CPA Government & Nonprofit Report articles from March 2002

CPA Government & Nonprofit Report archives from March 2002

GAO's new amendment on independence.
March 1, 2002... The long awaited independence amendment to Government Auditing Standards was released by the GAO on January 25, 2002. The new standard contains substantial changes to the existing independence requirements contained in the 1994 Yellow Book, as...

Editor's note.
March 1, 2002... The recently issued GAO Amendment 3 on independence is the biggest event to occur in several months. This amendment will affect all auditors of governments and nonprofits in a fairly significant manner. For some, it will mean the loss of...

The Enron debacle. (Viewpoint).
March 1, 2002... Enron is the crisis that the accounting profession wishes it never had to face, but it must. Thousands of people lost millions of dollars in their personal investment programs. State and local pension funds lost approximately $1.5 billion in...

Accounting for fully depreciated capital assets under GASB 34.
March 1, 2002... One of the more interesting aspects of GASB 34 is the requirement that all capital assets that essentially were included in the General Fixed Asset Account Group (GFAAG) must be included on the Statement of Net Assets (at the government-wide...

GASB board appointment and reappointment.
March 1, 2002... Jim M. Williams, a partner and the National Director of Public Sector Accounting and Assurance Services for Ernst & Young has been named to a five-year term on the GASB Board. lira will replace Ed Klasney, a retired partner of Ernst & Young...

GASB announces new publication.
March 1, 2002... GASB announced in January, the release of its second Implementation Guide for GASB Statement 34. The first Implementation Guide was released in April 2000. With all the questions pouring into GASB, the Board felt a second Guide was necessary....