Internal training plays an important role in maintaining the technical expertise required to serve clients across a wide range of industries. To support the continued development of its professionals, Galíndez recently hosted its Industry-Specific Audits and Cash Flow Reporting Essentials Seminar at University Universal, bringing together members of the firm’s Audit Department for a day of specialized training and knowledge sharing.

The seminar featured presentations led by members of the firm’s audit team, covering key concepts, regulatory considerations, and audit procedures related to industry-specific engagements and financial reporting. The program was designed to support ongoing professional development while promoting consistency and quality across audit engagements.

One session focused on Construction Accounting and Auditing, where participants reviewed construction industry fundamentals, contract structures, revenue recognition under ASC 606, percentage-of-completion accounting, job cost reporting, audit planning, risk assessment, financial statement disclosures, and industry-specific tax considerations. The presentation also included practical case studies and examples related to construction contracts, change orders, retainage, contract assets and liabilities, and audit procedures commonly performed in construction engagements.

A second session addressed the Audit of Defined Contribution Plans, providing an overview of retirement plan structures, ERISA requirements, audit documentation standards, substantive testing procedures, participant eligibility testing, contribution and benefit testing, participant loans, investment reporting, financial statement preparation, and Form 5500 reporting requirements. Participants also reviewed common audit deficiencies identified by regulators and discussed best practices for performing employee benefit plan audits.

The seminar was presented by:

• Edna Ayala, CPA, Audit Manager
• Nanny Pagán, CPA, Audit Supervising Senior
• Natalia Padín, CPA, Audit Supervising Senior
• Victor Pintado, Audit Supervising Senior
• Enid Rivera, CPA, Audit Manager
• Edalis Rivera, Audit Senior
• Paola Padilla, Audit Semi-Senior

Several Galíndez Partners were also present throughout the seminar, providing guidance, answering questions, and sharing their experience with participants. Their involvement reflects the firm’s collaborative culture and commitment to supporting the professional growth of its team. By encouraging open discussion and knowledge sharing, Galíndez helps ensure that technical training is complemented by practical insights from experienced leaders within the firm.

At Galíndez, continuous learning plays an important role in maintaining the technical excellence our clients expect. Internal training opportunities such as this seminar help our professionals stay current on evolving accounting and auditing standards while strengthening the expertise needed to serve clients across a variety of industries. To access this valuable information, contact our team for details.