CPAR GOV - Auditing Practice  |  Format: Flash

Concluding an Audit: Takeaways from the DoD Experience

Course Overview
Even as the federal government struggles with a shutdown over continuing appropriations resolutions, there is good news for accountants and auditors: the U.S. Department of Defense completed its first-ever total audit, covering almost $2 trillion in DoD assets. According to Jeffrey Green, a partner in the firm of Kearney & Company, the successful conclusion of the military and civilian audits in 2018 brings the federal government much closer to full accountability of its finances and processes.

Learning Objectives
Upon successful completion of this segment, you should be able to:

  • Identify how the 2018 audit of the Department of Defense differed from previous audits;
  • Determine what an NFR is and what its role is in the audit process;
  • Distinguish how often the AICPA updates its auditing standards from how often GAO updates its yellow book; and
  • Explain how and why the accounting rules allow government agencies to redetermine the historical cost of property they purchased.

    Catalog Number: CPAR1376-FM
    CPE Credits: 2 Registry / 2 QAS
    CPAR Government/Not-For-Profit
    Advanced Preparation:
    Work experience in governmental accounting or auditing, or an introductory course in governmental auditing.
    Course Level: Update
    Field of Study: Auditing - Governmental
    Content Partner: CPAR Government/Not-For-Profit
    QAS: QAS Certified based on 50 minute hours.
    Course Type: Self-Study
    Minimum Passing Grade: 70%
      You are allowed 2 attempts to pass the final exam in a 30 day period. You will be locked out of the final for 30 days after any second failure.
    Soft/Hardware Reqs.:  Adobe Acrobat® Reader for the .pdf files
     Adobe® Flash® Player 9 or higher
     56k or Greater Internet Connection
     Modern DHTML Compatible Browser
     Ram: 256 MB minimum
     Sound card with speakers/headphones
     Windows or Mac OS
    Release/Expiration Dates: Mar 25, 2019 / May 06, 2021