Friday – February 4, 2022
8 – 9 a.m. | Fraudsters Never Let a Crisis go to Waste: COVID Fraud Schemes
David L. Cotton, CPA (in VA), CFE, CGFM, Cotton & Company LLP
When COVID hit, most of us saw disruption, pain, suffering and tragedy. Fraudsters saw opportunities and lots of them. Let’s explore some of the most audacious, daring, and “creative” ways that dishonest people tried, and in some cases succeeded, in exploiting the pandemic and our attempts to ameliorate it.
9 – 9:20 a.m. | Networking Break
9:20 – 10:50 a.m. | GASB Update
Alan Skelton, CPA (in GA), Director of Research & Technical Activities, Governmental Accounting Standards Board
David R. Bean, Director of Research & Technical Activities, Governmental Accounting Standards Board (retired)
This session will focus on three key areas. First, Skelton and Bean will discuss two major statements being implemented in the prior and current fiscal years, GASB 84 and 87, including typical implementation issues with these projects. Then, updates on newly issued projects and those close to completion with be shared. Finally, learn the status of the Financial Reporting Model and Revenue and Expense Recognition Projects.
At the end of this session, you will have a better understanding of the overall objectives of these projects, how they may impact the auditor and preparer communities, the timelines for effective dates and any repeated questions/inquiries from stakeholders.
10:50 – 11 a.m. | Networking Break
11 a.m. – 12 p.m. | Concurrent Sessions 1
A. Single Audit Update
Brittney Williams, CPA, CGFM, Heinfeld Meech & Co., P.C.
The Pandemic funding is unprecedented in Single Audit history. There are many new challenges related to Single Audits and the requirements change frequently. This session will cover the most recent and relevant updates from the 2021 OMB Compliance Supplement, present a summary of COVID-19 funding and related challenges and provide tips and resources. Additionally, attendees will gain an understanding of what auditors will be testing, SEFA presentation and related note disclosure requirements and tips.
B. Cyber Fraud Against Government – What You Can Do Now
Kenny Kang, CPA (in CA), CGMA, CFE, Kenny Kang CPA
During this session, you will learn about the current cyber threat landscape. We will survey a number of cyber incident reports, including the 2021 Verizon Data Breach Investigations report and the 2021 IBM Cost of Data Breach Report. We will also dive into some of the more recent cyber incidents resulting from ransomware attacks, including its ever-changing evolution. By taking an in-depth study of a recent string of ransomware attacks, such as SolarWinds and Colonial Pipeline, we will reflect the importance of having a good cybersecurity posture within your organizations. We will end our discussion with some of the best practices to fight against cyber threats that your organization can put into action immediately.
C. Post COVID Workplace – Managing Remote Employees and Returning to the Office
Moderator: Michael D. Baumert, CPA, Arizona State University
Panelists: Brian Joseph Hemmerle, CPA, CFE, Henry+Horne
Jim Thompson, PhD, City of Scottsdale
Gary Vickrey, Tanner LLC
As the pandemic resets major work trends, CPAs are being challenged to rethink workforce and employee planning, management performance and overall experience. Join this session and hear different approaches and perspectives from local leaders who are navigating this new landscape and walk away with ideas that you can implement on your own team.
12 – 12:30 p.m. | Networking Break
12:30 – 1:30 p.m. | Lunch Session: Future of Government Accounting Standards
Joel M. Black, CPA (in GA), Chair, Governmental Accounting Standards Board
This session will provide the Chair of GASB’s view of the future of government financial reporting. The focus will be on the impact of technology on the consumption of government financial information and how possible changes impact standard setting. The session will also describe how the GASB is utilizing technology to change its own processes and interactions with stakeholders.
