GASB Statement No. 68 changes the playing field for government
organizations. Learn about the landmark pension accounting changes and
how they change the accounting and financial reporting of pension
benefits. Practical examples illustrate the new accounting requirements
and more extensive note disclosures along with required supplementary
information. You’ll enhance your understanding of these significant
changes by working through case studies which address best practice
solutions when auditing state and local governments with agent and
cost-sharing plans.
Learning Objectives
Describe new accounting requirements for single employer, agent multiple-employer, and cost-sharing multiple-employer plans.
Understand the substantial changes to methods and assumptions used to determine actuarial information.
Explain how net pension liability (asset), pension expense, and deferred outflows of resources and deferred inflows of resources related to pensions are calculated and derived.
Understand the role of management specialists, auditor specialists, and service organizations, and the related audit implications.
Distinguish the responsibilities of plan management, the plan's auditor, employer management, and the employer's auditor in the context of audits of government employers.
Apply best practice solutions in single employer, agent multiple-employer, and cost-sharing multiple-employer plan audit engagements.
Audit pension plan disclosures.
Major Topics
GASB Statement No. 68 accounting by governmental employers
Best practice solutions for auditing single and multiple-employer plans
Pension plan disclosures
Provider
AICPA
Course Level
Intermediate
Professional Area of Focus
Accounting & Auditing
Government
CPE Field of Study
Accounting (Governmental)
2
Auditing (Governmental)
2
Who Should Attend
Auditors and financing managers responsible for the accounting and reporting of state and local governments, agencies, divisions and teams
Instructor(s)
Daniel Bradley
Prerequisites
Prior experience with governmental accounting and reporting
