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Tag Archives: audit
What is Data Analytics?
Data Analytics is a term that gets thrown around a lot these days. Why is that? What value does it really provide? How can it be used by auditors? Analytics has been used for many years. Before computers even existed, … read more
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Tagged audit, data analytics, government, nonprofit, testwork
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Good Audit Evidence
As the nature of business and technology continues to advance, audits are also changing and developing. Auditors use professional judgment and professional skepticism to determine if evidence is sufficient and appropriate. Usually when you think of audit evidence, you may … read more
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Tagged aicpa, Arizona, audit, audit evidence, government, Kara Curtis, nonprofit, SAS, standards, Texas
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Deja Vu! – GASB 96
Many are currently working through the implementation of GASB 87, the new lease standard required to be implemented in fiscal year 2022. The net result of the standard is more lease agreements carried on the balance sheet, additional disclosures, and … read more
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Tagged Arizona, audit, Chris Goeman, Christopher Goeman, GASB, government, IT, San Antonio, SBITA, school district, subscription, technology, Texas
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Control Implementation for Growing Non-Profit Organizations
Growth is a great sign for non-profit organizations, but sometimes it can be difficult for an organization’s procedures and controls to keep up with rapid change. When faced with a substantial increase in activity, it is important to evaluate the … read more
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Tagged AJ Taylor, audit, Austin Taylor, compliance, internal controls, nonprofit, NPO
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GASB Statement 87, Leases: Common Implementation Questions
There is no time left to procrastinate on preparing to implement GASB Statement 87. If this is your first introduction to the new lease standard, please refer to Christopher Heinfeld’s 2021 article for a basic introduction to the GASB pronouncement. … read more
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Tagged accounting, audit, financial statements, GASB, government, Joshua Jumper, leases, municipality, school district
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Year-End Close Out – How to Make It Easier
Closing out your organization’s accounting records each year can be an arduous process. That being said, it is critical to ensuring your organization’s financial reporting is accurate. Closing out the accounting records on a monthly basis and utilizing a checklist … read more
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Tagged accounting, Arizona, audit, financial records, internal controls, Kristen Conway, nonprofit, NPO, year-end
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Tips to Have Your Capital Asset Schedules Ready for Your Audit
Capital assets are usually a significant account balance on your financial statements. That means capital assets are material and your auditors will want to review your capital asset schedules to ensure your financial statements are free from material misstatements. It … read more
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Tagged accounting, Arizona, assets, audit, capital assets, Cristina Oropeza, government, inventory, nonprofit, school district, Texas
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