1:30 – 1:40 p.m. | Networking Break
1:40 – 2:40 p.m. | Concurrent Sessions 2
A. Arizona Pension Best Practices & Strategies
Rushda Mustafa, Vice President, Stifel, Nicolaus & Company, Incorporated
Omar Daghestani, Managing Director, Stifel, Nicolaus & Company, Incorporated
D. Clark Partridge, CPA, CGFM, Arizona Public Safety Personnel Retirement System
Join Reader and Daghestani for a discussion on the different options and approaches issuers can consider in managing pension liabilities along with best practices across both Arizona and the Nation in regard to pension management. Additionally, Reader and Daghestani will share their outlook on the future of PSPRS and ASRS’s liabilities, including relevant GASB guidance related to pension bond transactions completed in the state of Arizona.
B. White Collar Crime: What Every CPA Should Know
David L. Cotton, CPA (in VA), CFE, CGFM, Cotton & Company LLP
According to the FBI, “white-collar crime is … synonymous with the full range of frauds committed by business and government professionals … characterized by deceit, concealment, or violation of trust …. The motivation behind these crimes is financial—to obtain or avoid losing money, property, or services or to secure a personal or business advantage.” CPAs can and should play a crucial role in preventing and detecting white collar crime, as well as in prosecuting the perpetrators. This session will explore whether we are up to this challenge, heighten awareness regarding the CPA’s role as a front-line defender of the public interest and assess whether we are deserving of the public trust we enjoy.
C. ARPA Funding and Compliance
Jay Z. Parke, CPA, CGFM, Walker & Armstrong
The session will assist you with understanding the objectives of the Coronavirus Local Fiscal Recovery Fund established by the American Rescue Plan Act including the provisions of the Interim Final Rule and Frequently Answered Questions (FAQs). You will gain an understanding of the key differences between the Coronavirus Local Fiscal Recovery Fund and the Coronavirus Relief Fund established under the CARES Act. After attending the session, you will have practical guidance to assist in decision making during the budgeting and expenditure of your allocation of the ARPA funding.
2:40 – 3 p.m. | Networking Break
3 – 4:30 p.m. | Economic Update
Jim Rounds, Rounds Consulting Group, Inc.
Current economic conditions will be reviewed with emphasis on the recent recession, how public policy will impact the economy and what your economic future might look like.
Thank You to Our Sponsors
Heinfeld Meech & Co., P.C.
Stifel, Nicolaus & Company, Incorporated
The Pun Group LLP
Walker & Armstrong, LLP
Fester & Chapman, PLLC
Sponsorship opportunities are available. For details, contact Heidi Frei, MBA, ABC, Senior Director of Marketing & Membership at (602) 324-4743 or at email@example.com
This conference is designed for CPAs, auditors and accountants in federal, state, local and Tribal governments and will provide insights and understanding on new developments in government accounting and auditing.
Kenny Kang is a Certified Public Accountant (CPA), Chartered Global Management Accountant (CGMA) and Certified Fraud Examiner (CFE). He has over 18 years of public and industry experience. He specializes in forensic accounting, fraud examination, and fraud prevention & detection.
With over 80 civil, criminal and investigative cases, Kang has acquired a wealth of forensic techniques and experience in fighting fraud. He specializes in complex business disputes involving accounting matters. Kang has previously testified as expert witness at the Los Angeles Superior Court and at arbitrations. He received high recommendation from the Law Offices Los Angeles County Public Defender in 2009.
Kang also has a passion for cybersecurity and has been presenting cybersecurity related topics since 2016. He received the Cybersecurity Fundamentals for Finance and Accounting Professionals Certificate and the 2019–20 Digital Mindset from the AICPA in 2018 and 2019.
Kang provides consultation services in fraud risk assessment, internal controls assessment, accounting processes review, cybersecurity for CPA firms (IRS Form W-12) and organization-wide training.
Brittney Williams, CPA, CGFM is a Partner for the public accounting firm HeinfeldMeech where she is involved with developing and monitoring the Quality Control policies and procedures for the firm. She currently manages audit services for municipalities, school districts, transportation authorities and non-profits.
