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DESCRIPTION:AGENDA\n8:00 – 8:30 am Registration & Continental Breakfast \n8
 :30 – 10:15 amArt of Forensic Detection: Think Like a Cop and Follow the E
 videnceSpeaker: Mary O’Connor\, ASA\,CFE\, Partner\, Dispute and Advisory 
 Services\, Sikich LLP Description: The difference between a successful fra
 ud investigation and a failed opportunity is often the mindset of the prof
 essional financial staff.  This session contrasts the reasoning applied by
  a skilled auditor with abductive reasoning\, which is essential to solvin
 g a suspected incident of fraud.  To illustrate the difference\, the parti
 cipants visit a staged crime scene and solve the murder by “following the 
 evidence”.  True crime stories identify the hallmarks of the mental armor 
 needed to effectively solve a financial crime.  While making a serious poi
 nt with real professional application\, this session is both fun and thoug
 ht provoking.  Bonus:  Separation of duties is an easy principle to unders
 tand but very difficult to apply\, especially with a small staff.  Much of
  the literature is very wordy without practical application.  In this semi
 nar\, we will also provide each participant with some simple rules and a m
 atrix to plan the functions of the finance division to prevent fraud.  In 
 addition\, we will also discuss in simple terms what compensating controls
  really are and how they can work to your advantage.Learning Objectives - 
 Participants completing this session will be able to:1. Learn the mindset 
 for following evidence to solve financial crimes.2. Discuss crime scenes t
 o identify evidence and apply to the workplace.3. Review real life financi
 al crime scenarios to explore reasoning techniques.4. Discover ways to mit
 igate risk of financial crime at your entity.5. Understand the essence of 
 the principle of separation of duties and a few simple rules to apply usin
 g a matrix of responsibilities and compensating controls.  \n10:30 – 11:30
  amMoody’s GO Methodology\, the ratings process\, and key credit trends fa
 cing Illinois cities\, counties\, and park districtsSpeakers: David Levett
 \, Analyst\, Moody’s and Coley Anderson\, Analyst\, MoodysDescription: Thi
 s session will cover the factors in Moody’s General Obligation ratings met
 hodology and the key steps in the ratings process.  Analysts will also dis
 cuss credit trends facing Illinois local governments inclusive of cities a
 nd counties\, and park districts.  The session will also discuss the impac
 t of state pressures and how strong management and reserves can help mitig
 ate the credit impact.Learning Objectives - Participants completing this s
 ession will be able to:1. Learn about the steps in the bond rating process
 2. Discuss the criteria used by Moody’s to rate government bonds3. Underst
 and how being a local government in Illinois impacts bond ratings\n11:30 a
 m – 12:30 pmAuditing and Accounting Update                                
                                  Speakers: Linda Abernethy\, RSM US  LLP a
 nd Christine Torres\, Crowe Horwarth LLPDescription: This course will prov
 ide an overview of the provisions of two new GASB Standards\, Statement 72
  Fair Value Measurement and Application and Statement 77 Tax Abatement Dis
 closures. Both of these Statements will be required to be implemented in f
 iscal year 2016 for many governments.  Also\, the course will outline some
  lessons learned from implementation of the new Uniform Grant Guidance and
  what changes to expect with your upcoming single audit.Learning Objective
 s - Participants completing this session will be able to:1. Understand the
  new definition of an investment.2. Understand which investments will be m
 easured at fair value and those that will be measured at cost.3. Learn how
  GASB 72 impacts capital assets.4. Understand the three “Levels” of fair v
 alue inputs.5. Understand what tax abatements are and how they need to be 
 disclosed.6. Learn tasks that can be done in advance to accumulate tax aba
 tement information.7. Understand the lessons learned after year one with t
 he new OMB Requirements.8. Learn what will change with upcoming single aud
 its including the new threshold for requiring a single audit\n12:30 – 1:30
  pmClosing Remarks and Lunch\nIntended Audience: Finance ProfessionalsDeli
 very method:  Group-liveProgram Level: OverviewPrerequisites: No prerequis
 ites required Advanced Preparation: No advanced preparation requiredField 
 of Study: Accounting (Governmental)\, Accounting (Audit)\, FinanceEarn abo
 ut 4.5 CPE credit\n 
DTEND:20161014T133000
DTSTAMP:20260312T154057
DTSTART:20161014T080000
LOCATION:Village of New Lenox\, 1 Veterans Pkwy\, New Lenox\, IL 60451
SEQUENCE:0
SUMMARY:South Metro Chapter Professional Development Seminar 
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