This session will give the conference participants current information on a variety of topics directly impacting Colleges and Universities including:

• Governmental Accounting Standards Board Statement No. 60 and how it impacts Colleges/University accounting for public-private partnerships in which the College/University retains control,
• An update on the IRS interim report of Colleges and Universities and how it directly impacts the College/University,
• Accounting for PPV’s. What we are seeing versus proper accounting.
• Current fraud issues, and
• Things the institutional auditor should be aware of in regard to the relationship with the University Foundation.

After this presentation, a participant will be able to:

• Have an understanding of the potential issues with Governmental Accounting Standards Board Statement No. 60,
• Know the possible impacts of the IRS interim report of Colleges and Universities,
• Understand the Accountings for PPV’s projects, and
• How leading internal audit functions are meeting the challenges regard to the relationship with the College/University Foundation.

Knowledge Level: Intermediate
Field of Study: Accounting
Prerequisites: Professional Experience
Advance Preparation: None