Session Description

The Importance of a Single Auditor

Wednesday, November 20, 2024

9:45 a.m. to 10:45 a.m.

Join several directors in the Farm Credit System to better understand the external financial statement audit requirements at the combined Farm Credit System level and the important role each individual Farm Credit System entity plays in the overall external audit process. The panel will share key benefits of utilizing a single System auditor as well as key risks if a single System auditor is not utilized.

Learner Outcomes:

1. Understand of the benefits of utilizing a single external audit firm for the Farm Credit System.
2. Understand key risks and challenges when the Farm Credit System does not utilize a single external audit firm.
3. Perspectives boards and management teams can consider as they evaluate external audit firms.
4. Greater awareness of potential changes to General Financing Agreements regarding use of external audit firms.