impact of the new clarity standards on governmental audits – session objective
DESCRIPTION
Impact of the New Clarity Standards on Governmental Audits Presented by Beila Sherman, CPA and Enrique Llerena, CPA. Impact of the New Clarity Standards on Governmental Audits – Session Objective. - PowerPoint PPT PresentationTRANSCRIPT
![Page 1: Impact of the New Clarity Standards on Governmental Audits – Session Objective](https://reader035.vdocuments.site/reader035/viewer/2022070423/56816758550346895ddc1626/html5/thumbnails/1.jpg)
Impact of the New Clarity Standards on Governmental
Audits
Presented by Beila Sherman, CPA
andEnrique Llerena, CPA
![Page 2: Impact of the New Clarity Standards on Governmental Audits – Session Objective](https://reader035.vdocuments.site/reader035/viewer/2022070423/56816758550346895ddc1626/html5/thumbnails/2.jpg)
2
Impact of the New Clarity Standards on Governmental Audits – Session Objective
To provide an overview of the various changes in auditing standards issued by the AICPA and their impact on upcoming governmental audits
Effective for years ending on or after December 15, 2012 (9/30/2013 Year Ends)
![Page 3: Impact of the New Clarity Standards on Governmental Audits – Session Objective](https://reader035.vdocuments.site/reader035/viewer/2022070423/56816758550346895ddc1626/html5/thumbnails/3.jpg)
3
The Clarified Standards
The codification of the clarified standards uses section numbering established by SAS No. 122, Statements on Auditing Standards: Clarification and Recodification, and contains “AU-C” section numbers.
“AU-C” is a temporary identifier to avoid confusion with references to AU sections.
“AU-C” remains effective through 2013.
3
![Page 4: Impact of the New Clarity Standards on Governmental Audits – Session Objective](https://reader035.vdocuments.site/reader035/viewer/2022070423/56816758550346895ddc1626/html5/thumbnails/4.jpg)
4
The Clarity Standards Format Introduction Statement of objective; Definitions, where relevant; Requirements; and Application and other explanatory material, with
paragraphs using an “A” prefix. The explanatory material in the “A” prefix paragraph is
cross-referenced to the corresponding paragraphs in the requirements section. Auditors are responsible for considering the entire text of each standard in applying its requirements.
![Page 5: Impact of the New Clarity Standards on Governmental Audits – Session Objective](https://reader035.vdocuments.site/reader035/viewer/2022070423/56816758550346895ddc1626/html5/thumbnails/5.jpg)
5
Summary of Changes and Its Impact
AU-C 200 Overall Objectives of the Independent Auditor and the Conduct of an Audit in Accordance With Generally Accepted
Auditing Standards
![Page 6: Impact of the New Clarity Standards on Governmental Audits – Session Objective](https://reader035.vdocuments.site/reader035/viewer/2022070423/56816758550346895ddc1626/html5/thumbnails/6.jpg)
6
Summary of Changes and Its Impact
AU-C 210 Terms of Engagement
![Page 7: Impact of the New Clarity Standards on Governmental Audits – Session Objective](https://reader035.vdocuments.site/reader035/viewer/2022070423/56816758550346895ddc1626/html5/thumbnails/7.jpg)
7
Summary of Changes and Its Impact
AU-C 220 Quality Control for an Engagement
Conducted in Accordance WithGenerally Accepted Auditing Standards
![Page 8: Impact of the New Clarity Standards on Governmental Audits – Session Objective](https://reader035.vdocuments.site/reader035/viewer/2022070423/56816758550346895ddc1626/html5/thumbnails/8.jpg)
8
Summary of Changes and Its Impact
AU-C 230 Audit Documentation
![Page 9: Impact of the New Clarity Standards on Governmental Audits – Session Objective](https://reader035.vdocuments.site/reader035/viewer/2022070423/56816758550346895ddc1626/html5/thumbnails/9.jpg)
9
Summary of Changes and Its Impact
AU-C 240 Consideration of Fraud in a Financial
Statement Audit
![Page 10: Impact of the New Clarity Standards on Governmental Audits – Session Objective](https://reader035.vdocuments.site/reader035/viewer/2022070423/56816758550346895ddc1626/html5/thumbnails/10.jpg)
10
Summary of Changes and Its Impact
AU-C 250 Consideration of Laws and Regulations
in an Audit of Financial Statements
![Page 11: Impact of the New Clarity Standards on Governmental Audits – Session Objective](https://reader035.vdocuments.site/reader035/viewer/2022070423/56816758550346895ddc1626/html5/thumbnails/11.jpg)
11
