CPA Government & Nonprofit Report articles from May 2007

CPA Government & Nonprofit Report archives from May 2007

OMB issues 2007 Compliance Supplement.(Office of Management and Budget)
May 1, 2007... OMB issued its annual OMB Compliance Supplement in May, effective for fiscal years ending June 30, 2007. The 2007 Compliance Supplement can be downloaded at www.whitehouse.gov/omb/grants/grants_circulars.html in either PDF or Word format....

Editor's note.
May 1, 2007... OMB finally issued its 2007 Compliance Supplement. Initially due in March of 2007, the supplement was issued in early May. Why the delay? Well, as I understand it, the amount of personnel assigned to single audit in OMB has been diminishing...

AICPA issues SAS 108 in the Audit Risk Assessment Series.(Statement on Auditing Standards)(American Institute of Certified Public Accountants)
May 1, 2007... The fifth SAS in the Audit Risk Assessment Series is SAS 108, "Planning and Supervision," which supersedes SAS 22 of the same name. The first standard of field work is: "The auditor must adequately plan the work and must properly supervise...

GASB announces two new board members.(Girard Miller and Jan Sylvis joins Governmental Accounting Standards Board)(Brief article)
May 1, 2007... In April, the GASB announced two new board members: Girard Miller and Jan Sylvis. While I don't know the other people who were considered for the positions, I can honestly tell you that GASB hit two home runs with these selections. They...