Participants will earn 3.0 CPE Credits or 3.0 CEU credits
Field of Study: Accounting (Governmental)
This course is designed to provide an overview of the importance of internal controls over financial reporting, auditor and auditee responsibilities of an audit engagement, and how to use the Georgia Department of Audits and Accounts checklist as a control tool when preparing financial statements.
Upon completion of the course, the participant will be able to:
recite audit requirements for Georgia local governments, schools, and the State of Georgia
identify the auditor and auditee responsibilities of an audit engagement
explain management's assertions regarding the recognition, measurement, presentation, and disclosure of information in the financial statements
identify the steps necessary to take responsibility for your financial statements
discuss the use of the Georgia Department of Audits and Accounts checklist as a control tool to review your entity's financial statements
define internal control
identify the components of a comprehensive framework of internal control and explain the importance of internal controls over financial reporting
recall the elements of audit findings
discuss the submission of audit reports
Prerequisites: Basic knowledge of accounting and auditing
Who should attend? This session is for anyone involved in preparing or auditing state and local financial statements
Advance Preparation: None
Program Level: Intermediate
Delivery Method: QAS Self Study
Final exam is required with a minimum score of 70%, one retest is allowed. Should you not pass the second attempt, you will be required to register for the course again.
Complete the course's required online quizzes and exercises within 30 days of receiving the "Welcome" email with course URL, username and password information.
University of Georgia, Carl Vinson Institute of Government, is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: https://www.nasbaregistry.org