Summary of Changes and Its Impact
AU-C 260 The Auditor’s Communication With
Those Charged With Governance
![Page 12: Impact of the New Clarity Standards on Governmental Audits – Session Objective](https://reader035.vdocuments.site/reader035/viewer/2022070423/56816758550346895ddc1626/html5/thumbnails/12.jpg)
12
Summary of Changes and Its Impact
AU-C 265 Communicating Internal Control
Related Matters Identified in an Audit
![Page 13: Impact of the New Clarity Standards on Governmental Audits – Session Objective](https://reader035.vdocuments.site/reader035/viewer/2022070423/56816758550346895ddc1626/html5/thumbnails/13.jpg)
13
Summary of Changes and Its Impact
AU-C 300 Planning an Audit
![Page 14: Impact of the New Clarity Standards on Governmental Audits – Session Objective](https://reader035.vdocuments.site/reader035/viewer/2022070423/56816758550346895ddc1626/html5/thumbnails/14.jpg)
14
Summary of Changes and Its Impact
AU-C 315 Understanding the Entity and Its
Environment and Assessing the Risks of Material Misstatement
![Page 15: Impact of the New Clarity Standards on Governmental Audits – Session Objective](https://reader035.vdocuments.site/reader035/viewer/2022070423/56816758550346895ddc1626/html5/thumbnails/15.jpg)
15
Summary of Changes and Its Impact
AU-C 320Materiality in Planning and Performing
an Audit
![Page 16: Impact of the New Clarity Standards on Governmental Audits – Session Objective](https://reader035.vdocuments.site/reader035/viewer/2022070423/56816758550346895ddc1626/html5/thumbnails/16.jpg)
16
Summary of Changes and Its Impact
AU-C 330 Performing Audit Procedures in Response to Assessed Risks and Evaluating the Audit Evidence
Obtained
![Page 17: Impact of the New Clarity Standards on Governmental Audits – Session Objective](https://reader035.vdocuments.site/reader035/viewer/2022070423/56816758550346895ddc1626/html5/thumbnails/17.jpg)
17
Summary of Changes and Its Impact
AU-C 402 Audit Considerations Relating to an Entity Using a Service Organization
![Page 18: Impact of the New Clarity Standards on Governmental Audits – Session Objective](https://reader035.vdocuments.site/reader035/viewer/2022070423/56816758550346895ddc1626/html5/thumbnails/18.jpg)
18
Summary of Changes and Its Impact
AU-C 450 Evaluation of Misstatements Identified
During the Audit
![Page 19: Impact of the New Clarity Standards on Governmental Audits – Session Objective](https://reader035.vdocuments.site/reader035/viewer/2022070423/56816758550346895ddc1626/html5/thumbnails/19.jpg)
19
Summary of Changes and Its Impact
AU-C 500Audit Evidence
![Page 20: Impact of the New Clarity Standards on Governmental Audits – Session Objective](https://reader035.vdocuments.site/reader035/viewer/2022070423/56816758550346895ddc1626/html5/thumbnails/20.jpg)
20
Summary of Changes and Its Impact
AU-C 501Audit Evidence – Specific
Considerations for Selected Items
![Page 21: Impact of the New Clarity Standards on Governmental Audits – Session Objective](https://reader035.vdocuments.site/reader035/viewer/2022070423/56816758550346895ddc1626/html5/thumbnails/21.jpg)
21
Summary of Changes and Its Impact
AU-C 505External Confirmations
![Page 22: Impact of the New Clarity Standards on Governmental Audits – Session Objective](https://reader035.vdocuments.site/reader035/viewer/2022070423/56816758550346895ddc1626/html5/thumbnails/22.jpg)
22
Summary of Changes and Its Impact
AU-C 510Opening Balances – Initial Audit Engagements, Including Reaudit
Engagements
![Page 23: Impact of the New Clarity Standards on Governmental Audits – Session Objective](https://reader035.vdocuments.site/reader035/viewer/2022070423/56816758550346895ddc1626/html5/thumbnails/23.jpg)
23
Summary of Changes and Its Impact
AU-C 520Analytical Procedures
![Page 24: Impact of the New Clarity Standards on Governmental Audits – Session Objective](https://reader035.vdocuments.site/reader035/viewer/2022070423/56816758550346895ddc1626/html5/thumbnails/24.jpg)
24
Summary of Changes and Its Impact
AU-C 530Audit Sampling
![Page 25: Impact of the New Clarity Standards on Governmental Audits – Session Objective](https://reader035.vdocuments.site/reader035/viewer/2022070423/56816758550346895ddc1626/html5/thumbnails/25.jpg)
25
Summary of Changes and Its Impact
AU-C 540Auditing Accounting Estimates, Including Fair Value Accounting
Estimates and Related Disclosures