Williams speaks frequently for HeinfeldMeech, several State CPA societies and AICPA Conferences on topics including GASB pronouncements, auditing standards, Government Auditing Standards and Single Audits. She has worked in the single audit environment for 16 years and has assisted clients and other professionals with single audit implementation matters.
Williams is also a peer reviewer of firms enrolled in the AICPA Peer Review Program and is currently serving on the AGA Financial Management Standards Board and the AICPA Technical Issues Committee.
Jim Rounds is President of Rounds Consulting Group. The firm specializes in economic development and tax policy analysis; education research; transportation economics; fiscal planning including revenue forecasting and budget development; strategic planning and marketing; impact and market studies; and litigation support.
Mr. Rounds regularly provides advice to policymakers at the State Capitol, mayors throughout the state as well as city council members, county board members, and other public and private sector leaders in the community. He has delivered hundreds of economic presentations throughout Arizona and is quoted weekly on television, radio, and in printed media.
Mr. Rounds specializes in using proper analysis and communication to bridge political gaps. For example, Jim is a Senior Fellow at the Goldwater Institute; a board member of the Maricopa County IDA; and advisor to education focused groups including the Helios Education Foundation, Achieve 60 AZ, the Rodel Foundation, the Arizona Board of Regents, and the various state universities, among others. Jim is also the lead economist for multiple rural and urban area healthcare and hospital associations.
Other areas of recent study include advanced workforce analysis; minimum wage impact analysis; State Trust Land finance; public employee pension reform; utility infrastructure investment; and state and local area tourism planning.
Recently, Jim has been supporting the concept of “growing from within,” which includes efforts to better understand small business development issues, and strategic investment in education and workforce training. Jim is a lead member of the Joint Legislative Budget Committee’s Finance Advisory Committee, and has served on scores of committees and task force efforts at both the state and local levels.
Mr. Rounds began his career as a Senior Economist and Senior Budget Analyst with the Arizona Joint Legislative Budget Committee, and has been engaged in policy related economics for more than two decades. Jim has a Bachelor of Science degree and a Master of Science degree in Economics from Arizona State University.
Baumert, Michael D.
Michael D. Baumert is the director of financial services at Arizona State University and is responsible for oversight of accounting services and financial reporting. He received his MPA from Arizona State University in 2006 and his BS in Accounting and BA in Political Science from Miami University in 2003. He began his professional career with the Arizona Office of the Auditor General as a financial auditor prior to joining the Arizona State University Financial Services office in 2012. Since that time he has held progressively more responsible leadership positions within Financial Services.
He is an active CPA licensed in the state of Arizona and a member of and serves on various boards of the Arizona Society of Certified Public Accountants and the Phoenix Chapter of the Association of Government Accountants.
Alan Skelton, CPA (in Georgia) was named director of research and technical activities of the Governmental Accounting Standards Board (GASB), effective April 1, 2021. In his role as GASB director, he leads the staff and serves as the principal advisor to the chair and Board.
Immediately prior to joining the GASB, Skelton was the state accounting officer for the state of Georgia, a position he was initially appointed to by the governor in 2012. He was reappointed to the role in 2019. As state accounting officer, Skelton provided accounting leadership for the state of Georgia, including oversight of statewide financial reporting, issuing accounting policy and application interpretations of Generally Accepted Accounting Principles and implementing business process improvements. He served as deputy state accounting officer from 2009 to 2012. Previously, Skelton had more than a decade of experience in public accounting, primarily with Ernst & Young.
Skelton served on the GASB’s advisory council—the Governmental Accounting Standards Advisory Council—from 2015 to 2021, including as its vice chair since 2018. He is a graduate of Florida State University and a certified public accountant.
