CPA Government & Nonprofit Report articles from January 2007

CPA Government & Nonprofit Report archives from January 2007

AICPA issues SAS 114.(American Institute of Certified Public Accountants)
January 1, 2007... AICPA issues SAS 114, "Communication With Audit Committees," that supersedes SAS 61 of the same name, and amends SAS 108, "Planning and Supervision" and SAS 59, "The Auditor's Consideration of an Entity's Ability to Continue as a Going...

AICPA issues SAS 113 'Omnibus-2006'.
January 1, 2007... An Omnibus SAS is one that corrects and amends various other statements for a variety of reasons. Below is a summary of the more significant changes. Amendment to SAS 95, "Generally Accepted Auditing Standards." SAS 105 amended SAS 95...

Update on the 2006 exposure draft of Government Auditing Standards.
January 1, 2007... The new revision of Government Auditing Standards will be issued electronically in late January 2007, with all sections finalized except for the quality assurance and peer review sections in Chapter 3. Based on the wide range of views and...

GASB issues Statement 49.
January 1, 2007... The GASB has issued Statement 49," Accounting and Financial Reporting for Pollution Remediation Obligations" (PRO), and the final statement will become effective for fiscal years beginning after Dec. 15, 2007, which effectively translates into...

GASB issues exposure draft on intangible assets.
January 1, 2007... Intangible assets, as defined in the Exposure Draft (ED), are assets that lack physical substance, are nonfinancial in nature, and have an initial useful life extending beyond one year. Examples include easements, water rights, timber rights,...