![Page 26: Impact of the New Clarity Standards on Governmental Audits – Session Objective](https://reader035.vdocuments.site/reader035/viewer/2022070423/56816758550346895ddc1626/html5/thumbnails/26.jpg)
26
Summary of Changes and Its Impact
AU-C 550Related Parties
![Page 27: Impact of the New Clarity Standards on Governmental Audits – Session Objective](https://reader035.vdocuments.site/reader035/viewer/2022070423/56816758550346895ddc1626/html5/thumbnails/27.jpg)
27
Summary of Changes
AU-C 560Subsequent Events and Subsequently
Discovered Facts
![Page 28: Impact of the New Clarity Standards on Governmental Audits – Session Objective](https://reader035.vdocuments.site/reader035/viewer/2022070423/56816758550346895ddc1626/html5/thumbnails/28.jpg)
28
Summary of Changes and Its Impact
AU-C 570The Auditor’s Consideration of an Entity’s Ability to Continue as a
Going Concern
![Page 29: Impact of the New Clarity Standards on Governmental Audits – Session Objective](https://reader035.vdocuments.site/reader035/viewer/2022070423/56816758550346895ddc1626/html5/thumbnails/29.jpg)
29
Summary of Changes and Its Impact
AU-C 580Written Representations
![Page 30: Impact of the New Clarity Standards on Governmental Audits – Session Objective](https://reader035.vdocuments.site/reader035/viewer/2022070423/56816758550346895ddc1626/html5/thumbnails/30.jpg)
30
Summary of Changes and Its Impact
AU-C 585Consideration of Omitted Procedures
After the Report Release Date
![Page 31: Impact of the New Clarity Standards on Governmental Audits – Session Objective](https://reader035.vdocuments.site/reader035/viewer/2022070423/56816758550346895ddc1626/html5/thumbnails/31.jpg)
31
Summary of Changes and Its Impact
AU-C 600Special Considerations – Audits of
Group Financial Statements (Including the Work of Component Auditors)
![Page 32: Impact of the New Clarity Standards on Governmental Audits – Session Objective](https://reader035.vdocuments.site/reader035/viewer/2022070423/56816758550346895ddc1626/html5/thumbnails/32.jpg)
32
Summary of Changes and Its Impact
AU-C 610The Auditor’s Consideration of the
Internal Audit Function in an Audit of Financial Statements (In Process)
![Page 33: Impact of the New Clarity Standards on Governmental Audits – Session Objective](https://reader035.vdocuments.site/reader035/viewer/2022070423/56816758550346895ddc1626/html5/thumbnails/33.jpg)
33
Summary of Changes and Its Impact
AU-C 620Using the Work of an Auditor’s
Specialist
![Page 34: Impact of the New Clarity Standards on Governmental Audits – Session Objective](https://reader035.vdocuments.site/reader035/viewer/2022070423/56816758550346895ddc1626/html5/thumbnails/34.jpg)
34
Summary of Changes and Its Impact
AU-C 700Forming an Opinion and Reporting on
Financial Statements
![Page 35: Impact of the New Clarity Standards on Governmental Audits – Session Objective](https://reader035.vdocuments.site/reader035/viewer/2022070423/56816758550346895ddc1626/html5/thumbnails/35.jpg)
35
Forming an Opinion and Reporting on Financial Statements – AU-C 700
Headings and Subheadings
Report on the Financial Statements We have audited the accompanying financial statements of the governmental activities, the business-type activities, the aggregate discretely presented component units, each major fund, and the aggregate remaining fund information of the City X, as of and for the year ended September 30, 2013, and the related notes to the financial statements, which collectively comprise the City’s basic financial statements as listed in the table of contents. Management’s Responsibility for the Financial Statements Management is responsible for the preparation and fair presentation of these financial statements in accordance with accounting principles generally accepted in the United States of America; this includes the design, implementation, and maintenance of internal control relevant to the preparation and fair presentation of financial statements that are free from material misstatement, whether due to fraud or error. Auditor’s Responsibility Our responsibility is to express opinions on these financial statements based on our audit. We conducted our audit in accordance with auditing standards generally accepted in the United States of America and the standards applicable to financial audits contained in Government Auditing Standards,1 issued by the Comptroller General of the United States. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free from material misstatement.