Gary Vickrey, an Industrial & Organizational Psychology Practitioner, has over 20 years of experience in leadership development, coaching, assessment, and training that he has provided to businesses throughout the World. Vickrey is the partner in charge of Tanner’s Leadership Solutions Practice. With a background in clinical psychology, Vickrey ran a program for the Idaho Department of Health and Welfare that provided life skill Mentors for the chronically mentally ill. Vickrey had a previous career in the United States Air Force as a fire fighter and emergency medical technician. Vickrey was awarded nine medals and two achievement medals for bravery under fire. During his career in the Air Force, he served with the United Nations in Operation Restore Hope throughout Africa. Vickrey was also a deputy sheriff in Latah County Idaho. Today, Vickrey specializes in succession planning and the coaching and development of senior leaders around the World. Vickrey’s most recent area of specialty is in constructing and implementing Leadership Development Academies for Global Organizations and has facilitated these academies in Europe, Africa, Asia and in North and South America. Although Vickrey’s practice is focused on the one-on-one development of leaders, he is an experienced and accomplished presenter on the topics of integrity, leadership brand, change management, conflict resolution, listening skills, communication, and rewarding and recognizing employees. Vickrey presents over 50 leadership academies to CPA and Financial Services Firms per year and gives numerous keynote speeches. Vickrey has proudly assessed, coached, and developed over 6500 CPAs in his career.
Parke, Jay Z.
Jay Z. Parke, CPA, CGFM, has been working as an auditor, advisor and outsourced CFO for governments since 1998. He worked as a manager for a Big 4 firm specializing primarily in middle market clients including governments and nonprofits.
Parke has been an audit partner at Walker & Armstrong for over 15 years and during this time he has specialized in providing auditing, advisory and outsourced CFO services to state and local governments, Indian tribes and Native American communities, and nonprofit organizations. During 2021 and 2020, Walker & Armstrong has worked closely with several Tribes, counties and local governments in developing budgets for and administering CARES Act/ARPA funding and auditing such funding.
Parke has written several articles and he is a regular speaker on fraud prevention and detection, internal controls, Uniform Guidance and other relevant industry topics. He is married and his wife is also a CPA also in public practice. They have three kids and they enjoy road trips, hiking and serving on nonprofit boards.
Bean, David R.
David R. Bean was the director of research and technical activities for the Governmental Accounting Standards Board (retired March 2021). During 31-year career, he assigned and provided oversight to the GASB’s research, technical and administrative activities.
Prior to joining the GASB in 1990, Bean worked in public accounting and government. He also has served as Deputy Chairman of the International Public Sector Accounting Standards Board (IPSASB). He was the lead author on the 1988 Governmental Accounting, Auditing and Financial Reporting and was the founder of the GAAFR Review. He was the last director of the National Council on Governmental Accounting before the formation of the GASB in 1984.
Bean is a member of the Government Finance Officers Association, the Connecticut and Illinois Government Finance Officers Associations, the American Institute of Certified Public Accountants, the Illinois CPA Society, the Association of Government Accountants, the National Federation of Municipal Analysts and the Municipal Analysts Group of New York.
Cotton, David L.
Dave Cotton is chairman of Cotton & Company LLP, Certified Public Accountants, headquartered in Alexandria, Virginia. The firm was founded in 1981 and has a practice concentration in assisting federal and state government agencies, inspectors general and government grantees and contractors with a variety of government program related assurance and advisory services. Cotton & Company has performed grant and contract, indirect cost rate, financial statement, financial related and performance audits for more than two dozen federal inspectors general as well as numerous other federal and state agencies and programs.
Cotton & Company’s Federal agency audit clients have included the U.S. Government Accountability Office, U.S. Navy, U.S. Marine Corps, U.S. Transportation Command, U.S. House of Representatives, U.S. Capitol Police, U.S. Small Business Administration, U.S. Bureau of Prisons, Millennium Challenge Corporation, U.S. Marshals Service and Bureau of Alcohol, Tobacco, Firearms and Explosives. Cotton & Company also assists numerous federal agencies in preparing financial statements and improving financial management, accounting and internal control systems.
