CPA Government & Nonprofit Report articles from September 2002

CPA Government & Nonprofit Report archives from September 2002

GAO Independence issues.
September 1, 2002... Recently, I had the opportunity to sit down with a couple of CPA firms and their clients to evaluate the impact of the new GAO Independence Standard. One concern that came up quickly was the number and type of adjusting entries that were being...

Editor's note.
September 1, 2002... September is going to be another hot month in the world of government and nonprofit accounting and auditing. There continues to be much discussion surrounding the GAO Independence Standards. I sat down with a couple of CPA firms and their...

GASB issues exposure draft to amend GASB Statement 3.
September 1, 2002... The proposed Statement 3 addresses current disclosures requirements for common deposit and investment risks. GASB is also proposing disclosures for credit risk, concentration of credit risk, interest rate risk, and foreign currency risk. In...

OMB issues a barrage of changes.
September 1, 2002... OMB has joined the crowd from AICPA, GAO, and GASB in announcing changes to their standards. On August 14, OMB issued five notices that related to the interagency grants streamlining effort. The following is a summary of the five separate...

Nonprofit board of director's financial responsibilities.
September 1, 2002... Today, with all the attention being focused on the larger for-profit corporations it is easy to forget about the responsibilities of the nonprofit organizations' boards of directors. Often, the board members of a typical nonprofit...