This course describes the CBOC receiving and reviewing before March 31 for the fiscal year ended before June 30, the required annual financial audit prepared by the district’s auditor, including how the CBOC should participate in the determination of scope, entrance conference, review of the draft report, exit conferences and presentation of the final report to the CBOC and recommendations to the governing board.
What You'll learn:
Understand the legal and regulatory requirements for annual financial audits of school district bond funds, including Prop 39 mandates and audit standards like GAAP and GAGAS.
Learn the specific audit roles and responsibilities of the Citizens Bond Oversight Committee (CBOC), including reviewing audit reports, participating in auditor selection, and forming audit subcommittees.
Gain insight into key audit processes, including ensuring audits result in clean opinions, resolving prior findings, evaluating internal controls, and reconciling financial systems used for bond management.
Discover valuable resources and tools, such as the CABOC website and GAO audit guides, to support effective oversight and compliance with state and federal audit requirements.
Features Included:
Course Curriculum
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- Financial Audits 00:00:00
