CPA Government & Nonprofit Report articles from April 2006

CPA Government & Nonprofit Report archives from April 2006

AICPA issues SAS 106 in the Audit Risk Assessment Series.
April 1, 2006... The third SAS in the Audit Risk Assessment Series is SAS 106, "Audit Evidence," which supersedes SAS 31, "Evidential Matter." As indicated in SAS 105, the term "audit evidence" replaces the term "evidential matter." SAS 105 provides...

Editor's note.
April 1, 2006... This month, I continue my reporting of the Audit Risk Assessment series of SAS that were issued earlier this year. In this issue, I cover SAS 106, "Audit Evidence." The remaining SAS in the series, SAS 107-111, will be covered in subsequent...

Reissuing your single audit report.
April 1, 2006... Several audit firms have been requested by various federal agencies to reissue their single audit report as the result of desk review or quality review of their work. In some cases, the auditee failed to include all the federal awards on the...

FASB issues exposure draft on post-Retirement benefit plans.(Financial Accounting Standards Board)
April 1, 2006... In March, FASB issued an exposure draft that will improve financial reporting by requiring employers (all nongovernmental entities) to recognize the over-funded and under-funded portions of their defined benefit post-retirement plans, including...

GASB issues white paper.(Governmental Accounting Standards Board)
April 1, 2006... A question I am often confronted with by CPAs and staff accountants is why do governments have to follow a different set of accounting standards? This is often followed up by the statement, "It would be a lot easier if everyone followed...