Wednesday, May 22, 2019

Puerto Rico CPA Society to hold gov’t accounting, auditing forum

By on April 15, 2019

(CB file)

April 25 conference will focus on federal disaster recovery funds

SAN JUAN – The Association of Certified Public Accountants of Puerto Rico announced it will be holding its 15th Forum on Accounting and Auditing of Governmental Entities at the InterContinental San Juan hotel April 25.

During the forum, which is geared toward both public and private employees, issues related to the process of Puerto Rico’s restructuring after hurricanes Irma and María will be discussed, as well as the island’s fiscal situation. In addition, information on recent accounting and auditing developments, among other technical issues, will be offered.

“The current situation of our island requires a discussion of issues related to structures, use of funds and application of government accounting standards that did not exist before. This forum is aimed at examining the most relevant elements of the Fiscal Plan and the Liquidity Plan of Puerto Rico. It will also present issues of responsibility and factors that must be considered during the audit processes of the federal funds assigned for recovery,” society President Cecilia C. Colón Ouslán said in the announcing release.

Participants will receive guidance on the administration and auditing of funds granted by the Federal Emergency Management Agency (FEMA), the Central Office for Recovery, Reconstruction and Resilience (COR3), and the Community Development Block Grant – Disaster Recovery (CDBG – DR) Program. Likewise, the most recent provisions regarding Generally Accepted Government Auditing Standards, also known as the Yellow Book, will be explained.

Among the speakers for the event are the executive director of the Fiscal Agency and Financial Advisory Authority, Christian Sobrino; Treasury Secretary Raúl Maldonado; the executive director of COR3, Omar Marrero; and Timothy Hurley Timothy Hurley, CEO of Deloitte Transactions and Business Analytics LLP.

The forum will take place from 8:45 a.m. to 5:15 p.m. To reserve and obtain more information, visit www.colegiocpa.com.

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