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

Building client loyalty with payroll services

In this report, CPA experts detail their tactics for performing successful payroll services, how to mitigate risk in the process, and the impact payroll can have as a value-added service.

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Hermann Sidhu, CPA, global assurance digital leader at EY, walks us through EY’s exciting new project to use drones to help audit large warehouses and outdoor inventories.