Government Accounting And Auditing


A FASAB proposed standard would eliminate the requirement to report changes in certain receivables from the public as a resource on the statement of financing. Comments are due by June 8 ( www.financenet.gov/financenet/fed/fasab/pdf/ed_para80.pdf ).

New FASAB guidance amends standards for direct loans and loan guarantees, effective for periods beginning after September 30, 2002 ( www.financenet.gov/financenet/fed/fasab/pdf/sffas-19.pdf ).

The Social Security program’s financial stability will last until 2038—one year longer than previously expected—based on recent adjustments in the economic and demographic data underlying future SS payment projections ( www.ssa.gov/enews/enewspress031901.htm ).

SPONSORED REPORT

Year-end tax planning and what’s new for 2016

Practitioners need to consider several tax planning opportunities to review with their clients before the end of the year. This report offers strategies for individuals and businesses, as well as recent federal tax law changes affecting this year’s tax returns.

QUIZ

News quiz: IRS warning on cyberattacks and a change in pension rules

Once again, the IRS sounds the alarm about a threat from cyberthieves. See how much you know about this and other recent news with this short quiz.

CHECKLIST

Bolster your data defenses

As you weather the dog days of summer, it’s a good time to make sure your cybersecurity structure can stand up to the heat of external and internal threats. Here are six steps to help shore up your systems.