Teaching Points – Annual Tribal GAAP and GASB Update – 2017

The constant changes in generally accepted accounting principles (GAAP) requirements continue to be a challenge for Tribal operations of all sizes. This course will give you the information you need to assess the recent compliance changes and become familiar with the updates in GAAP relating to governmental gaming.

This course also outlines the differences between Commercial Gaming GAAP and Tribal Gaming GAAP for use in Benchmarking Analytics to provide a clear picture of where your property stands versus the competition.

Our instructors will review the AICPA Gaming Guide and will offer NAFOA Gaming Q&A Guidance. You will also receive an authorized copy of the AICPA Gaming Audit and Accounting Guide. Make sure your gaming property meets requirements by learning the tools you need to implement the policy changes.

Topics Covered:

• GASB Update
• Audit Guide for Casinos
• GAAP Hierarchy for Tribal Gaming
• Determining the Reporting Entity
• Review Upcoming Changes in GAAP
• Highlight Differences between Commerical and Tribal Gaming GAAP for use in Benchmarking Analytics
• Review of the AICPA Gaming Audit Guide and NAFOA Gaming Q&A Guidance

Teaching Points – How to Prepare for an Audit 

Preparing for a financial audit can be a stressful time. It is difficult to know exactly what the auditors will request and what they will be interested in. While that unpredictability is a necessary part of the audit for the auditor, this course will dispel a lot of the mystery surrounding a financial audit for you. Next time, you will feel more comfortable and less uncertain with the audit process.

Topics Covered:

• Goal of an Audit
• Establishing Your Own Internal “Materiality”
• Evaluating Risk of Various Accounts
• Preparing Audit Documentation
• The Confirmation Process
• Finalizing an Audit

Teaching Points – Tribal Gaming Fraud Update

Tribal gaming regulators and operators are held responsible for the protection of Tribal assets and for designing and implementing control systems to prevent and detect fraudulent financial transactions as well as misappropriation of Tribal assets.

This section will provide an overview of current accounting and gaming floor fraud trends and will discuss the control weaknesses that led to the detection and oversight. Our instructors will also provide an overview of common frauds occurring in accounts payable, payroll, purchasing, and financial reporting cycles. Additionally, we will provide the steps necessary to consider when planning a forensic fraud investigation at your property.

Topics Covered:

• Fraudulent Financial Reporting
• Gaming Floor Misappropriation Schemes and Control Weaknesses
• Purchasing and Receiving Fraud
• Accounts Payable and Disbursement Fraud
• Payroll Fraud
• Accounting Fraud
• Current Pressures, Opportunities, and Incentives
• Fraud Interviewing Techniques
• Red Flags for Fraud
• Reviewing Credit Reports
• Case Study of Fraud

Instructors:

George Metkovich, CPA – Partner

Michel Knott, CPA, CFE – Manager

Attendees:

• Commissioners
• Treasurers / Council Members
• Compliance Officers
• Accounting / Finance Staff
• Controllers / Finance Directors / CFOs
• Revenue Audit
• Internal Auditors

Date / Location:

Annual Tribal GAAP and GASB Update 2017 / How to Prepare for an Audit and Tribal Gaming Fraud Update
October 18-19, 2017

Potawatomi Carter Casino and Hotel
618 Wisconsin 32
Wabeno, Wisconsin 54566
Registration: $795 Per Person

Register five people and get 20% off. Call or email for Discount Codes.

Class from 9-4. The seminar price includes continental breakfast and lunch. The price also includes all seminar materials.

Click here to Register

Please email April Dockrey or Alycia Wilkinson at [email protected], or call us at (775) 827-5999 if you have any questions.