The (FDTA) Proposed Rules and Continuing Disclosure Agreements That Impact States and Local Governments
Author: Eric S. Berman
| CPE Credit: |
2 hours for CPAs |
The National Defense Authorization Act of 2023 was passed into law at the close of 2022 containing the Financial Data Transparency Act (FDTA). FDTA requires regulatory bodies to propose, adopt and enhance consistent and open data standards of disseminated information. Issuers of municipal bonds fall within the provisions of FDTA due to the Securities and Exchange Act of 1934, as amended. What is in FDTA? How may it impact your government? What about compliance upon implementation in 2027? All of these will be discussed during this two CPE course.
Publication Date: October 2024
Topics Covered
- The Road Toward Transparency?
- What Is in the Financial Data Transparency Act (2022)?
- What Is in the Joint Inerim Rule Proposed by Financial Stability Oversight Council (FSOC)?
- Best Practices in Preparing an ACFR to be Ready for FDTA
- What Would be Role of Auditors/Consultants in FDTA?
- Your Frequently Asked Questions on FDTA
Learning Objectives
- Describe what is in the Federal Financial Data Transparency Act (FDTA)
- Explain the applicability of FDTA to state and local governments
- Identify the proposed FDTA rules
- Identify what is typically in continuing disclosure agreements
- Identify the year data reporting from grant recipients began under the Federal Funding Accountability and Transparency Act of 2006
Level
Intermediate
Instructional Method
Self-Study
NASBA Field of Study
Accounting (Governmental) (2 hours)
Program Prerequisites
Basic governmental finance relating to bonds and disclosure.
Advance Preparation
None
