A/B/C Campus Scope Presented by: Kathy Lai, KPMG LLP AUDIT
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Transcript of A/B/C Campus Scope Presented by: Kathy Lai, KPMG LLP AUDIT
A/B/C Campus Scope
Presented by:
Kathy Lai, KPMG LLP
AUDIT
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A/B/C Campus Scope
Assembly Bill No. 2613 (AB 2613)
Effective beginning fiscal year 1996-97.
Requirements– Financial statement of the CSU system as a whole, as
well as at least 10 campuses individually each year.
– Each campus must being subjected to a stand-alone financial statement audit at least once every two years.
May 2010 Year-End GAAP Training
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A/B/C Campus Scope (continue)
Financial Statement Audit (FSA)
Three Tiered Approach (A, B, or C)
Effective FY 2008-09
A Campus – Full Scope FSA on campus with Stand Alone Reporting
B Campus – Limited Scope FSA on campus with “no” stand alone report issued
C Campus – Limited Scope FSA centrally audited at the Chancellor’s Office with “no” stand alone report issued
May 2010 Year-End GAAP Training3
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A Campuses
Bakersfield
Channel Islands
Chico
Humboldt
Long Beach
Maritime Academy
Monterey Bay
Pomona
Sacramento
San Bernardino
San Diego
Stanislaus
May 2010 Year-End GAAP Training4
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A Campuses (continue)Select Audit Procedures of FY 2009 balances
– AB 2613: One year presentation stand alone report required in FY 2010
– FY 2009 scope designation: B or C Campus
– Will audit select accounts to opine on the Net Assets as of June 30, 2009
– Select accounts will include at a minimum: capital assets, accounts payable, accrued salaries and benefits payable, accrued compensated absences and capitalized lease obligations (if applicable and deemed significant by your campus Manager and Partner)
– All PBCs prepared during FY 2009 will be given to FY 2010 KPMG audit team to facilitate the audit of select FY 2009 accounts
May 2010 Year-End GAAP Training
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A campuses (continue)
Fieldwork– Interim: Most campuses scheduled May or June 2010
– Final Fieldwork: September 7, 2010
May 2010 Year-End GAAP Training6
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B Campuses
B Campuses
Chancellor’s Office
Fresno
San Francisco
San Luis Obispo
Fieldwork Dates
Interim – N/A
Final – 9/20/2010 (Audited by KPMG teams on campus)
May 2010 Year-End GAAP Training7
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C Campuses
C Campuses
Dominguez Hills
East Bay
Fullerton
Los Angeles
Northridge
San Jose
San Marcos
Sonoma
Fieldwork Dates
Interim – N/A
Final – 9/7/2010 (Audited centrally by KPMG at the Chancellor’s Office)
May 2010 Year-End GAAP Training8
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A/B/C Campus Scope
Questions?
May 2010 Year-End GAAP Training9