1 For financial audits performed in accordance with Government Auditing Standards, chapters 1–4 of Government Auditing Standards apply.
![Page 36: Impact of the New Clarity Standards on Governmental Audits – Session Objective](https://reader035.vdocuments.site/reader035/viewer/2022070423/56816758550346895ddc1626/html5/thumbnails/36.jpg)
36
Forming an Opinion and Reporting on Financial Statements – AU-C 700
Opinion
Opinions In our opinion, the financial statements referred to above present fairly, in all material respects, the respective financial position of the governmental activities, the business-type activities, the aggregate discretely presented component units, each major fund, and the aggregate remaining fund information of the [CITY OF EXAMPLE, ANY STATE], as of [DATE], and the respective changes in financial position and, where applicable, cash flows thereof for the year then ended in accordance with accounting principles generally accepted in the United States of America.
![Page 37: Impact of the New Clarity Standards on Governmental Audits – Session Objective](https://reader035.vdocuments.site/reader035/viewer/2022070423/56816758550346895ddc1626/html5/thumbnails/37.jpg)
37
Forming an Opinion and Reporting on Financial Statements – AU-C 700
Report on Other Legal and Regulatory Requirements [Form and content of this section of the auditor’s report will vary depending on the nature of the auditor’s other reporting responsibilities.]
Other Reporting Responsibilities (Yellow Book Report reference)
![Page 38: Impact of the New Clarity Standards on Governmental Audits – Session Objective](https://reader035.vdocuments.site/reader035/viewer/2022070423/56816758550346895ddc1626/html5/thumbnails/38.jpg)
38
Summary of Changes and Its Impact
AU-C 705Modification to the Opinion in the
Independent Auditor’s Report
![Page 39: Impact of the New Clarity Standards on Governmental Audits – Session Objective](https://reader035.vdocuments.site/reader035/viewer/2022070423/56816758550346895ddc1626/html5/thumbnails/39.jpg)
39
Modifications to the Opinion – AU-C 705
Basis for Adverse Opinion Management has not included the Aviation Fund in the City of X, State Y’s, financial statements. Accounting principles generally accepted in the United States of America require the Aviation Fund to be presented as a major enterprise fund and financial information about the Aviation Fund to be part of the business-type activities, thus increasing that activity’s assets, liabilities, revenues, and expenses, and changing its net position. The amount by which this departure would affect the assets, liabilities, net position, revenues, and expenses of the business-type activities and the omitted major fund has not been determined.
Basis for qualified, adverse, or disclaimer (placed before opinion paragraph)
![Page 40: Impact of the New Clarity Standards on Governmental Audits – Session Objective](https://reader035.vdocuments.site/reader035/viewer/2022070423/56816758550346895ddc1626/html5/thumbnails/40.jpg)
40
Modifications to the Opinion – AU-C 705
Adverse Opinion In our opinion, because of the significance of the matter described in the “Basis for Adverse Opinion on Aviation Fund and Qualified Opinion on Business-Type Activities” paragraph, the financial statements referred to above do not present fairly the financial position of the Aviation Fund of the City of X, State Y, as of June 30, 20X1, or the changes in financial position or cash flows thereof for the year then ended.
