Government Accounting

The Federal Accounting Standards Advisory Board (FASAB) published Statement of Federal Financial Accounting Standards 26, Presentation of Significant Assumptions for the Statement of Social Insurance: Amending SFFAS 25 ( ). Like its predecessor, SFFAS 26 is effective for periods that began after September 30, 2004. At the same time, the AICPA social insurance task force issued Statement of Position (SOP) 04-1, Auditing the Statement of Social Insurance, which is effective for periods beginning after September 30, 2005. The SOP ( ; see Official Releases, page 97) contains the task force’s recommendations regarding the application of statements on auditing standards to audits of statements of social insurance prepared in accordance with FASAB standards. Copies of the SOP (product no. 014941JA) can be ordered from the AICPA at 888-777-7077 or online at .


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.


News quiz: Retirement planning, tax practice, and fraud risk

Recent reports focused on a survey that gauges the worries about retirement among CPA financial planners’ clients, a suit that affects tax practitioners, and a guide that offers advice on fraud risk. See how much you know with this short quiz.


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.