Governmental auditing news and resources

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August 21, 2019

FASAB clarifies cleanup cost liabilities guidance

A new interpretation of Federal Financial Accounting Standards is designed to clarify the application of cleanup cost liability standards when multiple component reporting entities are involved.

August 15, 2019

GASB issues lease accounting implementation guide

State and local governments received implementation guidance for the Governmental Accounting Standards Board’s lease accounting standard.

August 1, 2019

Lessee accounting for governments: An in-depth look

These practical illustrations give state and local governments insight into the new requirements of GASB Statement No. 87.

August 1, 2019

GASB proposes guidance for subscription-based IT arrangements

Cloud and remote-access computing are growing more popular.

July 9, 2019

GASB seeks comment on several issues

GASB issued an omnibus exposure draft covering accounting and financial reporting issues identified during the implementation of previous GASB guidance.

June 28, 2019

GASB proposes changes to Sec. 457 plan reporting

GASB proposed new guidance that would clarify the accounting and financial reporting of Internal Revenue Code Sec. 457 deferred compensation plans.

June 18, 2019

New GASB guide addresses fiduciary activities

GASB issued a new implementation guide that includes questions and answers related to recently released GASB standards on accounting and financial reporting for fiduciary activities.

June 13, 2019

GASB proposes guidance on PPPs and APAs

The guidance is designed to improve accounting and financial reporting for public-private and public-public partnership arrangements. Comments on the proposal were requested by Sept. 13.

June 1, 2019

GASB issues implementation guide

GASB issued an implementation guide that is designed to assist state and local government financial reporting personnel as they adopt and apply certain GASB statements.

May 30, 2019

Chief accountant Wesley Bricker to leave SEC

Wesley Bricker is leaving the SEC after serving as its chief accountant since 2016, the commission announced. Sagar Teotia, deputy chief accountant, will serve as acting chief accountant after Bricker departs in June.

May 22, 2019

GASB proposes guidance for subscription-based IT arrangements

GASB proposed guidance for state and local government accounting for subscription-based information technology arrangements.

May 2, 2019

New GASB guide assists with implementation

A new implementation guide issued by the Governmental Accounting Standards Board can assist state and local governments as they adopt certain GASB statements.

May 1, 2019

FASAB proposes eliminating RSSI, updating lease references

References to leases in three statements would change.

May 1, 2019

GASB issues proposed lease accounting implementation guide

GASB issued a proposed implementation guide that is designed to help state and local governments understand the board’s new standard on lease accounting.

April 17, 2019

Yellow Book revisions update independence guidance

Revised rules published in July 2018 by the U.S. Government Accountability Office clarify the need for safeguards for practitioners when performing preparation of accounting records and financial statement services.

March 1, 2019

FASAB proposes eliminating RSSI, updating lease references

FASAB has proposed eliminating the required supplementary stewardship information (RSSI) category and updating references to leases in multiple places in its accounting standards for federal government entities.

February 28, 2019

GASB issues proposed lease accounting implementation guide

GASB issued a proposed implementation guide that is designed to help state and local governments understand the board’s new standard on lease accounting.

February 1, 2019

GASB proposes implementation guidance

Q&As would address application of many topics.

January 3, 2019

GASB proposes implementation guide for fiduciary activities standard

GASB published a proposed implementation guide that provides questions and answers about the board’s new standards for state and local government accounting and financial reporting for fiduciary activities.

December 1, 2018