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To Defer or not Defer, that is the GASB? A Look into GASB 63 and 65 – Part II

Last month our blog began a discussion regarding the changes to governmental financial statements based on GASB Statements 63 and 65.  This is the second part of that discussion. GASB Statement 65:...

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“What You Should Know” – Guides for Local Government

Are you looking for an easy-to understand guide to various government financial statements to offer insight to new governmental financial reporting staff or to new council or Board members?  The GASB...

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Enterprise Accounting: Government Vs. Business

In the world of business financial reporting, readers of financial statements are primarily the owners/management of the business, its lenders, and possibly current or future investors.  A government’s...

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Why Are My Auditors Doing A Yellow Book and Single Audit?

Recently the State of Arizona began requiring Generally Accepted Government Auditing Standards (GAGAS) audits, or Yellow Book audits, of all Title 48 Governmental Districts with just a few exceptions....

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Documenting (or Updating) Accounting Policies and Procedures

Management has the responsibility to design, implement and communicate internal controls over the accounting and financial reporting of their organization. One method of doing so is the formal...

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Authorized Bank Accounts for Public Schools

Recently there have been a few schools in the news with headlines regarding unauthorized bank accounts.  Have you recently looked through the list of bank accounts your School District has?  If not,...

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Why is the Auditor Really Asking about Misappropriation of Assets?

Ideally, as auditors, we rotate the staff we question during our annual audit internal control assessments.  Typically, we inquire of their knowledge of fraud, including such things as...

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GFOA Certificate of Conformance

The Government Finance Officers Association (GFOA) has very recently announced that it has instituted a professional recognition program for small governments which use the modified cash basis for...

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GFOA’s New Award for Smaller Governments is Here!

The Government Finance Officers Association (GFOA) has been reviewing governmental Comprehensive Annual Financial Report’s (CAFR’s) for their “Certificate of Achievement for Excellence in Financial...

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How to Prepare a SEFA for a Single Audit

Single audits are designed to be a cost-effective way of determining whether or not federal grant money is being used properly.  It is up to the entity to establish and maintain a system of controls...

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Best Practices for Data Backup

As an organization you are responsible for the confidentiality, integrity and availability of all documents in your care. Your organization should have formal, routine backup procedures in place to...

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Financial Statement Assurance

Financial Statement Assurance

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Fraud Risk Assessments in Government

You may have heard your auditor ask you in the past whether management is doing a fraud risk assessment on a regular basis.  You may also have heard them ask how often the results of that assessment...

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Is Your School Ready for Its Audit?

Often times, School Districts and Charter Schools are busy running the operations of their organization that they forget how much preparedness is needed for their annual or biennial audits. The summer...

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Our Government Financial Audit Report Included “Findings”

Arizona Revised State Statutes require city, town and special district audits to be conducted under government auditing standards (affectionately known as “The Yellow Book”).  Auditors are required to...

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AICPA Comments on Proposed A-133 Changes

We’ve heard about it for quite some time now.  The United States Office of Management and Budget has proposed changes that should simplify the single audit process and may streamline the single audit...

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Government Resources

Oftentimes, government blogs are not built around particularly stimulating topics.  In my search for something a little lighter and perhaps more interesting as opposed to educational, I came across the...

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Data Collection Form Update and Extension

Due to the current government shutdown, the expected “near final” version of the Data Collection Form which was expected to be released in mid-October for the required 30-day comment period most likely...

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De Minimus Fringe Benefits

While this sounds like more of a tax topic than a government blog, it is rapidly approaching the holiday/gift giving time of year for employers, including special districts, local governments, and...

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Update on the Federal Audit Clearinghouse (FAC) System

If you have a 2008 – 2012 submission for the Federal Audit Clearinghouse, you should be aware that the system will be offline Tuesday, November 12, 2013 through Wednesday, November 13, 2013.  The...

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