Government Accounting


The Governmental Accounting Standards Board (GASB) issued Accounting and Financial Reporting for Pollution Remediation Obligations, an exposure draft (ED) that specifies five circumstances—any of which would require a government to estimate its obligations to address the current or potential detrimental effects of existing pollution ( www.gasb.org/exp/exdfpg.html ). The ED also establishes a probability-weighted method—the expected cash-flow technique—to estimate liabilities, expenses and expenditures. If approved, the ED’s requirements would be effective for financial statements covering periods beginning after June 15, 2007. Comments are due May 1, 2006.

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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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Using drones to enhance audits

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.