CPA Government & Nonprofit Report articles from August 2005

CPA Government & Nonprofit Report archives from August 2005

Common deficiencies in government financial statements.
August 1, 2005... In the years subsequent to the implementation of GASB Statements 34, 37, and 38, numerous problems have crept up in financial statements of governments. I have summarized the more common problems that I have noticed and organized my comments by...

Editor's note.(Governmental Accounting Standards Board )(Brief Article)(Editorial)
August 1, 2005... Although most auditors and governments have completed at least one set of financial statements under the GASB 34 criteria, there have been a few deficiencies noted by peer reviewers, state auditors, and others. I have compiled a list of the...

Materiality determination in a single audit.
August 1, 2005... Auditors may not be aware of the requirement that there are two single-audit materiality levels. The single audit requires the auditor to determine materiality at the program level for the purpose of determining the nature of the opinion on the...

GASB publishes Implementation Guide to Statements 43 and 45.
August 1, 2005... The Governmental Accounting Standard Board (GASB) has published a Guide to Implementation of GASB Statements 43 and 45 on Other Postemployment Benefits. The guide was prepared by the GASB staff primarily to assist preparers and auditors of...

AICPA updates annual Peer Review Checklists.
August 1, 2005... The AICPA updates its Peer Review Checklists annually and recommends that audit firms incorporate these checklists as part of the Inspection and Quality Control Programs. Governmental Audit Engagement Checklist (for Government Entities...