CPA Government & Nonprofit Report articles from July 2003

CPA Government & Nonprofit Report archives from July 2003

AICPA issues ED of a monster SAS.
July 1, 2003... In one of the most wide sweeping changes to affect auditing standards, the American Institute of Certified Public Accountants (AICPA) has issued an exposure draft (ED) that will substantially change several Statements on Auditing Standards...

Editor's note.
July 1, 2003... As of press time, we are anxiously awaiting the release of the 2003 Yellow Book, and the amendment to the Single Audit OMB Circular A-133 that will raise the single audit threshold. Once these are issued, we will report on them in detail. ...

GASB issues Statement No. 41.
July 1, 2003... The Governmental Accounting Standards Board (GASB) has issued Statement No. 41, Budgetary Comparison Schedule--Perspective Differences (GASB-41), which clarifies existing guidance on budgetary comparisons in GASB Statement No. 34, Basic...

GASB issues ED on TB for derivatives.
July 1, 2003... This technical bulletin (TB) addresses only disclosure requirements for derivatives that are not presented at fair value on the Statement of Net Assets. Since most derivatives are presented at fair value due to Governmental Accounting Standards...

AICPA issues an alert on single audit quality concerns.
July 1, 2003... Single audits are again in the news, if you will, from the federal agencies Offices of Inspector General (OIGs). Several federal agencies' OIGs have recently expressed concerns about the quality of these audits during congressional...