Governmental auditing news and resources

TOPICS

October 13, 2023

FASAB committee issues updates to guidance on leases

The board’s Accounting and Auditing Policy Committee issued Federal Financial Accounting Technical Release (TR) 22: Leases Implementation Guidance Updates.

September 29, 2023

GASB addresses disclosure and classification of capital assets

GASB issued a proposal that would establish requirements for certain types of capital assets to be disclosed separately for purposes of note disclosures, allowing users to make informed decisions about these and to evaluate accountability.

September 7, 2023

FASAB seeks comment on guidance for management discussion and analysis

The Federal Accounting Standards Advisory Board is seeking feedback on an exposure draft aimed at updating the guidance for management discussion and analysis (MD&A).

August 25, 2023

FASAB seeks to enhance note disclosures in financial statements

The Federal Accounting Standards Advisory Board is accepting public comments on an exposure draft aimed at making note disclosures an ‘integral part’ of financial statements.

July 10, 2023

GASB provides guidance on application of standards

GASB has issued implementation guidance in the form of questions and answers, that is intended to clarify a series of the board’s pronouncements.

June 1, 2023

How a CPA saved a state millions in health care costs

Marilyn Bartlett, CPA, changed the conversation about health care policy when her penchant for numbers saved Montana’s state employee health plan millions without increasing member or employer contributions.

May 31, 2023

FASAB committee proposes changes to guidance on leases

With a new standard for reporting on leases soon to be effective, the Accounting and Auditing Policy Committee is seeking comments on updates to its leases guidance in a 2021 technical release.

May 15, 2023

FASAB seeks feedback on its existing standards

The FASAB is seeking comments on its Reexamination of Existing Standards project to ensure that its standards meet users’ needs and provide financial information that supports public accountability and transparency.

April 27, 2023

How the Financial Accounting Foundation plans to strengthen oversight

The organization’s latest effort provide a more convenient way for stakeholders with questions about due process in standard-setting to voice their concerns.

April 7, 2023

FASAB issues statement to clarify lease terms

The Federal Accounting Standards Advisory Board issued a statement intended to provide targeted technical clarifications to further facilitate implementation of SFFAS 54, Leases.

March 17, 2023

FASAB issues bulletin on reimbursable work agreements

FASAB issued a technical bulletin to further explain and address accounting issues not directly covered under Statement of Federal Financial Accounting Standards 54 and other relevant statements.

February 27, 2023

FAF debuts enhanced access to online accounting standards

The Financial Accounting Foundation released its free, enhanced online access to the FASB Accounting Standards Codification and the GASB Governmental Accounting Research System.

February 6, 2023

GASB proposes implementation guidance on subscription-based IT arrangements

GASB issued a proposed implementation guidance that is intended to clarify, explain, or elaborate on existing guidance on subscription-based information technology arrangements.

November 21, 2022

FAF publishes new strategic plan

The Financial Accounting Foundation released its new strategic plan, which outlines the strategic goals that the organization will address over the next several years.

November 15, 2022

FASAB seeks comments on annual report, 3-year plan

The Federal Accounting Standards Advisory Board (FASAB) is seeking comments on its Annual Report for Fiscal Year 2022 and Three-Year Plan.

November 15, 2022

GASB proposes new implementation guidance

GASB issues proposed implementation guidance in the form of questions and answers intended to clarify, explain, or elaborate on certain pronouncements.

October 21, 2022

Resources for organizations requiring an audit related to COVID-19 relief

AICPA & CIMA tools can assist organizations new to single audits or similar compliance engagements.

July 7, 2022

GASB issues enhanced concepts for notes to financial statements

The GASB issued a concepts statement to guide the board when establishing note disclosure requirements for state and local governments — part of its response to research reexamining existing note disclosure requirements.

June 30, 2022

GASB issues proposal requiring disclosure of certain governmental risks

Stakeholders can comment on the GASB’s draft of a proposal that would require governments to disclose information that could affect their level of services or their ability to meet obligations as they come due.

June 16, 2022

GASB streamlines guidance on compensated absences with unified model

The GASB updates the model for compensated absences to enhance recognition and measurement requirements and simplify disclosure requirements.

FROM THIS MONTH'S ISSUE

4 ways solo practitioners can stand out

Five years ago, a grieving Angel Zhen started his own CPA firm with no clients and no revenue. Today, he has 300 clients, $600,000 in revenue and 12 weeks of annual vacation. In this JofA article, he shares how he set up his firm and how you could do the same.