Government Accounting


The Department of the Treasury says the General Accounting Office (GAO) was unable to express an opinion ( www.treas.gov/press/releases/js145.htm ) on the federal government’s fiscal year 2002 financial report ( www.fms.treas.gov/fr/index.html ), released by the Treasury and the Office of Management and Budget at the end of March. According to the GAO ( www.fms.treas.gov/fr/02frusg/02gao.pdf ), material weaknesses in certain agencies’ accounting, reporting and internal control prevented the federal watchdog—for the sixth consecutive year—from expressing an opinion on the government’s consolidated financial statements.

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.