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Agenda
- Who is Eide Bailly
- Scope of the Audit
- Engagement Timeline
- Financial Results
- Schedule of Findings and Questioned Costs
- Required Communication
Western Oregon University Jodi Daugherty, CPA Kristin Diggs, CPA - - PowerPoint PPT Presentation
Western Oregon University Jodi Daugherty, CPA Kristin Diggs, CPA - - PowerPoint PPT Presentation
Western Oregon University Jodi Daugherty, CPA Kristin Diggs, CPA Partner Senior Manager Eide Bailly LLP Eide Bailly LLP 208-424-3512 208-424-3542 jdaugherty@eidebailly.com kdiggs@eidebailly.com www.eidebailly.com Agenda Who is Eide
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Who is Eide Bailly
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Who is Eide Bailly
- Top 25 CPA Firm in the Nation
- 29 offices in 13 states
- Access to over 1,600 professionals
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Scope of the Audit
- Risk based audit approach
- Walk-throughs over key areas
- Fraud discussions with various levels at WOU
- Focused efforts on areas identified as risky
- Student Financial Aid
- Federal Grants
- Student Receivables/Student Revenue
- Second year of GASB 68 and 71
- Implementation of GASB 72
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Engagement Timeline
- Planning Procedures
- July 2016
- Partner and Manager on-site planning
- July 2016
- Federal Revenue testing
- Wrap up planning procedures
- October 2016
- Year end fieldwork
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Financial Results
- Unmodified Audit Opinion
- Management’s Discussion and Analysis
- Statement of Net Position
- Statement of Activities
- Statement of Cash Flows
- Significant Notes to the Financial Statements
- Note 2 – Implementation of GASB 72
- Note 14 – PERS Disclosure
- Note 18 – Change in Entity
- Note 19 – Transfer of Operations
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Federal Awards Reports in Accordance with the Uniform Guidance
- Independent Auditor’s Report on Internal Control
- Independent Auditor’s Report on Compliance
- Schedule of Findings and Questioned Costs
- Federal Programs tested
- Results of testing over Federal Programs
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Required Communications
- AU-C 260 / Those Charged with Governance
Letter
- Significant Audit Findings
- Qualitative Aspects of Accounting Practices
- Accounting Estimates
- Difficulties Encountered in Performing the Audit
- Corrected and Uncorrected Misstatements
- Disagreements with Management
- Management Representations
- Management Consultations with Other Independent
Accountants
- Other Audit Findings or Issues
- Other Matters
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