SRB GAAP Preparation Presented by: Kathy Skara, CO and Frank Wimer, KPMG LLP AUDIT.
The California State University (CSU) GAAP Reporting Manual 2008 11 © 2008 KPMG LLP, the U.S....
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The California State University (CSU) GAAP Reporting Manual 2 1 1 © 2008 KPMG LLP, the U.S. member firm of KPMG International, a Swiss cooperative. All rights reserved. Printed in U.S.A. KPMG and the KPMG logo are registered trademarks of KPMG International. 12887 ORA CSU 2008 Audit and Reporting Timeline Task Day Date GAAP training - LAX (KPMG) Tuesday - Wednesday May 20 - 21, 2008 GAAP training teleconferences for auxiliary organizations Tuesday, Thursday June 24 and 26, 2008 Campus to submit preliminary schedule of expenditures of federal awards (SEFA) via YES (TM1) Thursday July 31, 2008 Chancellor's Office (CO) to provide all passdown schedules to campuses (except risk pool) Wednesday August 20, 2008 Campus to provide completed reporting package to KPMG (excluding risk pool and auxiliary organizations data) Monday/ Tuesday 1st day of fieldwork (September 2, 8 or 15, 2008 depending on fieldwork start date) Chancellor's Office to pass down risk pool entries to campuses Tuesday September 30, 2008 Auxiliary organizations audits completed and reports submitted to Chancellor's Office and Campus GAAP coordinators (including completed GAAP Financial Reporting checklist) Tuesday September 30, 2008 Campus to provide updated reporting package to KPMG (including risk pool and auxiliary organizations data) Monday October 6, 2008 Chancellor’s Office to provide the stand-alone proforma financial statements template (one-year and comparative presentations, including systemwide numbers) to campuses Wednesday October 15, 2008 Campus reporting packages due to Chancellor's Office (must be submitted by KPMG teams), including separate analytical review (Words documents) and prior period audit differences Thursday October 16, 2008 Freeze date and time at point of locking and exporting to Excel (Tentative) Please submit 3 hard copies of each Auxiliary Organization’s financial statements
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Transcript of The California State University (CSU) GAAP Reporting Manual 2008 11 © 2008 KPMG LLP, the U.S....
The California State University (CSU) GAAP Reporting Manual 2008The California State University (CSU) GAAP Reporting Manual 2008
11
© 2008 KPMG LLP, the U.S. member firm of KPMG International, a Swiss cooperative. All rights reserved. Printed in U.S.A. KPMG and the KPMG logo are registered trademarks of KPMG International.
12887 ORA
CSU 2008 Audit and Reporting TimelineCSU 2008 Audit and Reporting Timeline
Task Day Date
GAAP training - LAX (KPMG) Tuesday - Wednesday
May 20 - 21, 2008
GAAP training teleconferences for auxiliary organizations
Tuesday, Thursday
June 24 and 26, 2008
Campus to submit preliminary schedule of expenditures of federal awards (SEFA) via YES (TM1)
Thursday July 31, 2008
Chancellor's Office (CO) to provide all passdown schedules to campuses (except risk pool)
Wednesday August 20, 2008
Campus to provide completed reporting package to KPMG (excluding risk pool and auxiliary organizations data)
Monday/
Tuesday
1st day of fieldwork (September 2, 8 or 15, 2008 depending on fieldwork start date)
Chancellor's Office to pass down risk pool entries to campuses
Tuesday September 30, 2008
Auxiliary organizations audits completed and reports submitted to Chancellor's Office and Campus GAAP coordinators (including completed GAAP Financial Reporting checklist)
Tuesday September 30, 2008
Campus to provide updated reporting package to KPMG (including risk pool and auxiliary organizations data)
Monday October 6, 2008
Chancellor’s Office to provide the stand-alone proforma financial statements template (one-year and comparative presentations, including systemwide numbers) to campuses
Wednesday October 15, 2008
Campus reporting packages due to Chancellor's Office (must be submitted by KPMG teams), including separate analytical review (Words documents) and prior period audit differences and reclassifications (Excel worksheets)
Thursday October 16, 2008
Chancellor’s Office reporting team to internally review campus reporting packages (v1) before KPMG review
Monday - Tuesday
October 20 - 21, 2008
Freeze date and time at point of locking and exporting to Excel
(Tentative)
Please submit 3 hard copies of each Auxiliary Organization’s financial statements
The California State University (CSU) GAAP Reporting Manual 2008The California State University (CSU) GAAP Reporting Manual 2008
22
© 2008 KPMG LLP, the U.S. member firm of KPMG International, a Swiss cooperative. All rights reserved. Printed in U.S.A. KPMG and the KPMG logo are registered trademarks of KPMG International.
12887 ORA
CSU 2008 Audit and Reporting TimelineCSU 2008 Audit and Reporting Timeline
Task Day Date
KPMG Systemwide team to review campus reporting packages (v1)
Wednesday - Thursday
October 22 - 23, 2008
KPMG Systemwide team to provide comments to Chancellor’s Office reporting team for review and approval prior to distributing to KPMG campus teams/GAAP coordinators
Thursday October 23, 2008
KPMG systemwide team communicates to KPMG campus teams/GAAP coordinators via email distribution of comments (cc Ben Cheng and Alice Yip at CO)
Friday October 24, 2008
Campus and KPMG teams to clear review comments
Monday - Friday
October 27 – 31, 2008
Campus revised reporting packages (v2) due to Chancellor's Office (must be submitted by KPMG campus teams), including separate analytical review (Words documents) and prior period audit differences and reclassifications (Excel worksheets)
Friday October 31, 2008
KPMG Systemwide team to review revised campus reporting packages (v2), and approve FINAL version for consolidation
Monday - Tuesday
November 3 - 4, 2008
KPMG campus teams to submit A-133 findings to KPMG Systemwide team (single audit summary of deficiencies document)
Wednesday November 5, 2008
Systemwide financial statements consolidation begins
Wednesday November 5, 2008
SCO GAAP adjusting entries due to Chancellor’s Office
Friday August 22, 2008
Campus to provide complete draft stand-alone financial statements (including management approved MD&A) to KPMG for review
Monday November 24, 2008
GAAP FIRMS submission due to Chancellor’s Office
Monday December 1, 2008
Issue campus stand-alone financial statements
Thursday January 15, 2009
Freeze date and time at point of locking and exporting to Excel
