CPA Government & Nonprofit Report articles from April 2007

CPA Government & Nonprofit Report archives from April 2007

GFOA vs. GASB.
April 1, 2007... Normally, I don't venture into editorial pieces like this one, but I feel compelled to provide my opinion in hopes of stopping what I perceive to be a big mistake. I am referring to the current dispute between the Government Finance Officers...

Editor's note.
April 1, 2007... This month I have addressed one of the more controversial issues affecting governmental accounting and financial reporting. GFOA has indicated that it no longer thinks GASB should be the standard setting body for governmental accounting and...

AICPA issues SAS 107 in the Audit Risk Assessment Series.
April 1, 2007... It is time to continue the analysis of the AICPA Audit Risk Assessment Series, SAS 104-111. We covered SAS 104, 105, and 106 in earlier newsletters. The fourth SAS in the Audit Risk Assessment Series is SAS 107, "Audit Risk and Materiality...

Questions and unofficial answers to selected issues on SEFA.(Schedule of Expenditures of Federal Awards)
April 1, 2007... Question: In measuring expenditures for single audit, do I use-cash, modified accrual, or accrual basis of accounting? Answer: There is no correct answer per OMB A-133. The auditee must indicate the basis the Schedule of Expenditures of...