Modified opinion (Qualified, Adverse, or Disclaimer
![Page 41: Impact of the New Clarity Standards on Governmental Audits – Session Objective](https://reader035.vdocuments.site/reader035/viewer/2022070423/56816758550346895ddc1626/html5/thumbnails/41.jpg)
41
Summary of Changes and Its Impact
AU-C 706Emphasis-of-Matter Paragraphs and
Other-Matter Paragraphs in the Independent Auditor’s Report
![Page 42: Impact of the New Clarity Standards on Governmental Audits – Session Objective](https://reader035.vdocuments.site/reader035/viewer/2022070423/56816758550346895ddc1626/html5/thumbnails/42.jpg)
42
Summary of Changes and Its ImpactAU-C 706
Emphasis-of-MatterRefers to a matter appropriately presented or disclosed in the financial statements that, in the auditors’ professional judgment, is of such importance that it is fundamental to users in understanding the financial statements.Examples are a going concern, litigation, change in policy like when GASB 54 implemented, significant related parties …
![Page 43: Impact of the New Clarity Standards on Governmental Audits – Session Objective](https://reader035.vdocuments.site/reader035/viewer/2022070423/56816758550346895ddc1626/html5/thumbnails/43.jpg)
43
Summary of Changes and Its ImpactAU-C 706
Other-Matter ParagraphsRefers to a matter other than those presented or disclosed in the financial statements that, in the auditors’ professional judgment, is relevant to users’ understanding of the audit, auditors’ responsibilities, or the auditors’ reportExamples are if prior periods presented, regulatory financials, in relation to opinion, RSI, other SI
![Page 44: Impact of the New Clarity Standards on Governmental Audits – Session Objective](https://reader035.vdocuments.site/reader035/viewer/2022070423/56816758550346895ddc1626/html5/thumbnails/44.jpg)
44
Emphasis of Matter and Other Matter Paragraphs – AU-C 706
Emphasis of Matter The accompanying financial statements have been prepared assuming that the City of X, State Y will continue as a going concern. As discussed in Note Z to the financial statements, the City [Describe conditions that indicate that the City may not be able to continue as a going concern]. These conditions raise substantial doubt about its ability to continue as a going concern. Management’s plans regarding those matters also are described in Note Z. The financial statements do not include any adjustments that might result from the outcome of this uncertainty. Our opinion is not modified with respect to this matter.
Emphasis of Matters• Matters appropriately presented or disclosed
![Page 45: Impact of the New Clarity Standards on Governmental Audits – Session Objective](https://reader035.vdocuments.site/reader035/viewer/2022070423/56816758550346895ddc1626/html5/thumbnails/45.jpg)
45
Emphasis of Matter and Other Matter Paragraphs – AU-C 706
Other Matter• To understand audit matters (Combining
statements, SI, RSI, SEFA)
Other Matter Our audit was conducted for the purpose of forming opinions on the financial statements that collectively comprise the City of X, State Y’s basic financial statements. The introductory section, combining and individual nonmajor fund financial statements, and statistical section are presented for purposes of additional analysis and are not a required part of the basic financial statements.
![Page 46: Impact of the New Clarity Standards on Governmental Audits – Session Objective](https://reader035.vdocuments.site/reader035/viewer/2022070423/56816758550346895ddc1626/html5/thumbnails/46.jpg)
46
Summary of Changes and Its Impact
AU-C 708Consistency of Financial Statements
![Page 47: Impact of the New Clarity Standards on Governmental Audits – Session Objective](https://reader035.vdocuments.site/reader035/viewer/2022070423/56816758550346895ddc1626/html5/thumbnails/47.jpg)
47
Summary of Changes and Its Impact
AU-C 720Other Information in Documents
Containing Audited Financial Statements
![Page 48: Impact of the New Clarity Standards on Governmental Audits – Session Objective](https://reader035.vdocuments.site/reader035/viewer/2022070423/56816758550346895ddc1626/html5/thumbnails/48.jpg)
48
Summary of Changes and Its Impact
AU-C 725Supplementary Information in Relation to the Financial Statements as a Whole
![Page 49: Impact of the New Clarity Standards on Governmental Audits – Session Objective](https://reader035.vdocuments.site/reader035/viewer/2022070423/56816758550346895ddc1626/html5/thumbnails/49.jpg)
49
Summary of Changes and Its Impact
AU-C 730Required Supplementary Information
![Page 50: Impact of the New Clarity Standards on Governmental Audits – Session Objective](https://reader035.vdocuments.site/reader035/viewer/2022070423/56816758550346895ddc1626/html5/thumbnails/50.jpg)
50
Summary of Changes and Its Impact
AU-C 800Special Considerations
Audits of Financial Statements Prepared in Accordance with Special Purpose Framework
