge of Governance
Communication Results
Unusual transactions and the
adoption of new accounting
principles
The significant accounting policies used by the
Council are described in Note 1 to the financial
statements.
There were no new GASB’s that had a significant
impact on the Councils’ financial statements
during the year.
We noted no transactions entered into by the
Council during the year for which there is a lack
of authoritative guidance or consensus.
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10. Required Communications to Those in
Charge of Governance
Communication Results
Fraud and illegal acts No material errors, irregularities, or illegal acts
were noted.
Material weakness in internal control No material weaknesses noted.
Other information contained in documents
containing audited financial statements
We provided an “in relation to opinion” on
supplementary information accompanying the
financial statements. We performed limited
procedures on the MD&A and did not provide
any assurance on this information. Non-major
combining statements and the Schedules of
Indirect Costs and Employee Benefits were
compared and reconciled to underlying
accounting and other records used to prepare
basic financial statements.
Management judgments and accounting
estimates
Management’s estimates were evaluated and
determined to be reasonable in relation to the
financial statements as a whole.
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11. Required Communications to Those in
Charge of Governance
Communication Results
Difficulties encountered No difficulties or disagreements arose during the
course of our audit.
Management representations We requested certain representations from
management that were included in the
management representation letter.
Management consultations We are not aware of management consultations
with other accountants for a second opinion.
Auditor independence No independence issues noted.
Audit adjustments Professional standards require us to accumulate
all known and likely misstatements identified
during the audit, other than those that are trivial,
and communicate them to the appropriate level
of management. There were no significant audit
adjustments to report.
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12. Required Communications to Those in
Charge of Governance
Communication Results
Other material written
communications between Weaver
Tidwell, L.L.P., and the Council
Nothing to note
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