This session provides an update related to the APA’s oversight of Virginia local governments, including:
• Important reminders on annual audit and reporting requirements, the APA’s Audit Specifications, the APA comparative report transmittal process, and any other key, topical issues affecting local governments;
• Recent and upcoming changes from Virginia’s legislative sessions that impact local governments;
• Overview and recent results of the APA’s annual quality control review process over CPA firms auditing Virginia’s local governments;
• Overview and recent results on the APA’s annual fiscal distress monitoring process over cities, counties, and towns.

Learning Objectives:
• Obtain knowledge on annual audit and reporting requirements, APA Audit Specifications, APA comparative report process, recent state legislative changes that impact local governments, and other key, topical issues
• Obtain knowledge on APA’s annual quality control review process over CPA firms auditing local governments
• Obtain knowledge on APA’s annual local fiscal distress monitoring process

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