International



The International Public Sector Accounting Standards Board of the International Federation of Accountants (IFAC) has issued an exposure draft, ED 32, Financial Reporting Under the Cash Basis of Accounting—Disclosure Requirements for Recipients of External Assistance ( www.ifac.org/News/LastestReleases.tmpl ).

ED 32 strengthens disclosure of financial information by governments and government agencies in developing countries about external assistance, including emergency assistance and development aid, they receive. It is intended to increase the transparency of financial statements and heighten the accountability of aid recipients. The board will field-test ED 32 before it is approved. Comments are due March 31.

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States look to unclaimed property for revenue

This free report outlines the escheat process, common types of AUP, how different states are handling it and how companies can plan for potential audits and liabilities.

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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.