Companion to PPC's Guide to Audits of Local Governments - Course 2 - Important Considerations for Performing Governmental Audits (ALGTG222)  

Identify governmental units and the professional auditing and accounting standards that apply to governmental audits.

Recognize the basic GASB financial reporting requirements for governmental entities, requirements that apply when special-purpose frameworks are used, and the basic auditing requirements for governments.

Recognize best practices for identifying and assessing risks of material misstatement at the relevant assertion level.

Determine what special considerations apply to the consideration of fraud risks, and how to respond to risk assessment and prepare the detailed audit plan.

Identify what substantive procedures are required in every audit and how to choose other substantive procedures.

Recognize best practices for tests of details and substantive analytical procedures.

Determine what other issues may arise related to substantive procedures and what timing for such procedures is appropriate.