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AICPA issues SAS 112.
July 1, 2006... In May, the AICPA issued a new SAS, "Communicating Internal Control-Related Matters Identified in an Audit," that will be effective for fiscal periods ending on or after Dec. 15, 2006, which effectively translates to fiscal year-ends of Dec....
Editor's note.(auditors)(Editorial)(Brief article)
July 1, 2006... The auditing profession has a new SAS to contend with for audits of fiscal years ending Dec. 31, 2006 and later. SAS 112, "Communicating Internal Control-Related Matters Identified in an Audit," effectively changes the term "reportable...
Understanding the repurchase agreement.
July 1, 2006... Repurchase agreements, commonly referred to as "repos," are a common investment for most government entities. Reasons why repos are such popular investments include the ability to target the investment to a particular date and the ability to...
Developing a single-audit reporting package.
July 1, 2006... Many questions have been raised as to the packaging of the single-audit reports to be submitted to the OMB Clearinghouse. Although there is no required format or pattern to follow, there are some tips that one may choose to follow to facilitate...