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 ( www.fasab.gov/pdffiles/sffas-26.pdf ). 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 ( www.aicpa.org/members/div/acctstd/recent_issued.asp ; 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 www.cpa2biz.com .

SPONSORED REPORT

Implementing a global statutory reporting maturity model

Assess your organization's capabilities and progress toward an ideal state of global statutory reporting. Sponsored by Workiva.

100th ANNIVERSARY

Black CPA Centennial, 1921–2021

With 2021 marking the 100th anniversary of the first Black licensed CPA in the United States, a yearlong campaign kicked off to recognize the nation’s Black CPAs and encourage greater progress in diversity, inclusion, and equity in the CPA profession.