Government


  

FASAB is seeking input on the exposure draft, Distinguishing Basic Information, Required Supplementary Information, and Other Accompanying Information . The ED proposes amendments to Statement of Federal Financial Accounting Concepts 2, Entity and Display , which would provide conceptual guidance for determining categorizing information in financial reports. The ED also poses questions on issues such as the factors that should be considered in distinguishing each category. Comments are requested by June 26. The ED and accompanying questions are available at www.fasab.gov/exposure.html .

GASB issued an exposure draft of proposed changes to Concepts Statement no. 2, Service Efforts and Accomplishments Reporting . The proposal seeks to clarify GASB’s role in service efforts and accomplishments (SEA) reporting as well as to provide research updates to the original ED, issued 14 years ago. Comments are requested by July 3. The ED is available at www.gasb.org .

 

SPONSORED REPORT

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.

PODCAST

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.