Changing Tides: Changes and Error Corrections in Financial Reports

Things change and mistakes happen. When this occurs, finance professionals need to be transparent and report the change. However different kinds of changes impact a government's financial statement reporting in different ways. This session will provide an overview of the accounting and reporting requirements for governments when there are changes to or within the reporting entity, changes in accounting principles, changes in estimates, and corrections of errors. Speakers will emphasize the new display requirements and clarify the requirements for prior periods reported in the Required Supplementary Information (RSI) and Supplementary Information (SI).

Speakers

Diane Allison, CPA, CGMA, CGFO

Diane Allison, CPA, CGMA, CGFO

Assistant Legislative Auditor and Director of Local Government Services, Louisiana Legislative Auditor

Steffanie Dorn

Steffanie Dorn

Treasurer, Greenwood County, South Carolina

Tami Robison

Tami Robison

Finance Director, Geary County, Kansas

Kent Willis

Kent Willis

Partner, Pattillo, Brown & Hill, Waco, Texas