![Page 51: Impact of the New Clarity Standards on Governmental Audits – Session Objective](https://reader035.vdocuments.site/reader035/viewer/2022070423/56816758550346895ddc1626/html5/thumbnails/51.jpg)
51
Summary of Changes and Its Impact
AU-C 805Special Considerations Audits of Single
Financial Statements and Specific Elements, Accounts, or Items of a
Financial Statement
![Page 52: Impact of the New Clarity Standards on Governmental Audits – Session Objective](https://reader035.vdocuments.site/reader035/viewer/2022070423/56816758550346895ddc1626/html5/thumbnails/52.jpg)
52
Summary of Changes and Its Impact
AU-C 806Reporting on Compliance With Aspects
of Contractual Agreements or Regulatory Requirements in Connection
With Audited Financial Statements
![Page 53: Impact of the New Clarity Standards on Governmental Audits – Session Objective](https://reader035.vdocuments.site/reader035/viewer/2022070423/56816758550346895ddc1626/html5/thumbnails/53.jpg)
53
Summary of Changes and Its Impact
AU-C 810Engagements to Report on Summary
Financial Statements
![Page 54: Impact of the New Clarity Standards on Governmental Audits – Session Objective](https://reader035.vdocuments.site/reader035/viewer/2022070423/56816758550346895ddc1626/html5/thumbnails/54.jpg)
54
Summary of Changes and Its Impact
AU-C 905Alert That Restricts the Use of the Auditor’s Written Communication
![Page 55: Impact of the New Clarity Standards on Governmental Audits – Session Objective](https://reader035.vdocuments.site/reader035/viewer/2022070423/56816758550346895ddc1626/html5/thumbnails/55.jpg)
55
Summary of Changes and Its ImpactAU-C 905
Alert That Restricts the Use of the Auditor’s Written Communication
Purpose of this Report
The purpose of this report is solely to describe the scope of our testing of internal control and compliance and the results of that testing, and not to provide an opinion on the effectiveness of the entity’s internal control or on compliance. This report is an integral part of an audit performed in accordance with Government Auditing Standards in considering the entity’s internal control and compliance. Accordingly, this communication is not suitable for any other purpose.
(
(Replaces the restricted use alert with a restricted purpose alert)
![Page 56: Impact of the New Clarity Standards on Governmental Audits – Session Objective](https://reader035.vdocuments.site/reader035/viewer/2022070423/56816758550346895ddc1626/html5/thumbnails/56.jpg)
56
Summary of Changes and Its Impact
AU-C 910Financial Statements Prepared in
Accordance With a Financial Reporting Framework Generally Accepted in
Another Country
![Page 57: Impact of the New Clarity Standards on Governmental Audits – Session Objective](https://reader035.vdocuments.site/reader035/viewer/2022070423/56816758550346895ddc1626/html5/thumbnails/57.jpg)
57
Summary of Changes and Its Impact
AU-C 915Reports on Application of
Requirements of an Applicable Financial Reporting Framework
![Page 58: Impact of the New Clarity Standards on Governmental Audits – Session Objective](https://reader035.vdocuments.site/reader035/viewer/2022070423/56816758550346895ddc1626/html5/thumbnails/58.jpg)
58
Summary of Changes and Its Impact
AU-C 920Letters for Underwriters and Certain
Other Requesting Parties
![Page 59: Impact of the New Clarity Standards on Governmental Audits – Session Objective](https://reader035.vdocuments.site/reader035/viewer/2022070423/56816758550346895ddc1626/html5/thumbnails/59.jpg)
59
Summary of Changes and Its Impact
AU-C 925Filings With the U.S. Securities and Exchange Commission Under the
Securities Act of 1933
![Page 60: Impact of the New Clarity Standards on Governmental Audits – Session Objective](https://reader035.vdocuments.site/reader035/viewer/2022070423/56816758550346895ddc1626/html5/thumbnails/60.jpg)
60
Summary of Changes and Its Impact
AU-C 930Interim Financial Information
![Page 61: Impact of the New Clarity Standards on Governmental Audits – Session Objective](https://reader035.vdocuments.site/reader035/viewer/2022070423/56816758550346895ddc1626/html5/thumbnails/61.jpg)
61
Summary of Changes and Its Impact
AU-C 935Compliance Audits
![Page 62: Impact of the New Clarity Standards on Governmental Audits – Session Objective](https://reader035.vdocuments.site/reader035/viewer/2022070423/56816758550346895ddc1626/html5/thumbnails/62.jpg)
62
Resources: AICPA Financial Reporting Center
![Page 63: Impact of the New Clarity Standards on Governmental Audits – Session Objective](https://reader035.vdocuments.site/reader035/viewer/2022070423/56816758550346895ddc1626/html5/thumbnails/63.jpg)
Questions?Beila ShermanMarcum LLPSenior Manager450 East Las Olas Boulevard, Suite 950Fort Lauderdale, Florida [email protected]
Enrique LlerenaMarcum LLPManagerOne Southeast Third Avenue, 10th FloorMiami, Florida [email protected]