Cotton received a bachelor's degree in mechanical engineering (1971) and an MBA in management science and labor relations (1972) from Lehigh University in Bethlehem, PA. He also pursued graduate studies in accounting and auditing at the University of Chicago Graduate School of Business (1977 to 1978). He is a Certified Public Accountant (CPA) in Virginia, Certified Fraud Examiner (CFE) and Certified Government Financial Manager (CGFM).
Cotton served on the Advisory Council on Government Auditing Standards (the Council advises the United States Comptroller General on promulgation of Government Auditing Standards — GAO’s yellow book) from 2006 to 2009. He served on the Institute of Internal Auditors (IIA) Anti-Fraud Programs and Controls Task Force and co-authored Managing the Business Risk of Fraud: A Practical Guide. He served on the American Institute of CPAs Anti-Fraud Task Force and co-authored Management Override: The Achilles Heel of Fraud Prevention. Cotton is the past-chair of the AICPA Federal Accounting and Auditing Subcommittee and has served on the AICPA Governmental Accounting and Auditing Committee and the Government Technical Standards Subcommittee of the AICPA Professional Ethics Executive Committee. Cotton chaired the Fraud Risk Management Task Force, sponsored by COSO and ACFE and is a principal author of the COSO-ACFE Fraud Risk Management Guide.
Cotton was the recipient of the ACFE 2018 Certified Fraud Examiner of the Year Award (“presented to a CFE who has demonstrated outstanding achievement in the field of fraud examination … based on their contributions to the ACFE, to the profession, and to the community”); AGA’s 2012 Educator Award (“to recognize individuals who have made significant contributions to the education and training of government financial managers”); and AGA’s 2006 Barr Award (“to recognize the cumulative achievements of private sector individuals who throughout their careers have served as a role model for others and who have consistently exhibited the highest personal and professional standards”).
Omar Daghestani leads Stifel’s Chicago and Boston offices, and has senior managed transactions totaling $28.1 billion for issuers including the States of Illinois, Iowa, Kansas, Kentucky, Minnesota, Wisconsin, as well as many local
Daghestani leads the firm’s pension efforts and has served on Arizona pension financings in the State dating back to July 2020, totaling over $1.25 billion. In the process, he has developed strong relationships with the rating agencies and is an expert in communicating the benefits of issuing pension bonds to them, despite their pre-established skepticism over pension bonds. His longstanding experience with pensions and the nuances of issuing taxable deals has left him well equipped to deliver the information to present a pension bond as a proactive approach to funding the UAAL.
Daghestani is a regular speaker at industry conferences, on pension, OPEB, GASB and other matters, serves as a guest lecturer on public finance at Harvard’s Kennedy School of Government.
Hemmerle, Brian Joseph
Brian Joseph Hemmerle, CPA, CFE is known for his extensive government audit knowledge. His professional career has been spent providing audit and Single Audit services for governmental and not-for-profit entities including school districts and charter schools, municipalities, counties, state agencies and court audits for various municipalities. Hemmerle is also a Certified Fraud Examiner. He is frequently invited to speak at the many governmental accounting conferences across the State of Arizona.
Before joining Henry+Horne in 2009, he worked as an auditor for firms in Phoenix and Los Angeles performing government and not-for-profit audits.
Black, Joel M.
Joel Black was named chair of the GASB effective July 1, 2020. His seven-year term concludes June 30, 2027.
Prior to joining the GASB, Black was the partner in charge of the audit practice at the accounting firm Mauldin & Jenkins, LLC, in Atlanta. In that capacity, he oversaw the audit practice of the firm’s eight offices throughout five states, including the work of more than 300 employees. Black also led the firm’s government professional practice group covering more than 400 public sector clients. He led engagements for diverse government clients from communities of fewer than 10,000 residents to states and state agencies, large counties and cities, school districts and special-purpose entities with multibillion-dollar budgets.
Black joined Mauldin & Jenkins in 2004 as a director. He was named partner in 2005 before his appointment to partner in charge of the audit practice in January 2019. Previously, he worked for KPMG LLP from 1992 to 2004.
Black has been active in numerous professional activities concerning government accounting. He was appointed to the GASB’s Governmental Accounting Standards Advisory Council (GASAC) in 2019. He served on the American Institute of Certified Public Accountants’ (AICPA) State and Local Government Expert Panel from 2015–2019 and its Government Audit Quality Center Executive Committee from 2012–2015.
Black, a graduate of Georgia State University, is a certified public accountant.
Partridge, David Clark
D. Clark Partridge is a senior executive consultant with the Arizona Public Safety Personnel Retirement System. He has 33 years of State service.
He began his career with the State of Arizona in the General Accounting Office in 1989 and has served in various capacities, including Chief Financial Officer for the Department of Commerce, Deputy State Comptroller, and over 18 years as State Comptroller. Prior to joining the State, he worked in public accounting for Arthur Andersen & Co.
Partridge serves as a co-chair of the Association of Governmental Accountants (AGA) Partnership for Intergovernmental Management and Accountability. He served as a board chair, vice-chair, and trustee of the Arizona State Retirement System, and also recently served as a member of the Governmental Accounting Standards Board (GASB) Tribal Governmental Accounting Work Group.
Partridge is a past-president of the National Association of State Auditors, Comptrollers, and Treasurers (NASACT) and the National Association of State Comptrollers (NASC), and has served on a variety of NASACT and NASC committees. He attended Brigham Young University on a leadership scholarship, graduating with a Bachelor of Science degree in Accounting. He is a Certified Public Accountant (CPA) and a Certified Government Financial Manager (CGFM).
Rushda Mustafa, Vice President, joined Stifel’s Public Finance Department in 2012 and has provided quantitative and banking support for $4.2 billion of lead-managed transactions across a variety of credits for a number of large issuers. Ms. Mustafa graduated from the University of Chicago with an M.A. in Humanities in 2012 and from the University of Waterloo with a Bachelor of Mathematics (Honors Actuarial Science and Finance) in 2009.
With her academic training in actuarial science, Ms. Mustafa is a lead contributor in the pension sector, helping drive pension reform policy discussions for municipalities in Illinois and nationally. In Arizona, she has helped execute pension refinancings for cities, towns, counties and fire districts that participate in the Public Safety Personnel Retirement System. This effort has included serving as a panelist on educational seminars for the League of Arizona Cities and Towns, GFOAZ, and the County Supervisors Association.
Jim Thompson was appointed as Scottsdale City Manager in January 2017. Prior to that, Thompson served as the city manager of Casa Grande, Arizona; Bothell, Washington; and Bullhead City, Arizona. He has over 30 years of experience as a city manager.
Thompson served on the Arizona State Personnel Board from 2004 to 2016, and since 2011 has been an adjunct professor in Arizona State University’s Department of Public Affairs. He currently serves on the Arizona Police Accreditation Board and is a former Arizona State Homeland Security Board member.
Thompson has a bachelor’s degree in accounting from Indiana University, a master’s degree in business administration from Regis University, a PhD from La Salle University, and attended the Senior Executive Program at Harvard.
Committee Chair: Vanessa Burke, CPA CPFO, The Pun Group, LLP
Conference Committee Members:
Michael D. Baumert, Arizona State University
Levi D. Gibson, City of Glendale
Elisa K. Gin, City of Mesa Transportation Department
Gary Heinfeld, Heinfeld, Meech & Co., P.C.
Brian J. Hemmerle, Henry+Horne
(Ben) Hyungju Hur, Fester & Chapman, PLLC
Keith J. Orr, Retired
Jennifer L. Shields, Heinfeld, Meech & Co., P.C.
Gerald E. Snyder, Retired
Jaimie L. Soulvie, Retired
Cheryl Toone, Arizona Dept. of Risk Management